Van ECK Associates Corp Lowers Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Van ECK Associates Corp decreased its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 24.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 54,364 shares of the biopharmaceutical company's stock after selling 17,327 shares during the period. Van ECK Associates Corp's holdings in Cytokinetics were worth $2,557,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Cytokinetics by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company's stock worth $150,433,000 after purchasing an additional 109,938 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Cytokinetics by 42.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company's stock worth $69,769,000 after purchasing an additional 395,709 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in Cytokinetics by 38.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company's stock worth $64,040,000 after purchasing an additional 339,373 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Cytokinetics by 17.2% in the 3rd 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 in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in Cytokinetics by 1.5% in the 3rd quarter. Fisher Asset Management LLC now owns 542,284 shares of the biopharmaceutical company's stock worth $28,633,000 after purchasing an additional 7,764 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Evercore ISI raised Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. Mizuho upped their target price on Cytokinetics from $99.00 to $103.00 and gave the stock an "outperform" rating in a report on Thursday, November 21st. Stifel Nicolaus assumed coverage on Cytokinetics in a report on Wednesday, January 22nd. They issued a "buy" rating and a $80.00 target price for the company. Morgan Stanley raised Cytokinetics from an "equal weight" rating to an "overweight" rating and lowered their target price for the stock from $70.00 to $67.00 in a report on Thursday, February 13th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $72.00 price target on shares of Cytokinetics in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $82.00.

Cytokinetics Trading Down 1.7 %

Shares of Cytokinetics stock traded down $0.86 on Friday, hitting $50.26. 2,169,437 shares of the company's stock traded hands, compared to its average volume of 1,607,616. Cytokinetics, Incorporated has a one year low of $40.53 and a one year high of $81.36. 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 fifty day moving average of $47.26 and a two-hundred day moving average of $51.55. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of -9.34 and a beta of 0.83.

Insider Activity at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $50.16, for a total value of $366,168.00. Following the transaction, the executive vice president now owns 111,878 shares in the company, valued at approximately $5,611,800.48. This represents a 6.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $50.76, for a total value of $253,800.00. Following the completion of the transaction, the chief executive officer now owns 397,678 shares in the company, valued at approximately $20,186,135.28. The trade was a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,122 shares of company stock worth $1,494,016 in the last 90 days. Corporate insiders own 3.40% of the company's stock.

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.