Groupama Asset Managment Buys Shares of 350,000 Cytokinetics, Incorporated (NASDAQ:CYTK)

Groupama Asset Managment bought a new stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 350,000 shares of the biopharmaceutical company's stock, valued at approximately $16,464,000. Groupama Asset Managment owned about 0.30% of Cytokinetics as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in Cytokinetics in the fourth quarter valued at about $46,556,000. Checkpoint Capital L.P. raised its holdings in shares of Cytokinetics by 145.7% in the third quarter. Checkpoint Capital L.P. now owns 466,813 shares of the biopharmaceutical company's stock worth $24,648,000 after buying an additional 276,813 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Cytokinetics during the third quarter worth $11,336,000. Janus Henderson Group PLC grew its holdings in shares of Cytokinetics by 17.2% during the third quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company's stock valued at $60,399,000 after buying an additional 167,501 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Cytokinetics by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company's stock valued at $560,520,000 after acquiring an additional 154,216 shares during the period.

Cytokinetics Price Performance

Shares of Cytokinetics stock traded down $3.16 during trading hours on Friday, reaching $37.36. 3,208,825 shares of the company's stock were exchanged, compared to its average volume of 1,543,323. The business has a fifty day moving average of $44.93 and a two-hundred day moving average of $49.03. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The company has a market capitalization of $4.42 billion, a P/E ratio of -6.94 and a beta of 0.94. Cytokinetics, Incorporated has a 1 year low of $36.89 and a 1 year high of $75.71.

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Cytokinetics (NASDAQ:CYTK - Get Free Report) last released 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, research analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CYTK. Morgan Stanley set a $67.00 price objective on shares of Cytokinetics in a research note on Friday, March 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 target price on shares of Cytokinetics in a report on Thursday, February 6th. Citigroup assumed coverage on Cytokinetics in a research report on Friday, February 7th. They issued a "buy" rating and a $86.00 price objective on the stock. Evercore ISI raised shares of Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. Finally, Royal Bank of Canada increased their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cytokinetics has a consensus rating of "Moderate Buy" and a consensus price target of $82.00.

Insiders Place Their Bets

In other news, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $45.92, for a total transaction of $91,840.00. Following the sale, the executive vice president now owns 116,071 shares of the company's stock, valued at approximately $5,329,980.32. The trade was a 1.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew Callos sold 3,341 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $43.27, for a total value of $144,565.07. Following the completion of the transaction, the executive vice president now owns 64,434 shares of the company's stock, valued at $2,788,059.18. The trade was a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,284 shares of company stock valued at $2,578,268. Insiders own 3.40% of the company's stock.

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.