abrdn plc Acquires 102,457 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

abrdn plc grew its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 29.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 450,513 shares of the biopharmaceutical company's stock after purchasing an additional 102,457 shares during the quarter. abrdn plc owned about 0.38% of Cytokinetics worth $21,192,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. UMB Bank n.a. grew its holdings in Cytokinetics by 65.6% in the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company's stock valued at $32,000 after buying an additional 238 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Cytokinetics by 225.9% in the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company's stock worth $53,000 after acquiring an additional 680 shares during the last quarter. Values First Advisors Inc. bought a new position in Cytokinetics during the third quarter worth $54,000. R Squared Ltd acquired a new position in Cytokinetics during the 4th quarter valued at $133,000. Finally, Quarry LP boosted its holdings in Cytokinetics by 50.0% in the 3rd quarter. Quarry LP now owns 3,000 shares of the biopharmaceutical company's stock valued at $158,000 after purchasing an additional 1,000 shares during the period.

Analysts Set New Price Targets

CYTK has been the topic of several research reports. Citigroup began coverage on shares of Cytokinetics in a report on Friday. They set a "buy" rating and a $86.00 price objective on the stock. Needham & Company LLC restated a "buy" rating and set a $72.00 price target on shares of Cytokinetics in a research note on Thursday. JMP Securities reiterated a "market outperform" rating and issued a $78.00 price objective on shares of Cytokinetics in a research report on Friday. Cantor Fitzgerald restated an "overweight" rating on shares of Cytokinetics in a research report on Friday, October 18th. Finally, Stifel Nicolaus assumed coverage on Cytokinetics in a research note on Wednesday, January 22nd. They issued a "buy" rating and a $80.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Cytokinetics presently has an average rating of "Moderate Buy" and an average price target of $83.00.

Insider Activity at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 6,342 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $58.48, for a total transaction of $370,880.16. Following the sale, the executive vice president now directly owns 113,878 shares of the company's stock, valued at $6,659,585.44. This represents a 5.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Wendall Wierenga sold 742 shares of the business's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $48.61, for a total transaction of $36,068.62. Following the completion of the transaction, the director now owns 24,559 shares of the company's stock, valued at $1,193,812.99. This trade represents a 2.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,464 shares of company stock valued at $2,025,686 in the last three months. Corporate insiders own 3.40% of the company's stock.

Cytokinetics Price Performance

Shares of NASDAQ CYTK traded down $0.55 during mid-day trading on Monday, hitting $42.21. 2,616,097 shares of the stock were exchanged, compared to its average volume of 1,416,177. Cytokinetics, Incorporated has a twelve month low of $41.71 and a twelve month high of $81.36. The stock's fifty day simple moving average is $48.15 and its two-hundred day simple moving average is $52.23. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The company has a market cap of $4.98 billion, a P/E ratio of -7.85 and a beta of 0.83.

About Cytokinetics

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.