Swiss National Bank Has $9.90 Million Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

Swiss National Bank increased its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK – Get Rating) by 11.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,000 shares of the biopharmaceutical company’s stock after buying an additional 23,000 shares during the quarter. Swiss National Bank owned about 0.23% of Cytokinetics worth $9,897,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Cytokinetics by 8.6% in the third quarter. BlackRock Inc. now owns 14,569,992 shares of the biopharmaceutical company’s stock worth $705,918,000 after purchasing an additional 1,156,696 shares during the period. Vanguard Group Inc. raised its position in shares of Cytokinetics by 11.5% in the 3rd quarter. Vanguard Group Inc. now owns 9,991,334 shares of the biopharmaceutical company’s stock valued at $484,081,000 after buying an additional 1,031,114 shares in the last quarter. State Street Corp lifted its holdings in shares of Cytokinetics by 7.3% during the 2nd quarter. State Street Corp now owns 4,504,226 shares of the biopharmaceutical company’s stock worth $176,971,000 after acquiring an additional 307,394 shares during the period. RTW Investments LP boosted its position in shares of Cytokinetics by 0.5% during the 3rd quarter. RTW Investments LP now owns 2,574,198 shares of the biopharmaceutical company’s stock worth $124,720,000 after acquiring an additional 13,016 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Cytokinetics by 20.7% in the third quarter. Bank of New York Mellon Corp now owns 1,372,769 shares of the biopharmaceutical company’s stock valued at $66,510,000 after acquiring an additional 235,823 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CYTK shares. StockNews.com upgraded Cytokinetics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Cantor Fitzgerald lowered their price objective on shares of Cytokinetics from $61.00 to $59.00 and set an “overweight” rating for the company in a research report on Monday, April 3rd. Bank of America decreased their target price on shares of Cytokinetics from $50.00 to $42.00 in a research note on Sunday, April 2nd. JMP Securities reiterated a “buy” rating and issued a $71.00 price target on shares of Cytokinetics in a research note on Thursday, March 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $58.00 price target on shares of Cytokinetics in a research note on Wednesday, March 1st. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.29.

Cytokinetics Trading Up 3.5 %

NASDAQ CYTK opened at $38.95 on Tuesday. The business has a fifty day simple moving average of $36.80 and a 200 day simple moving average of $40.21. Cytokinetics, Incorporated has a 12 month low of $32.96 and a 12 month high of $55.80. The firm has a market capitalization of $3.73 billion, a P/E ratio of -8.50 and a beta of 0.80.

Cytokinetics (NASDAQ:CYTK – Get Rating) last announced its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($1.24) by ($0.14). Cytokinetics had a negative net margin of 439.05% and a negative return on equity of 1,401.63%. The firm had revenue of $4.60 million during the quarter, compared to analysts’ expectations of $2.50 million. During the same quarter in the prior year, the company earned ($1.02) EPS. The business’s revenue for the quarter was up 300.0% on a year-over-year basis. As a group, sell-side analysts predict that Cytokinetics, Incorporated will post -4.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cytokinetics news, EVP Fady Ibraham Malik sold 1,787 shares of Cytokinetics stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $39.50, for a total transaction of $70,586.50. Following the transaction, the executive vice president now owns 165,396 shares of the company’s stock, valued at approximately $6,533,142. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director John T. Henderson sold 4,166 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $37.77, for a total transaction of $157,349.82. Following the completion of the sale, the director now directly owns 25,420 shares of the company’s stock, valued at approximately $960,113.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Fady Ibraham Malik sold 1,787 shares of the business’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $39.50, for a total transaction of $70,586.50. Following the completion of the transaction, the executive vice president now directly owns 165,396 shares in the company, valued at $6,533,142. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,687 shares of company stock valued at $3,221,425. Corporate insiders own 3.80% of the company’s stock.

About Cytokinetics

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Cytokinetics, Inc is a biopharmaceutical company, which is focused on discovering, developing, and commercializing muscle activators and muscle inhibitors as potential treatments for people with debilitating diseases in which muscle performance is compromised and/or declining. The firm is developing small molecule drug candidates specifically engineered to impact muscle function and contractility.