Algert Global LLC Sells 22,738 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Algert Global LLC trimmed its position in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 31.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 48,670 shares of the biopharmaceutical company's stock after selling 22,738 shares during the quarter. Algert Global LLC's holdings in Cytokinetics were worth $2,570,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. J.Safra Asset Management Corp boosted its position in Cytokinetics by 642.3% during the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 456 shares during the period. UMB Bank n.a. lifted its stake in shares of Cytokinetics by 65.6% during the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company's stock worth $32,000 after buying an additional 238 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Cytokinetics by 225.9% during the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company's stock worth $53,000 after buying an additional 680 shares during the period. Values First Advisors Inc. bought a new stake in shares of Cytokinetics during the 3rd quarter worth about $54,000. Finally, Bessemer Group Inc. grew its stake in Cytokinetics by 25,100.0% in the 1st quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company's stock valued at $88,000 after buying an additional 1,255 shares during the last quarter.

Cytokinetics Price Performance

NASDAQ CYTK traded up $0.20 on Wednesday, hitting $52.22. 792,656 shares of the company's stock were exchanged, compared to its average volume of 2,043,356. The stock has a 50-day moving average of $53.39 and a 200-day moving average of $54.50. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of -9.67 and a beta of 0.78. Cytokinetics, Incorporated has a 52 week low of $30.68 and a 52 week high of $110.25. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The company had revenue of $0.46 million during the quarter, compared to analyst estimates of $1.21 million. During the same period in the prior year, the company posted ($1.35) EPS. The firm's revenue was up 22.5% compared to the same quarter last year. Analysts expect that Cytokinetics, Incorporated will post -5.25 earnings per share for the current year.

Insider Activity

In other news, EVP Fady Ibraham Malik sold 7,384 shares of Cytokinetics stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.01, for a total transaction of $420,961.84. Following the sale, the executive vice president now directly owns 122,920 shares of the company's stock, valued at approximately $7,007,669.20. This trade represents a 5.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Wendall Wierenga sold 4,452 shares of the business's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $52.25, for a total value of $232,617.00. Following the sale, the director now owns 24,559 shares in the company, valued at approximately $1,283,207.75. This trade represents a 15.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,378 shares of company stock worth $3,880,287. Corporate insiders own 3.40% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Needham & Company LLC restated a "buy" rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Wednesday, November 20th. The Goldman Sachs Group downgraded Cytokinetics from a "buy" rating to a "neutral" rating and reduced their price target for the company from $85.00 to $60.00 in a research note on Tuesday, August 13th. Mizuho increased their price objective on Cytokinetics from $99.00 to $103.00 and gave the stock an "outperform" rating in a research report on Thursday, November 21st. Royal Bank of Canada started coverage on shares of Cytokinetics in a research report on Friday, November 8th. They issued an "outperform" rating and a $80.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an "overweight" rating in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $83.93.

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.