International Assets Investment Management LLC Acquires New Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

International Assets Investment Management LLC purchased a new stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,560 shares of the biopharmaceutical company's stock, valued at approximately $558,000.

Several other institutional investors have also recently made changes to their positions in the business. J.Safra Asset Management Corp lifted its position in shares of Cytokinetics by 642.3% in the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 456 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Cytokinetics by 65.6% during the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company's stock valued at $32,000 after buying an additional 238 shares during the period. Blue Trust Inc. grew its holdings in shares of Cytokinetics by 225.9% in the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 680 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Cytokinetics during the first quarter valued at $74,000. Finally, Bessemer Group Inc. raised its stake in Cytokinetics by 25,100.0% in the first quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company's stock worth $88,000 after buying an additional 1,255 shares in the last quarter.

Analyst Ratings Changes

Several analysts have weighed in on CYTK shares. Needham & Company LLC reissued a "buy" rating and set a $72.00 target price on shares of Cytokinetics in a research report on Thursday, October 17th. HC Wainwright restated a "buy" rating and issued a $120.00 target price on shares of Cytokinetics in a research note on Thursday, October 17th. JMP Securities reiterated a "market outperform" rating and set a $78.00 price target on shares of Cytokinetics in a research report on Wednesday, September 4th. The Goldman Sachs Group cut shares of Cytokinetics from a "buy" rating to a "neutral" rating and decreased their target price for the company from $85.00 to $60.00 in a research note on Tuesday, August 13th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Cytokinetics in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $83.93.

Insider Activity

In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $51.63, for a total value of $258,150.00. Following the completion of the transaction, the chief executive officer now owns 397,456 shares in the company, valued at $20,520,653.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $51.63, for a total transaction of $258,150.00. Following the sale, the chief executive officer now directly owns 397,456 shares in the company, valued at $20,520,653.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wendall Wierenga sold 4,452 shares of the company's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $52.25, for a total transaction of $232,617.00. Following the completion of the sale, the director now directly owns 24,559 shares in the company, valued at $1,283,207.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,236 shares of company stock worth $3,800,944. 3.40% of the stock is currently owned by corporate insiders.

Cytokinetics Stock Up 5.7 %

Cytokinetics stock traded up $2.98 during mid-day trading on Wednesday, hitting $55.50. The company had a trading volume of 2,315,509 shares, compared to its average volume of 2,077,932. The stock has a market cap of $6.53 billion, a price-to-earnings ratio of -9.78 and a beta of 0.78. The company has a quick ratio of 10.39, a current ratio of 10.39 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 1 year low of $30.68 and a 1 year high of $110.25. The business has a fifty day moving average of $54.11 and a 200 day moving average of $55.70.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing analysts' consensus estimates of ($1.06) by ($0.25). The business had revenue of $0.25 million during the quarter, compared to the consensus estimate of $7.61 million. The company's revenue for the quarter was down 71.3% compared to the same quarter last year. During the same period last year, the firm earned ($1.34) earnings per share. On average, sell-side analysts expect that Cytokinetics, Incorporated will post -5.15 earnings per share for the current fiscal year.

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.