Allspring Global Investments Holdings LLC Boosts Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

Allspring Global Investments Holdings LLC grew its stake in Cytokinetics, Incorporated (NASDAQ:CYTKGet Rating) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 192,355 shares of the biopharmaceutical company’s stock after buying an additional 6,462 shares during the period. Allspring Global Investments Holdings LLC owned 0.20% of Cytokinetics worth $9,319,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wipfli Financial Advisors LLC purchased a new position in shares of Cytokinetics in the third quarter worth $45,000. Chilton Capital Management LLC purchased a new position in shares of Cytokinetics in the second quarter worth $89,000. Captrust Financial Advisors raised its holdings in shares of Cytokinetics by 79.8% in the first quarter. Captrust Financial Advisors now owns 3,910 shares of the biopharmaceutical company’s stock worth $144,000 after buying an additional 1,735 shares during the last quarter. Xponance Inc. purchased a new position in shares of Cytokinetics in the third quarter worth $224,000. Finally, Mizuho Securities USA LLC purchased a new position in shares of Cytokinetics in the third quarter worth $240,000.

Cytokinetics Stock Down 0.8 %

CYTK stock opened at $42.46 on Friday. The firm has a market cap of $4.02 billion, a PE ratio of -13.44 and a beta of 0.96. The company has a debt-to-equity ratio of 1.77, a quick ratio of 11.56 and a current ratio of 11.56. The firm’s fifty day moving average is $41.43 and its 200 day moving average is $45.36. Cytokinetics, Incorporated has a one year low of $29.26 and a one year high of $55.80.

Cytokinetics (NASDAQ:CYTKGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.09). The company had revenue of $2.52 million for the quarter, compared to analysts’ expectations of $2.26 million. Cytokinetics had a negative net margin of 190.34% and a negative return on equity of 225.84%. On average, research analysts forecast that Cytokinetics, Incorporated will post -4.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CYTK shares. The Goldman Sachs Group decreased their price target on shares of Cytokinetics from $55.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, December 15th. JMP Securities cut their price objective on shares of Cytokinetics from $82.00 to $71.00 and set a “market outperform” rating on the stock in a research note on Wednesday, December 14th. JPMorgan Chase & Co. cut their price objective on shares of Cytokinetics from $64.00 to $55.00 in a research note on Friday, December 9th. Truist Financial assumed coverage on shares of Cytokinetics in a research note on Tuesday, December 20th. They issued a “buy” rating and a $60.00 price objective on the stock. Finally, Mizuho assumed coverage on shares of Cytokinetics in a research note on Friday, December 16th. They issued a “buy” rating and a $80.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, Cytokinetics currently has a consensus rating of “Moderate Buy” and an average price target of $59.00.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 4,000 shares of the stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $38.04, for a total transaction of $152,160.00. Following the transaction, the executive vice president now directly owns 164,346 shares of the company’s stock, valued at $6,251,721.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Cytokinetics news, EVP Fady Ibraham Malik sold 4,000 shares of the stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $38.04, for a total transaction of $152,160.00. Following the transaction, the executive vice president now directly owns 164,346 shares of the company’s stock, valued at $6,251,721.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Robert I. Blum sold 10,000 shares of the stock in a transaction on Wednesday, October 19th. The shares were sold at an average price of $47.86, for a total transaction of $478,600.00. Following the transaction, the chief executive officer now directly owns 406,089 shares in the company, valued at $19,435,419.54. The disclosure for this sale can be found here. Insiders have sold a total of 50,100 shares of company stock valued at $2,135,168 over the last ninety days. Corporate insiders own 5.00% of the company’s stock.

Cytokinetics Company Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Cytokinetics (NASDAQ:CYTK)

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