Geode Capital Management LLC Lowers Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Geode Capital Management LLC lowered its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,841,338 shares of the biopharmaceutical company's stock after selling 7,246 shares during the period. Geode Capital Management LLC owned about 2.41% of Cytokinetics worth $133,686,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CYTK. Jones Financial Companies Lllp grew its position in shares of Cytokinetics by 189.8% in the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 374 shares during the period. Centricity Wealth Management LLC bought a new stake in Cytokinetics in the fourth quarter valued at approximately $29,000. AlphaQuest LLC lifted its position in shares of Cytokinetics by 113,500.0% in the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock valued at $53,000 after buying an additional 1,135 shares during the last quarter. J.Safra Asset Management Corp boosted its stake 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 during the period. Finally, Blue Trust Inc. increased its holdings in shares of Cytokinetics by 85.8% in the fourth quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company's stock valued at $86,000 after purchasing an additional 842 shares during the last quarter.

Remove Ads

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. JMP Securities reiterated a "market outperform" rating and set a $78.00 target price on shares of Cytokinetics in a research note on Thursday. Citigroup began coverage on Cytokinetics in a research note on Friday, February 7th. They issued a "buy" rating and a $86.00 price target for the company. Evercore ISI raised Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. Morgan Stanley set a $67.00 price objective on shares of Cytokinetics in a research report on Friday, March 7th. Finally, Royal Bank of Canada lifted their price target on Cytokinetics from $80.00 to $82.00 and gave the company an "outperform" rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $82.00.

Cytokinetics Stock Up 1.0 %

Shares of NASDAQ CYTK traded up $0.38 during trading on Monday, hitting $39.03. The stock had a trading volume of 88,034 shares, compared to its average volume of 1,580,811. 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 firm has a fifty day moving average of $43.17 and a two-hundred day moving average of $48.15. Cytokinetics, Incorporated has a 12 month low of $32.74 and a 12 month high of $71.60. The company has a market capitalization of $4.62 billion, a PE ratio of -7.25 and a beta of 0.94.

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

Insider Activity

In other news, EVP Andrew Callos sold 3,341 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $43.27, for a total transaction of $144,565.07. Following the transaction, the executive vice president now owns 64,434 shares of the company's stock, valued at $2,788,059.18. This represents a 4.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $45.92, for a total value of $91,840.00. Following the completion of the sale, the executive vice president now directly owns 116,071 shares of the company's stock, valued at approximately $5,329,980.32. This trade represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,170 shares of company stock valued at $2,766,739 in the last ninety days. 3.40% of the stock is currently owned by insiders.

Cytokinetics 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.