Fisher Asset Management LLC Has $29 Million Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

Fisher Asset Management LLC raised its position in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 13.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 616,492 shares of the biopharmaceutical company's stock after purchasing an additional 74,208 shares during the quarter. Fisher Asset Management LLC owned about 0.52% of Cytokinetics worth $29,000,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CYTK. International Assets Investment Management LLC acquired a new position in shares of Cytokinetics during the third quarter valued at approximately $558,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Cytokinetics by 24.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256 shares of the biopharmaceutical company's stock valued at $223,000 after acquiring an additional 833 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Cytokinetics by 7.4% during the third quarter. State of Alaska Department of Revenue now owns 13,390 shares of the biopharmaceutical company's stock valued at $706,000 after acquiring an additional 925 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Cytokinetics by 2.9% during the third quarter. Nisa Investment Advisors LLC now owns 15,062 shares of the biopharmaceutical company's stock valued at $795,000 after acquiring an additional 430 shares during the period. Finally, New York State Teachers Retirement System increased its stake in shares of Cytokinetics by 1.4% during the third quarter. New York State Teachers Retirement System now owns 113,800 shares of the biopharmaceutical company's stock valued at $6,009,000 after acquiring an additional 1,600 shares during the period.

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Cytokinetics Stock Down 1.2 %

Shares of Cytokinetics stock traded down $0.52 during midday trading on Thursday, reaching $43.36. 444,818 shares of the company's stock traded hands, compared to its average volume of 1,570,857. The company has a market cap of $5.13 billion, a price-to-earnings ratio of -8.04 and a beta of 0.95. The company's 50 day simple moving average is $47.00 and its 200 day simple moving average is $51.03. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. Cytokinetics, Incorporated has a 52 week low of $40.53 and a 52 week high of $75.71.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. JMP Securities reiterated a "market outperform" rating and set a $78.00 price objective on shares of Cytokinetics in a research note on Friday, February 7th. Evercore ISI upgraded shares of Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. Citigroup started coverage on shares of Cytokinetics in a report on Friday, February 7th. They set a "buy" rating and a $86.00 target price for the company. Morgan Stanley upgraded shares of Cytokinetics from an "equal weight" rating to an "overweight" rating and reduced their target price for the stock from $70.00 to $67.00 in a report on Thursday, February 13th. Finally, Needham & Company LLC restated a "buy" rating and set a $72.00 target price on shares of Cytokinetics in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cytokinetics has an average rating of "Moderate Buy" and a consensus target price of $82.00.

Insider Buying and Selling

In related news, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $45.92, for a total value of $91,840.00. Following the transaction, the executive vice president now owns 116,071 shares in the company, valued at $5,329,980.32. This trade represents a 1.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Wendall Wierenga sold 742 shares of Cytokinetics stock in a transaction on Monday, December 16th. The stock was sold at an average price of $48.61, for a total transaction of $36,068.62. Following the completion of the transaction, the director now owns 24,559 shares in the company, valued at $1,193,812.99. This trade represents a 2.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,822 shares of company stock worth $874,048 in the last quarter. 3.40% of the stock is currently owned by company insiders.

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.