Swiss National Bank Buys 20,000 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Swiss National Bank lifted its position in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 10.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 215,500 shares of the biopharmaceutical company's stock after buying an additional 20,000 shares during the period. Swiss National Bank owned approximately 0.18% of Cytokinetics worth $11,378,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. J.Safra Asset Management Corp raised its position in shares of Cytokinetics by 642.3% during the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 456 shares during the period. UMB Bank n.a. raised its position in shares of Cytokinetics by 65.6% during the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company's stock worth $32,000 after purchasing an additional 238 shares during the period. Blue Trust Inc. raised its position in shares of Cytokinetics by 225.9% during the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 680 shares during the period. Values First Advisors Inc. acquired a new stake in shares of Cytokinetics during the third quarter worth $54,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Cytokinetics during the first quarter worth $74,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CYTK. Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 target price on shares of Cytokinetics in a research report on Wednesday. Mizuho upped their price target on Cytokinetics from $99.00 to $103.00 and gave the company an "outperform" rating in a research report on Thursday. Cantor Fitzgerald reissued an "overweight" rating on shares of Cytokinetics in a research report on Friday, October 18th. The Goldman Sachs Group lowered Cytokinetics from a "buy" rating to a "neutral" rating and dropped their price target for the company from $85.00 to $60.00 in a research report on Tuesday, August 13th. Finally, Royal Bank of Canada started coverage on Cytokinetics in a research report on Friday, November 8th. They set an "outperform" rating and a $80.00 price target on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $83.93.

Insider Buying and Selling at Cytokinetics

In other news, CEO Robert I. Blum sold 5,000 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $50.55, for a total transaction of $252,750.00. Following the transaction, the chief executive officer now owns 397,456 shares in the company, valued at approximately $20,091,400.80. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Fady Ibraham Malik sold 6,342 shares of Cytokinetics stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $58.48, for a total value of $370,880.16. Following the sale, the executive vice president now directly owns 113,878 shares in the company, valued at approximately $6,659,585.44. This trade represents a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,078 shares of company stock valued at $3,514,119 in the last 90 days. 3.40% of the stock is currently owned by insiders.

Cytokinetics Stock Performance

CYTK stock traded up $1.43 during midday trading on Friday, hitting $49.10. 1,640,063 shares of the company traded hands, compared to its average volume of 1,327,898. The business has a 50 day simple moving average of $53.60 and a 200-day simple moving average of $54.74. 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 twelve month low of $30.68 and a twelve month high of $110.25. The stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of -9.13 and a beta of 0.78.

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

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.