Intech Investment Management LLC Has $2.37 Million Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Intech Investment Management LLC boosted its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 53.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,273 shares of the biopharmaceutical company's stock after purchasing an additional 17,602 shares during the quarter. Intech Investment Management LLC's holdings in Cytokinetics were worth $2,365,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Harvey Capital Management Inc. bought a new stake in shares of Cytokinetics during the fourth quarter worth approximately $1,040,000. Westfield Capital Management Co. LP grew its holdings in Cytokinetics by 38.9% during 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 acquiring an additional 339,373 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Cytokinetics by 42.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company's stock valued at $69,769,000 after acquiring an additional 395,709 shares during the last quarter. abrdn plc lifted its stake in shares of Cytokinetics by 29.4% in the 4th quarter. abrdn plc now owns 450,513 shares of the biopharmaceutical company's stock valued at $21,192,000 after purchasing an additional 102,457 shares during the period. Finally, AlphaQuest LLC boosted its position in shares of Cytokinetics by 113,500.0% in the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 1,135 shares during the last quarter.

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Insider Activity at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $49.32, for a total value of $98,640.00. Following the completion of the transaction, the executive vice president now owns 116,071 shares of the company's stock, valued at $5,724,621.72. This trade represents a 1.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Andrew Callos sold 3,341 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $43.27, for a total transaction of $144,565.07. Following the completion of the sale, the executive vice president now directly owns 64,434 shares in the company, valued at approximately $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 sold 43,834 shares of company stock valued at $1,949,275. Corporate insiders own 3.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CYTK shares. Royal Bank of Canada upped their price objective on Cytokinetics from $80.00 to $82.00 and gave the company an "outperform" rating in a report on Wednesday, December 18th. Citigroup initiated 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 shares of Cytokinetics to a "strong-buy" rating in a research note on Friday, February 7th. HC Wainwright reaffirmed a "buy" rating and issued a $120.00 target price on shares of Cytokinetics in a research note on Friday, February 28th. Finally, JMP Securities reissued a "market outperform" rating and set a $78.00 price target on shares of Cytokinetics in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $82.00.

Cytokinetics Stock Down 4.3 %

Shares of CYTK stock traded down $2.02 on Tuesday, hitting $44.55. 1,310,789 shares of the stock were exchanged, compared to its average volume of 1,478,498. The business has a 50-day moving average of $45.96 and a 200 day moving average of $49.82. Cytokinetics, Incorporated has a fifty-two week low of $40.53 and a fifty-two week high of $75.71. The firm has a market capitalization of $5.28 billion, a P/E ratio of -8.28 and a beta of 0.95. 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 released its quarterly 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 firm had revenue of $16.93 million for the quarter, compared to analyst estimates of $14.26 million. Equities analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

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.