Massachusetts Financial Services Co. MA Trims Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

Massachusetts Financial Services Co. MA reduced its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 319,281 shares of the biopharmaceutical company's stock after selling 25,167 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.27% of Cytokinetics worth $15,019,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Cytokinetics by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company's stock valued at $560,520,000 after buying an additional 154,216 shares during the period. Geode Capital Management LLC raised its stake in shares of Cytokinetics by 4.0% during the third quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company's stock valued at $150,433,000 after acquiring an additional 109,938 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cytokinetics by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,335,189 shares of the biopharmaceutical company's stock worth $62,807,000 after purchasing an additional 13,798 shares during the period. Norges Bank bought a new stake in shares of Cytokinetics in the fourth quarter worth about $46,556,000. Finally, Fisher Asset Management LLC increased its holdings in Cytokinetics by 13.7% during the 4th quarter. Fisher Asset Management LLC now owns 616,492 shares of the biopharmaceutical company's stock valued at $29,000,000 after purchasing an additional 74,208 shares during the period.

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Cytokinetics Stock Up 2.1 %

CYTK traded up $0.80 during trading on Friday, hitting $38.65. 2,450,299 shares of the company's stock traded hands, compared to its average volume of 1,583,353. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of -7.18 and a beta of 0.94. The company's 50 day simple moving average is $43.17 and its two-hundred day simple moving average is $48.18. Cytokinetics, Incorporated has a 12-month low of $32.74 and a 12-month 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 released its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) 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. Analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CYTK has been the subject of several research analyst reports. Evercore ISI upgraded Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. HC Wainwright restated a "buy" rating and set a $120.00 target price on shares of Cytokinetics in a report on Friday, April 4th. Morgan Stanley set a $67.00 target price on shares of Cytokinetics in a research report on Friday, March 7th. Needham & Company LLC reissued a "buy" rating and set a $72.00 price target on shares of Cytokinetics in a research report on Tuesday. Finally, Stifel Nicolaus assumed coverage on shares of Cytokinetics in a report on Wednesday, January 22nd. They issued a "buy" rating and a $80.00 price objective on the stock. Two investment 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $82.00.

Insider Activity

In other news, EVP Andrew Callos sold 3,341 shares of the firm's stock in a transaction 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 transaction, the executive vice president now directly owns 64,434 shares in the company, valued at $2,788,059.18. This trade represents a 4.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Robert I. Blum sold 16,970 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $43.44, for a total value of $737,176.80. Following the sale, the chief executive officer now owns 364,181 shares of the company's stock, valued at approximately $15,820,022.64. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,170 shares of company stock valued at $2,766,739 in the last 90 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.