Franklin Resources Inc. Buys 9,366 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Franklin Resources Inc. raised its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 545,813 shares of the biopharmaceutical company's stock after purchasing an additional 9,366 shares during the period. Franklin Resources Inc. owned approximately 0.46% of Cytokinetics worth $25,675,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp grew its holdings in shares of Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 374 shares in the last quarter. Centricity Wealth Management LLC bought a new position in Cytokinetics in the 4th quarter valued at about $29,000. AlphaQuest LLC lifted its holdings in shares of Cytokinetics by 113,500.0% during the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock worth $53,000 after acquiring an additional 1,135 shares during the period. J.Safra Asset Management Corp boosted its position in shares of Cytokinetics by 62.1% during the 4th quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company's stock worth $83,000 after acquiring an additional 671 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Cytokinetics by 85.8% during the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company's stock worth $86,000 after acquiring an additional 842 shares in the last quarter.

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Insider Activity at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 2,000 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $48.06, for a total value of $96,120.00. Following the sale, the executive vice president now directly owns 116,071 shares in the company, valued at approximately $5,578,372.26. The trade was a 1.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Andrew Callos sold 2,886 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $35.78, for a total transaction of $103,261.08. Following the sale, the executive vice president now directly owns 64,689 shares in the company, valued at approximately $2,314,572.42. This trade represents a 4.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,170 shares of company stock worth $2,766,739. Insiders own 3.40% of the company's stock.

Analyst Upgrades and Downgrades

CYTK has been the subject of several recent analyst reports. Stifel Nicolaus started coverage on Cytokinetics in a research note on Wednesday, January 22nd. They set a "buy" rating and a $80.00 target price for the company. Evercore ISI upgraded shares of Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. Morgan Stanley set a $67.00 price objective on Cytokinetics in a report on Friday, March 7th. Citigroup assumed coverage on Cytokinetics in a report on Friday, February 7th. They issued a "buy" rating and a $86.00 target price for the company. Finally, Royal Bank of Canada boosted their price target on Cytokinetics from $80.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, December 18th. Two research 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 stock. According to data from MarketBeat, Cytokinetics has an average rating of "Moderate Buy" and a consensus target price of $82.00.

Cytokinetics Stock Performance

Shares of CYTK traded up $0.80 on Friday, reaching $38.65. 2,450,299 shares of the company's stock traded hands, compared to its average volume of 1,583,353. The stock's 50 day simple moving average is $43.17 and its two-hundred day simple moving average is $48.18. The stock has a market cap of $4.58 billion, a PE ratio of -7.18 and a beta of 0.94. Cytokinetics, Incorporated has a 52-week low of $32.74 and a 52-week high of $73.76. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93.

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, analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Cytokinetics Company 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.