Vanguard Group Inc. Has $560.52 Million Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Vanguard Group Inc. boosted its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,915,821 shares of the biopharmaceutical company's stock after acquiring an additional 154,216 shares during the quarter. Vanguard Group Inc. owned 10.10% of Cytokinetics worth $560,520,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CYTK. Harvey Capital Management Inc. acquired a new stake in shares of Cytokinetics during the 4th quarter worth about $1,040,000. abrdn plc increased its holdings in shares of Cytokinetics by 29.4% during the fourth quarter. abrdn plc now owns 450,513 shares of the biopharmaceutical company's stock worth $21,192,000 after buying an additional 102,457 shares in the last quarter. AlphaQuest LLC raised its stake in shares of Cytokinetics by 113,500.0% in the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock valued at $53,000 after acquiring an additional 1,135 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Cytokinetics by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,335,189 shares of the biopharmaceutical company's stock worth $62,807,000 after acquiring an additional 13,798 shares during the last quarter. Finally, Retirement Systems of Alabama increased its holdings in Cytokinetics by 0.4% during the 4th 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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Analysts Set New Price Targets

Several brokerages have recently commented on CYTK. Royal Bank of Canada increased their target price on Cytokinetics from $80.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, December 18th. HC Wainwright reissued a "buy" rating and set a $120.00 price objective on shares of Cytokinetics in a report on Friday. Evercore ISI raised shares of Cytokinetics to a "strong-buy" rating in a research note on Friday, February 7th. Needham & Company LLC reiterated a "buy" rating and set a $72.00 target price on shares of Cytokinetics in a research report on Thursday, February 6th. Finally, Citigroup initiated coverage on shares of Cytokinetics in a report on Friday, February 7th. They issued a "buy" rating and a $86.00 price target for the company. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.00.

Cytokinetics Stock Down 7.8 %

CYTK traded down $3.16 during trading on Friday, reaching $37.36. The company had a trading volume of 3,208,825 shares, compared to its average volume of 1,545,467. The company has a market cap of $4.42 billion, a P/E ratio of -6.94 and a beta of 0.94. Cytokinetics, Incorporated has a 12 month low of $36.89 and a 12 month high of $75.71. 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 business's fifty day moving average price is $44.93 and its 200 day moving average price is $48.98.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $16.93 million during the quarter, compared to the consensus estimate of $14.26 million. Equities analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Insider Transactions at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $45.92, for a total transaction of $91,840.00. Following the completion of the transaction, the executive vice president now owns 116,071 shares of the company's stock, valued at $5,329,980.32. This represents a 1.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Andrew Callos sold 2,775 shares of Cytokinetics stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $44.38, for a total transaction of $123,154.50. Following the completion of the sale, the executive vice president now owns 34,888 shares in the company, valued at $1,548,329.44. This trade represents a 7.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,284 shares of company stock valued at $2,578,268 over the last three months. Company insiders own 3.40% of the company's stock.

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.