MetLife Investment Management LLC Has $6.29 Million Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

MetLife Investment Management LLC boosted its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 133,702 shares of the biopharmaceutical company's stock after buying an additional 10,394 shares during the period. MetLife Investment Management LLC owned approximately 0.11% of Cytokinetics worth $6,289,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Cytokinetics by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company's stock valued at $560,520,000 after purchasing an additional 154,216 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Cytokinetics by 14.9% during the 4th quarter. Marshall Wace LLP now owns 2,153,313 shares of the biopharmaceutical company's stock worth $101,292,000 after buying an additional 279,612 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Cytokinetics by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,335,189 shares of the biopharmaceutical company's stock valued at $62,807,000 after buying an additional 13,798 shares in the last quarter. Capital International Investors bought a new position in Cytokinetics in the fourth quarter valued at about $51,564,000. Finally, Norges Bank acquired a new position in Cytokinetics during the fourth quarter worth about $46,556,000.

Cytokinetics Trading Down 0.3 %

CYTK opened at $37.81 on Wednesday. Cytokinetics, Incorporated has a twelve month low of $32.74 and a twelve month high of $68.76. The company has a fifty day moving average of $42.47 and a 200-day moving average of $47.46. The stock has a market cap of $4.51 billion, a PE ratio of -7.03 and a beta of 0.94. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued 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 business had revenue of $16.93 million for the quarter, compared to analyst estimates of $14.26 million. On average, sell-side analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Wall Street Analysts Forecast Growth

CYTK has been the topic of several research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 price target on shares of Cytokinetics in a report on Tuesday, April 8th. HC Wainwright reaffirmed a "buy" rating and set a $120.00 target price on shares of Cytokinetics in a research note on Monday. Morgan Stanley set a $67.00 price target on Cytokinetics in a research note on Friday, March 7th. Citigroup started coverage on Cytokinetics in a report on Friday, February 7th. They issued a "buy" rating and a $86.00 target price for the company. Finally, JMP Securities reissued a "market outperform" rating and set a $78.00 price target on shares of Cytokinetics in a research note on Thursday, April 10th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.63.

Insiders Place Their Bets

In other news, EVP Fady Ibraham Malik sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $48.06, for a total transaction of $96,120.00. Following the completion of the sale, the executive vice president now owns 116,071 shares of the company's stock, valued at $5,578,372.26. This trade represents a 1.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Andrew Callos sold 3,341 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $43.27, for a total transaction of $144,565.07. Following the transaction, the executive vice president now owns 64,434 shares in the company, valued at $2,788,059.18. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 88,360 shares of company stock worth $3,643,645. 3.40% of the stock is owned by corporate 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.

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