The Manufacturers Life Insurance Company Boosts Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

The Manufacturers Life Insurance Company lifted its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 23.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 214,832 shares of the biopharmaceutical company's stock after purchasing an additional 41,057 shares during the period. The Manufacturers Life Insurance Company owned about 0.18% of Cytokinetics worth $11,343,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Darwin Global Management Ltd. bought a new stake in shares of Cytokinetics in the 2nd quarter worth approximately $246,074,000. Integral Health Asset Management LLC boosted its holdings in Cytokinetics by 122.2% in the second quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company's stock worth $54,180,000 after acquiring an additional 550,000 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Cytokinetics by 42.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company's stock worth $69,769,000 after buying an additional 395,709 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in Cytokinetics by 38.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company's stock valued at $64,040,000 after purchasing an additional 339,373 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Cytokinetics in the 2nd quarter worth $14,957,000.

Insider Transactions at Cytokinetics

In other news, Director Wendall Wierenga sold 4,452 shares of Cytokinetics stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $52.25, for a total value of $232,617.00. Following the transaction, the director now owns 24,559 shares of the company's stock, valued at $1,283,207.75. The trade was a 15.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert I. Blum sold 5,000 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $50.76, for a total value of $253,800.00. Following the transaction, the chief executive officer now directly owns 397,678 shares in the company, valued at approximately $20,186,135.28. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,994 shares of company stock worth $3,427,975. 3.40% of the stock is currently owned by insiders.

Cytokinetics Price Performance

Shares of Cytokinetics stock traded up $0.38 during trading hours on Tuesday, reaching $51.01. The company's stock had a trading volume of 371,157 shares, compared to its average volume of 2,027,260. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. Cytokinetics, Incorporated has a one year low of $32.50 and a one year high of $110.25. The firm has a 50 day moving average price of $53.18 and a 200-day moving average price of $54.28. The stock has a market cap of $6.02 billion, a P/E ratio of -9.43 and a beta of 0.80.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.27) by ($0.09). The company had revenue of $0.46 million during the quarter, compared to the consensus estimate of $1.21 million. During the same period in the previous year, the company posted ($1.35) EPS. The firm's revenue was up 22.5% compared to the same quarter last year. On average, analysts predict that Cytokinetics, Incorporated will post -5.25 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on CYTK shares. Cantor Fitzgerald restated an "overweight" rating on shares of Cytokinetics in a research report on Friday, October 18th. JPMorgan Chase & Co. lifted their price objective on Cytokinetics from $65.00 to $71.00 and gave the stock an "overweight" rating in a report on Thursday, September 5th. Mizuho upped their price objective on Cytokinetics from $99.00 to $103.00 and gave the company an "outperform" rating in a research report on Thursday, November 21st. HC Wainwright reissued a "buy" rating and issued a $120.00 target price on shares of Cytokinetics in a research report on Monday. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $78.00 price target on shares of Cytokinetics in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $83.93.

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.