EFG Asset Management North America Corp. Buys 49,628 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

EFG Asset Management North America Corp. raised its stake in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 145.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 83,862 shares of the biopharmaceutical company's stock after buying an additional 49,628 shares during the period. EFG Asset Management North America Corp. owned approximately 0.07% of Cytokinetics worth $3,943,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of CYTK. Jones Financial Companies Lllp boosted its position in shares of Cytokinetics by 189.8% in the fourth 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 period. MetLife Investment Management LLC lifted its stake in Cytokinetics by 0.4% in the 3rd quarter. MetLife Investment Management LLC now owns 123,308 shares of the biopharmaceutical company's stock worth $6,511,000 after acquiring an additional 538 shares in the last quarter. Retirement Systems of Alabama lifted its stake in Cytokinetics by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company's stock worth $6,750,000 after acquiring an additional 565 shares in the last quarter. Arizona State Retirement System boosted its position in Cytokinetics by 1.9% during the 4th quarter. Arizona State Retirement System now owns 32,366 shares of the biopharmaceutical company's stock worth $1,522,000 after acquiring an additional 600 shares during the period. Finally, Inspire Investing LLC grew its stake in Cytokinetics by 7.8% during the 4th quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company's stock valued at $400,000 after acquiring an additional 616 shares in the last quarter.

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Insider Activity

In other Cytokinetics news, CEO Robert I. Blum sold 16,970 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $43.44, for a total transaction of $737,176.80. Following the completion of the transaction, the chief executive officer now directly owns 364,181 shares in the company, valued at $15,820,022.64. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrew Callos sold 2,775 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $44.38, for a total transaction of $123,154.50. Following the transaction, the executive vice president now owns 34,888 shares of the company's stock, 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 a total of 43,834 shares of company stock valued at $1,949,275 in the last quarter. Company insiders own 3.40% of the company's stock.

Analysts Set New Price Targets

CYTK has been the subject of a number of research analyst reports. Citigroup initiated coverage on shares of Cytokinetics in a research report on Friday, February 7th. They issued a "buy" rating and a $86.00 price target for the company. Needham & Company LLC reiterated a "buy" rating and issued a $72.00 target price on shares of Cytokinetics in a research report on Thursday, February 6th. Stifel Nicolaus assumed coverage on shares of Cytokinetics in a report on Wednesday, January 22nd. They set a "buy" rating and a $80.00 price target on the stock. Evercore ISI raised shares of Cytokinetics to a "strong-buy" rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada lifted their price objective on Cytokinetics from $80.00 to $82.00 and gave the company an "outperform" rating in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $82.00.

Cytokinetics Price Performance

Shares of CYTK stock traded up $0.20 during trading hours on Friday, hitting $43.19. The company had a trading volume of 1,519,926 shares, compared to its average volume of 1,505,735. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The firm's fifty day moving average is $45.75 and its 200 day moving average is $49.55. Cytokinetics, Incorporated has a 12 month low of $40.53 and a 12 month high of $75.71. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of -8.03 and a beta of 0.95.

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

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.