Victory Capital Management Inc. Has $1.02 Million Stock Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Victory Capital Management Inc. lowered its position in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 39.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,716 shares of the biopharmaceutical company's stock after selling 13,888 shares during the period. Victory Capital Management Inc.'s holdings in Cytokinetics were worth $1,022,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in Cytokinetics by 42.7% during the 3rd 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 lifted its position in shares of Cytokinetics by 38.9% during the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company's stock worth $64,040,000 after purchasing an additional 339,373 shares in the last quarter. Checkpoint Capital L.P. grew its stake in shares of Cytokinetics by 145.7% during the third quarter. Checkpoint Capital L.P. now owns 466,813 shares of the biopharmaceutical company's stock valued at $24,648,000 after purchasing an additional 276,813 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Cytokinetics in the third quarter valued at approximately $11,336,000. Finally, Janus Henderson Group PLC raised its position in Cytokinetics by 17.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company's stock worth $60,399,000 after purchasing an additional 167,501 shares during the last quarter.

Remove Ads

Analyst Ratings Changes

Several brokerages have recently issued reports on CYTK. Stifel Nicolaus assumed coverage on Cytokinetics in a research note on Wednesday, January 22nd. They set a "buy" rating and a $80.00 price target on the stock. Citigroup began coverage on shares of Cytokinetics in a report on Friday, February 7th. They issued a "buy" rating and a $86.00 price target for the company. Morgan Stanley set a $67.00 price objective on Cytokinetics in a research note on Friday, March 7th. HC Wainwright reissued a "buy" rating and issued a $120.00 target price on shares of Cytokinetics in a research note on Friday, February 28th. Finally, Royal Bank of Canada raised their price target on Cytokinetics from $80.00 to $82.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cytokinetics currently has a consensus rating of "Moderate Buy" and an average target price of $82.00.

Cytokinetics Stock Up 2.5 %

CYTK stock traded up $1.14 during mid-day trading on Monday, reaching $46.57. The company had a trading volume of 2,915,462 shares, compared to its average volume of 1,479,117. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of -8.66 and a beta of 0.95. Cytokinetics, Incorporated has a 52 week low of $40.53 and a 52 week high of $75.71. The stock has a 50 day simple moving average of $45.96 and a two-hundred day simple moving average of $49.89. 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 (NASDAQ:CYTK - Get Free Report) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping analysts' consensus estimates of ($1.29) by $0.03. The firm had revenue of $16.93 million for the quarter, compared to analyst estimates of $14.26 million. As a group, equities analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Insider Activity

In other Cytokinetics news, CEO Robert I. Blum sold 16,970 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $43.44, for a total transaction of $737,176.80. Following the completion of the sale, the chief executive officer now owns 364,181 shares of the company's stock, valued at $15,820,022.64. This trade represents a 4.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Fady Ibraham Malik sold 2,000 shares of the company's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $49.32, for a total transaction of $98,640.00. Following the completion of the transaction, the executive vice president now owns 116,071 shares in the company, valued at approximately $5,724,621.72. This represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,834 shares of company stock valued at $1,949,275. 3.40% of the stock is owned by company insiders.

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.