Skandinaviska Enskilda Banken AB publ Increases Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Skandinaviska Enskilda Banken AB publ grew its position in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 16.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 182,126 shares of the biopharmaceutical company's stock after purchasing an additional 26,332 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.15% of Cytokinetics worth $8,585,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp grew its holdings in Cytokinetics by 189.8% in the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 374 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in Cytokinetics in the fourth quarter worth $29,000. AlphaQuest LLC grew its holdings in Cytokinetics by 113,500.0% in the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 1,135 shares during the last quarter. J.Safra Asset Management Corp grew its holdings in Cytokinetics by 62.1% in 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 during the last quarter. Finally, Blue Trust Inc. grew its holdings in Cytokinetics by 85.8% in the fourth quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company's stock worth $86,000 after purchasing an additional 842 shares during the last quarter.

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Analyst Ratings Changes

CYTK has been the subject of several research reports. HC Wainwright reiterated a "buy" rating and set a $120.00 price objective on shares of Cytokinetics in a research note on Friday, February 28th. Mizuho lifted their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an "outperform" rating in a research note on Thursday, November 21st. JMP Securities restated a "market outperform" rating and set a $78.00 target price on shares of Cytokinetics in a research report on Friday, February 7th. Citigroup assumed coverage on shares of Cytokinetics in a research report on Friday, February 7th. They set a "buy" rating and a $86.00 target price for the company. Finally, Needham & Company LLC restated a "buy" rating and set a $72.00 target price on shares of Cytokinetics in a research report on Thursday, February 6th. Two equities research 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's stock. According to MarketBeat, Cytokinetics presently has an average rating of "Moderate Buy" and an average target price of $82.00.

Cytokinetics Stock Performance

CYTK traded up $0.17 on Wednesday, reaching $43.45. The stock had a trading volume of 1,155,960 shares, compared to its average volume of 1,470,637. Cytokinetics, Incorporated has a 12-month low of $40.53 and a 12-month high of $75.71. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The business's 50-day moving average price is $46.15 and its two-hundred day moving average price is $50.13. The company has a market cap of $5.14 billion, a P/E ratio of -8.08 and a beta of 0.95.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released 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 firm had revenue of $16.93 million during the quarter, compared to analysts' expectations of $14.26 million. Sell-side analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Insider Transactions at Cytokinetics

In other news, EVP Andrew Callos sold 2,775 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $44.38, for a total transaction of $123,154.50. Following the completion of the sale, the executive vice president now owns 34,888 shares of the company's stock, valued at $1,548,329.44. The trade was a 7.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert I. Blum sold 12,648 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $44.38, for a total transaction of $561,318.24. Following the sale, the chief executive officer now directly owns 326,533 shares of the company's stock, valued at $14,491,534.54. This represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,834 shares of company stock valued at $1,949,275 over the last 90 days. Corporate insiders own 3.40% of the company's stock.

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.