Charles Schwab Investment Management Inc. Purchases 13,798 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Charles Schwab Investment Management Inc. raised its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,335,189 shares of the biopharmaceutical company's stock after purchasing an additional 13,798 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.13% of Cytokinetics worth $62,807,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Harvey Capital Management Inc. acquired a new position in Cytokinetics during the fourth quarter valued at approximately $1,040,000. Westfield Capital Management Co. LP raised its position in Cytokinetics by 38.9% during the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company's stock valued at $64,040,000 after purchasing an additional 339,373 shares in the last quarter. abrdn plc raised its position in Cytokinetics by 29.4% during the fourth quarter. abrdn plc now owns 450,513 shares of the biopharmaceutical company's stock valued at $21,192,000 after purchasing an additional 102,457 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Cytokinetics by 24.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 344,448 shares of the biopharmaceutical company's stock valued at $18,187,000 after purchasing an additional 68,381 shares in the last quarter. Finally, Retirement Systems of Alabama raised its position in Cytokinetics by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company's stock valued at $6,750,000 after purchasing an additional 565 shares in the last quarter.

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Cytokinetics Trading Down 0.1 %

CYTK stock traded down $0.04 during midday trading on Friday, hitting $44.36. The stock had a trading volume of 1,337,107 shares, compared to its average volume of 1,477,414. The firm has a market cap of $5.25 billion, a P/E ratio of -8.25 and a beta of 0.95. 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, Incorporated has a 1-year low of $40.53 and a 1-year high of $75.71. The business has a fifty day moving average price of $46.34 and a two-hundred day moving average price of $50.35.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, beating the consensus estimate of ($1.29) by $0.03. The company had revenue of $16.93 million for the quarter, compared to analyst estimates of $14.26 million. On average, sell-side analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Wendall Wierenga sold 742 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $48.61, for a total value of $36,068.62. Following the sale, the director now owns 24,559 shares in the company, valued at $1,193,812.99. This represents a 2.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert I. Blum sold 16,970 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $43.44, for a total transaction of $737,176.80. Following the completion of the sale, the chief executive officer now owns 364,181 shares in the company, valued at $15,820,022.64. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,153 shares of company stock worth $1,300,870. Company insiders own 3.40% of the company's stock.

Wall Street Analysts Forecast Growth

CYTK has been the subject of several research analyst reports. Needham & Company LLC restated a "buy" rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Thursday, February 6th. Stifel Nicolaus initiated coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They set a "buy" rating and a $80.00 target price on the stock. Evercore ISI raised shares of Cytokinetics to a "strong-buy" rating in a research note on Friday, February 7th. JMP Securities reaffirmed a "market outperform" rating and set a $78.00 target price on shares of Cytokinetics in a research note on Friday, February 7th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $120.00 target price on shares of Cytokinetics in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $82.00.

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.