Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its stake in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 189,540 shares of the biopharmaceutical company's stock after selling 9,835 shares during the period. Corebridge Financial Inc. owned 0.16% of Cytokinetics worth $8,916,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in Cytokinetics by 42.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company's stock valued at $69,769,000 after acquiring an additional 395,709 shares in the last quarter. Checkpoint Capital L.P. lifted its stake in shares of Cytokinetics by 145.7% in the 3rd quarter. Checkpoint Capital L.P. now owns 466,813 shares of the biopharmaceutical company's stock valued at $24,648,000 after purchasing an additional 276,813 shares during the period. Two Sigma Advisers LP bought a new stake in shares of Cytokinetics during the third quarter valued at approximately $11,336,000. Janus Henderson Group PLC grew its stake in Cytokinetics by 17.2% in the third quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company's stock worth $60,399,000 after purchasing an additional 167,501 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Cytokinetics by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company's stock valued at $560,520,000 after buying an additional 154,216 shares in the last quarter.

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Insiders Place Their Bets

In other news, CEO Robert I. Blum sold 15,000 shares of the company's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $40.75, for a total value of $611,250.00. Following the transaction, the chief executive officer now owns 427,629 shares of the company's stock, valued at $17,425,881.75. This represents a 3.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Fady Ibraham Malik sold 2,000 shares of the company's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $49.32, for a total transaction of $98,640.00. Following the completion of the transaction, the executive vice president now directly owns 116,071 shares in the company, valued at $5,724,621.72. The trade was a 1.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,834 shares of company stock worth $2,560,525. 3.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Citigroup assumed coverage on shares of Cytokinetics in a research note on Friday, February 7th. They issued a "buy" rating and a $86.00 price target for the company. HC Wainwright reiterated a "buy" rating and set a $120.00 target price on shares of Cytokinetics in a report on Friday, February 28th. Stifel Nicolaus began coverage on Cytokinetics in a research report on Wednesday, January 22nd. They set a "buy" rating and a $80.00 price objective for the company. Evercore ISI upgraded Cytokinetics to a "strong-buy" rating in a research note on Friday, February 7th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $72.00 target price on shares of Cytokinetics in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $82.00.

Cytokinetics Stock Down 6.7 %

Shares of CYTK stock traded down $2.69 during mid-day trading on Tuesday, hitting $37.50. The stock had a trading volume of 2,503,922 shares, compared to its average volume of 1,510,812. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The firm has a market capitalization of $4.44 billion, a P/E ratio of -6.97 and a beta of 0.95. The firm's 50-day moving average is $45.47 and its two-hundred day moving average is $49.29. Cytokinetics, Incorporated has a 12-month low of $37.46 and a 12-month high of $75.71.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping 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, analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

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.