Rhenman & Partners Asset Management AB Sells 31,250 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Rhenman & Partners Asset Management AB decreased its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 17.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 149,250 shares of the biopharmaceutical company's stock after selling 31,250 shares during the quarter. Rhenman & Partners Asset Management AB owned about 0.13% of Cytokinetics worth $7,021,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Cytokinetics by 19.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,376 shares of the biopharmaceutical company's stock valued at $1,393,000 after purchasing an additional 4,282 shares during the period. Janus Henderson Group PLC grew its holdings in Cytokinetics by 17.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company's stock worth $60,399,000 after buying an additional 167,501 shares in the last quarter. Quarry LP increased its position in Cytokinetics by 50.0% in the 3rd quarter. Quarry LP now owns 3,000 shares of the biopharmaceutical company's stock valued at $158,000 after acquiring an additional 1,000 shares during the period. Stifel Financial Corp increased its holdings in shares of Cytokinetics by 8.5% during the third quarter. Stifel Financial Corp now owns 25,067 shares of the biopharmaceutical company's stock valued at $1,324,000 after purchasing an additional 1,959 shares during the period. Finally, Two Sigma Advisers LP bought a new stake in shares of Cytokinetics during the third quarter valued at about $11,336,000.

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Insider Activity at Cytokinetics

In other news, CEO Robert I. Blum sold 16,970 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $43.44, for a total transaction of $737,176.80. Following the transaction, the chief executive officer now owns 364,181 shares in the company, valued at approximately $15,820,022.64. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Fady Ibraham Malik sold 2,000 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was 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 represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,170 shares of company stock valued at $2,582,889. 3.40% of the stock is currently owned by corporate insiders.

Cytokinetics Stock Down 2.1 %

Shares of NASDAQ CYTK traded down $0.77 during mid-day trading on Thursday, reaching $36.55. The company had a trading volume of 972,294 shares, compared to its average volume of 1,567,008. The stock has a market capitalization of $4.33 billion, a PE ratio of -6.78 and a beta of 0.94. Cytokinetics, Incorporated has a twelve month low of $32.74 and a twelve month high of $75.50. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The stock's 50 day moving average is $43.59 and its 200-day moving average is $48.38.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.03. The firm had revenue of $16.93 million during the quarter, compared to analyst estimates of $14.26 million. As a group, equities analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on CYTK shares. Evercore ISI upgraded shares of Cytokinetics to a "strong-buy" rating in a research note on Friday, February 7th. Citigroup started coverage on Cytokinetics in a report on Friday, February 7th. They issued a "buy" rating and a $86.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and issued a $72.00 price target on shares of Cytokinetics in a research report on Tuesday. Stifel Nicolaus initiated coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They issued a "buy" rating and a $80.00 price objective on the stock. Finally, Morgan Stanley set a $67.00 target price on shares of Cytokinetics in a report on Friday, March 7th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $82.00.

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.