23,000 Shares in Cytokinetics, Incorporated (NASDAQ:CYTK) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 23,000 shares of the biopharmaceutical company's stock, valued at approximately $1,082,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company increased its holdings in shares of Cytokinetics by 23.6% during the third quarter. The Manufacturers Life Insurance Company now owns 214,832 shares of the biopharmaceutical company's stock worth $11,343,000 after purchasing an additional 41,057 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Cytokinetics by 19.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,376 shares of the biopharmaceutical company's stock worth $1,393,000 after acquiring an additional 4,282 shares during the period. Erste Asset Management GmbH acquired a new position in Cytokinetics in the 3rd quarter valued at $3,164,000. Checkpoint Capital L.P. raised its holdings in Cytokinetics by 145.7% in the 3rd quarter. Checkpoint Capital L.P. now owns 466,813 shares of the biopharmaceutical company's stock valued at $24,648,000 after acquiring an additional 276,813 shares in the last quarter. Finally, HighVista Strategies LLC bought a new stake in shares of Cytokinetics during the 3rd quarter valued at $531,000.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CYTK. Citigroup started coverage on Cytokinetics in a research note on Friday, February 7th. They issued a "buy" rating and a $86.00 price target for the company. Stifel Nicolaus assumed coverage on shares of Cytokinetics in a research report on Wednesday, January 22nd. They issued a "buy" rating and a $80.00 target price for the company. Royal Bank of Canada increased their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 18th. HC Wainwright restated a "buy" rating and set a $120.00 price objective on shares of Cytokinetics in a research report on Friday, February 28th. Finally, Evercore ISI upgraded Cytokinetics to a "strong-buy" rating in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $82.00.

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Cytokinetics Trading Up 0.7 %

NASDAQ CYTK traded up $0.27 during trading hours on Thursday, reaching $40.52. The company's stock had a trading volume of 2,740,602 shares, compared to its average volume of 1,533,553. The firm has a fifty day simple moving average of $45.20 and a 200-day simple moving average of $49.17. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. Cytokinetics, Incorporated has a 52 week low of $37.46 and a 52 week high of $75.71. The stock has a market cap of $4.80 billion, a P/E ratio of -7.53 and a beta of 0.95.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.29) by $0.03. The business had revenue of $16.93 million for the quarter, compared to the consensus estimate of $14.26 million. Equities analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cytokinetics news, CEO Robert I. Blum sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $40.75, for a total transaction of $611,250.00. Following the completion of the transaction, the chief executive officer now owns 427,629 shares in the company, valued at approximately $17,425,881.75. This trade represents a 3.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew Callos sold 3,341 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $43.27, for a total transaction of $144,565.07. Following the completion of the sale, the executive vice president now directly owns 64,434 shares in the company, valued at approximately $2,788,059.18. This represents a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,834 shares of company stock valued at $2,560,525. 3.40% of the stock is currently owned by company insiders.

Cytokinetics Company Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.