Tower Research Capital LLC TRC Boosts Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

Tower Research Capital LLC TRC increased its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 86.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,920 shares of the biopharmaceutical company's stock after acquiring an additional 7,864 shares during the quarter. Tower Research Capital LLC TRC's holdings in Cytokinetics were worth $796,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Cytokinetics by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company's stock valued at $560,520,000 after purchasing an additional 154,216 shares during the last quarter. Marshall Wace LLP increased its holdings in Cytokinetics by 14.9% during the fourth quarter. Marshall Wace LLP now owns 2,153,313 shares of the biopharmaceutical company's stock worth $101,292,000 after buying an additional 279,612 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Cytokinetics by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,335,189 shares of the biopharmaceutical company's stock worth $62,807,000 after buying an additional 13,798 shares during the last quarter. Capital International Investors purchased a new stake in Cytokinetics during the fourth quarter worth about $51,564,000. Finally, Norges Bank bought a new stake in Cytokinetics during the 4th quarter valued at $46,556,000.

Cytokinetics Stock Up 0.2 %

NASDAQ CYTK traded up $0.07 during trading on Tuesday, reaching $41.29. 1,074,955 shares of the company's stock traded hands, compared to its average volume of 1,608,021. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of -7.67 and a beta of 0.94. The company's 50 day simple moving average is $41.79 and its two-hundred day simple moving average is $46.97. Cytokinetics, Incorporated has a 12-month low of $32.74 and a 12-month high of $68.44.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings results 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 the consensus estimate of $14.26 million. As a group, sell-side analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Insider Buying and Selling

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $48.06, for a total transaction of $96,120.00. Following the completion of the transaction, the executive vice president now directly owns 116,071 shares of the company's stock, valued at approximately $5,578,372.26. This trade represents a 1.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert I. Blum sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $40.96, for a total transaction of $204,800.00. Following the transaction, the chief executive officer now directly owns 417,629 shares of the company's stock, valued at $17,106,083.84. This represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,360 shares of company stock worth $3,848,445 in the last three months. Corporate insiders own 3.40% of the company's stock.

Analyst Upgrades and Downgrades

CYTK has been the subject of a number of recent research reports. Citigroup started coverage on Cytokinetics in a research note on Friday, February 7th. They issued a "buy" rating and a $86.00 target price for the company. JMP Securities restated a "market outperform" rating and set a $78.00 price target on shares of Cytokinetics in a report on Thursday, April 10th. HC Wainwright reiterated a "buy" rating and set a $120.00 target price on shares of Cytokinetics in a report on Monday, April 21st. Stifel Nicolaus assumed coverage on Cytokinetics in a report on Wednesday, January 22nd. They set a "buy" rating and a $80.00 target price on the stock. Finally, Evercore ISI upgraded Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $79.13.

About Cytokinetics

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.