Cytokinetics, Incorporated (NASDAQ:CYTK) Position Reduced by Schroder Investment Management Group

Schroder Investment Management Group lessened its stake in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 97.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,433 shares of the biopharmaceutical company's stock after selling 5,536,292 shares during the period. Schroder Investment Management Group owned 0.13% of Cytokinetics worth $7,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its stake in shares of Cytokinetics by 189.8% during the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 374 shares during the period. Centricity Wealth Management LLC purchased a new position in shares of Cytokinetics in the 4th quarter valued at about $29,000. AlphaQuest LLC lifted its position in shares of Cytokinetics by 113,500.0% during the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock valued at $53,000 after acquiring an additional 1,135 shares during the period. J.Safra Asset Management Corp boosted its position in Cytokinetics by 62.1% during the fourth quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company's stock worth $83,000 after purchasing an additional 671 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Cytokinetics by 85.8% in the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company's stock worth $86,000 after buying an additional 842 shares in the last quarter.

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Insider Transactions at Cytokinetics

In related news, EVP Andrew Callos sold 3,341 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $43.27, for a total transaction of $144,565.07. Following the completion of the transaction, the executive vice president now directly owns 64,434 shares in the company, valued at $2,788,059.18. This represents a 4.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $737,176.80. Following the completion of the sale, the chief executive officer now owns 364,181 shares in the company, valued at $15,820,022.64. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,170 shares of company stock worth $2,582,889. 3.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Evercore ISI upgraded Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 price target on shares of Cytokinetics in a research report on Tuesday. JMP Securities restated a "market outperform" rating and issued a $78.00 price objective on shares of Cytokinetics 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. Finally, Morgan Stanley set a $67.00 price objective on shares of Cytokinetics in a research report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $82.00.

Cytokinetics Stock Performance

CYTK stock traded up $2.75 during trading on Wednesday, hitting $37.32. 3,240,080 shares of the company's stock traded hands, compared to its average volume of 1,569,201. The stock has a fifty day moving average price of $43.59 and a two-hundred day moving average price of $48.38. 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, Incorporated has a 52 week low of $32.74 and a 52 week high of $75.50. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of -6.94 and a beta of 0.94.

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