Capital International Investors Takes Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Capital International Investors purchased a new position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,096,164 shares of the biopharmaceutical company's stock, valued at approximately $51,564,000. Capital International Investors owned 0.93% of Cytokinetics at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its holdings in Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 374 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Cytokinetics during the fourth quarter worth $29,000. AlphaQuest LLC boosted its holdings in Cytokinetics by 113,500.0% in the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 1,135 shares during the period. J.Safra Asset Management Corp boosted its holdings in Cytokinetics by 62.1% in the fourth quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company's stock worth $83,000 after purchasing an additional 671 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Cytokinetics by 85.8% during the fourth quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company's stock worth $86,000 after purchasing an additional 842 shares during the period.

Analyst Ratings Changes

A number of brokerages recently weighed in on CYTK. Evercore ISI raised shares of Cytokinetics to a "strong-buy" rating in a research report on Friday, February 7th. HC Wainwright reiterated a "buy" rating and set a $120.00 price target on shares of Cytokinetics in a research report on Monday. Citigroup started coverage on Cytokinetics in a research report on Friday, February 7th. They set a "buy" rating and a $86.00 price objective for the company. Morgan Stanley set a $67.00 target price on Cytokinetics in a research report on Friday, March 7th. Finally, Bank of America lowered their price target on shares of Cytokinetics from $62.00 to $54.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Two equities 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $79.13.

Cytokinetics Price Performance

NASDAQ:CYTK traded up $0.10 during mid-day trading on Friday, reaching $40.43. 883,785 shares of the stock were exchanged, compared to its average volume of 1,606,417. 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 has a fifty day moving average price of $42.19 and a 200 day moving average price of $47.29. Cytokinetics, Incorporated has a 1-year low of $32.74 and a 1-year high of $68.44. The firm has a market capitalization of $4.82 billion, a PE ratio of -7.51 and a beta of 0.94.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) 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 analyst estimates of $14.26 million. Research analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Insider Transactions at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $45.98, for a total value of $91,960.00. Following the completion of the transaction, the executive vice president now directly owns 116,071 shares in the company, valued at $5,336,944.58. This trade represents a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Wendall Wierenga sold 20,000 shares of the business's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $38.46, for a total transaction of $769,200.00. Following the sale, the director now owns 24,848 shares in the company, valued at $955,654.08. This represents a 44.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 88,360 shares of company stock valued at $3,643,645 in the last three months. 3.40% of the stock is currently owned by corporate insiders.

Cytokinetics 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.