BNP Paribas Financial Markets Reduces Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

BNP Paribas Financial Markets trimmed its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 27.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,292 shares of the biopharmaceutical company's stock after selling 15,629 shares during the period. BNP Paribas Financial Markets' holdings in Cytokinetics were worth $2,127,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Cetera Advisors LLC bought a new position in shares of Cytokinetics in the first quarter worth about $531,000. Mirador Capital Partners LP raised its holdings in Cytokinetics by 78.1% in the 2nd quarter. Mirador Capital Partners LP now owns 63,143 shares of the biopharmaceutical company's stock valued at $3,421,000 after acquiring an additional 27,688 shares in the last quarter. Securian Asset Management Inc. lifted its position in shares of Cytokinetics by 13.4% in the 2nd quarter. Securian Asset Management Inc. now owns 9,144 shares of the biopharmaceutical company's stock worth $495,000 after acquiring an additional 1,081 shares during the period. Oak Ridge Investments LLC bought a new stake in shares of Cytokinetics during the second quarter valued at approximately $1,002,000. Finally, J.Safra Asset Management Corp raised its stake in shares of Cytokinetics by 642.3% in the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 456 shares in the last quarter.

Cytokinetics Trading Up 1.1 %

Shares of NASDAQ CYTK traded up $0.56 during trading on Friday, reaching $50.96. The company had a trading volume of 580,844 shares, compared to its average volume of 1,358,998. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The business's 50 day moving average price is $53.04 and its 200-day moving average price is $54.10. Cytokinetics, Incorporated has a 52 week low of $32.70 and a 52 week high of $110.25.

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

Insider Activity at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 6,342 shares of Cytokinetics stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $58.48, for a total value of $370,880.16. Following the completion of the transaction, the executive vice president now owns 113,878 shares in the company, valued at $6,659,585.44. This trade 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 at the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of the company's stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $52.14, for a total transaction of $260,700.00. Following the sale, the chief executive officer now owns 397,456 shares in the company, valued at $20,723,355.84. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,994 shares of company stock valued at $3,427,975 in the last three months. Corporate insiders own 3.40% of the company's stock.

Analyst Upgrades and Downgrades

CYTK has been the topic of a number of recent research reports. Needham & Company LLC reiterated a "buy" rating and set a $72.00 price target on shares of Cytokinetics in a research note on Monday, December 2nd. Cantor Fitzgerald reissued an "overweight" rating on shares of Cytokinetics in a research report on Friday, October 18th. 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 note on Thursday, September 5th. HC Wainwright reiterated a "buy" rating and issued a $120.00 price objective on shares of Cytokinetics in a research note on Monday, December 2nd. Finally, Mizuho raised their target price on Cytokinetics from $99.00 to $103.00 and gave the stock an "outperform" rating in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.93.

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.