Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Sold by Melqart Asset Management UK Ltd

Melqart Asset Management UK Ltd lowered its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 27.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,212,258 shares of the biopharmaceutical company's stock after selling 463,527 shares during the period. Cytokinetics accounts for 5.8% of Melqart Asset Management UK Ltd's portfolio, making the stock its 6th biggest holding. Melqart Asset Management UK Ltd owned about 1.03% of Cytokinetics worth $64,007,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CYTK. J.Safra Asset Management Corp boosted its position in shares of Cytokinetics by 642.3% during the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 456 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Cytokinetics by 65.6% during the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company's stock valued at $32,000 after purchasing an additional 238 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Cytokinetics by 225.9% during the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 680 shares in the last quarter. Values First Advisors Inc. bought a new position in shares of Cytokinetics during the 3rd quarter valued at about $54,000. Finally, Quarry LP boosted its position in shares of Cytokinetics by 233.3% during the 2nd quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company's stock valued at $108,000 after purchasing an additional 1,400 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have commented on CYTK. Mizuho upped their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the company an "outperform" rating in a research note on Thursday, November 21st. HC Wainwright reaffirmed a "buy" rating and set a $120.00 price objective on shares of Cytokinetics in a research note on Monday. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Cytokinetics in a research note on Friday, October 18th. JPMorgan Chase & Co. increased their price target on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an "overweight" rating in a research report on Thursday, September 5th. Finally, Royal Bank of Canada initiated coverage on shares of Cytokinetics in a research report on Friday, November 8th. They issued an "outperform" rating and a $80.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Cytokinetics has an average rating of "Moderate Buy" and an average price target of $83.93.

Insider Buying and Selling

In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction on Monday, November 18th. The stock was sold at an average price of $50.55, for a total transaction of $252,750.00. Following the completion of the transaction, the chief executive officer now directly owns 397,456 shares of the company's stock, valued at approximately $20,091,400.80. This trade represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $50.16, for a total value of $366,168.00. Following the transaction, the executive vice president now directly owns 111,878 shares of the company's stock, valued at approximately $5,611,800.48. The trade was a 6.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,994 shares of company stock valued at $3,427,975 over the last ninety days. 3.40% of the stock is owned by company insiders.

Cytokinetics Stock Performance

CYTK stock traded down $1.07 during midday trading on Wednesday, hitting $50.44. 1,033,569 shares of the company traded hands, compared to its average volume of 2,026,237. Cytokinetics, Incorporated has a twelve month low of $32.50 and a twelve month high of $110.25. 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 business has a 50 day simple moving average of $53.15 and a 200-day simple moving average of $54.22. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of -9.57 and a beta of 0.80.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The firm had revenue of $0.46 million for the quarter, compared to analyst estimates of $1.21 million. The company's revenue was up 22.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.35) EPS. As a group, equities research analysts predict that Cytokinetics, Incorporated will post -5.25 earnings per share for the current year.

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.