Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lessened its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 14.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 76,460 shares of the biopharmaceutical company's stock after selling 12,680 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.06% of Cytokinetics worth $3,593,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CYTK. Norges Bank bought a new position in shares of Cytokinetics in the 4th quarter worth approximately $46,556,000. Groupama Asset Managment bought a new stake in Cytokinetics during the 4th quarter worth approximately $16,464,000. Marshall Wace LLP raised its stake in Cytokinetics by 14.9% during the 4th quarter. Marshall Wace LLP now owns 2,153,313 shares of the biopharmaceutical company's stock worth $101,292,000 after acquiring an additional 279,612 shares during the period. Vanguard Group Inc. raised its stake in Cytokinetics by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company's stock worth $560,520,000 after acquiring an additional 154,216 shares during the period. Finally, Springhill Fund Asset Management HK Co Ltd bought a new stake in Cytokinetics during the 4th quarter worth approximately $6,150,000.

Insider Buying and Selling

In other news, Director Wendall Wierenga sold 20,000 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $38.46, for a total transaction of $769,200.00. Following the transaction, the director now directly owns 24,848 shares in the company, valued at approximately $955,654.08. This trade represents a 44.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $45.98, for a total transaction of $91,960.00. Following the transaction, the executive vice president now owns 116,071 shares in the company, valued at approximately $5,336,944.58. This represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,360 shares of company stock valued at $3,848,445 in the last ninety days. 3.40% of the stock is owned by company insiders.

Cytokinetics Price Performance

Shares of NASDAQ CYTK traded up $0.07 during mid-day trading on Tuesday, hitting $41.29. 1,074,955 shares of the company's stock traded hands, compared to its average volume of 1,606,739. The company's 50-day moving average is $41.99 and its two-hundred day moving average is $47.01. 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 company has a market capitalization of $4.92 billion, a P/E ratio of -7.67 and a beta of 0.94. Cytokinetics, Incorporated has a 1 year low of $32.74 and a 1 year high of $68.44.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Citigroup assumed coverage on shares of Cytokinetics in a research note on Friday, February 7th. They set a "buy" rating and a $86.00 target price on the stock. Evercore ISI upgraded shares of Cytokinetics to a "strong-buy" rating in a research note on Friday, February 7th. JMP Securities restated a "market outperform" rating and set a $78.00 target price on shares of Cytokinetics in a research note on Thursday, April 10th. Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 price objective on shares of Cytokinetics in a report on Tuesday, April 8th. Finally, Morgan Stanley set a $67.00 target price on shares of Cytokinetics in a report on Friday, March 7th. Two investment 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 company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $79.13.

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.