Cytokinetics, Incorporated (NASDAQ:CYTK) Position Boosted by UBS Group AG

UBS Group AG raised its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK – Get Rating) by 58.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 335,217 shares of the biopharmaceutical company’s stock after acquiring an additional 124,320 shares during the quarter. UBS Group AG owned approximately 0.35% of Cytokinetics worth $15,360,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Amalgamated Bank increased its holdings in Cytokinetics by 8.5% in the third quarter. Amalgamated Bank now owns 43,861 shares of the biopharmaceutical company’s stock worth $2,125,000 after buying an additional 3,453 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Cytokinetics in the third quarter worth approximately $349,000. Oregon Public Employees Retirement Fund increased its holdings in Cytokinetics by 10.9% in the third quarter. Oregon Public Employees Retirement Fund now owns 31,150 shares of the biopharmaceutical company’s stock worth $1,509,000 after buying an additional 3,061 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in Cytokinetics by 0.4% in the third quarter. Nuveen Asset Management LLC now owns 362,353 shares of the biopharmaceutical company’s stock worth $17,555,000 after buying an additional 1,344 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in Cytokinetics by 6.8% in the fourth quarter. Handelsbanken Fonder AB now owns 12,600 shares of the biopharmaceutical company’s stock worth $577,000 after buying an additional 800 shares during the last quarter.

Cytokinetics Price Performance

Shares of CYTK stock opened at $38.98 on Friday. The stock has a market cap of $3.73 billion, a P/E ratio of -8.51 and a beta of 0.80. Cytokinetics, Incorporated has a one year low of $32.96 and a one year high of $55.80. The stock has a fifty day moving average price of $36.80 and a 200 day moving average price of $40.08.

Cytokinetics (NASDAQ:CYTK – Get Rating) last issued 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). The firm had revenue of $4.60 million during the quarter, compared to the consensus estimate of $2.50 million. Cytokinetics had a negative return on equity of 1,401.63% and a negative net margin of 439.05%. The firm’s revenue for the quarter was up 300.0% compared to the same quarter last year. During the same period last year, the business earned ($1.02) earnings per share. Equities research analysts anticipate that Cytokinetics, Incorporated will post -4.46 EPS for the current year.

Insider Buying and Selling

In related news, EVP Fady Ibraham Malik sold 4,000 shares of the firm’s stock in a transaction on Thursday, April 13th. The stock was sold at an average price of $34.21, for a total value of $136,840.00. Following the completion of the transaction, the executive vice president now directly owns 167,183 shares of the company’s stock, valued at $5,719,330.43. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Cytokinetics news, EVP Fady Ibraham Malik sold 4,000 shares of the stock in a transaction on Thursday, April 13th. The stock was sold at an average price of $34.21, for a total transaction of $136,840.00. Following the completion of the transaction, the executive vice president now directly owns 167,183 shares in the company, valued at $5,719,330.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert I. Blum sold 12,500 shares of the stock in a transaction on Tuesday, March 28th. The stock was sold at an average price of $35.05, for a total value of $438,125.00. Following the transaction, the chief executive officer now owns 441,058 shares of the company’s stock, valued at $15,459,082.90. The disclosure for this sale can be found here. Insiders sold a total of 98,187 shares of company stock valued at $3,689,050 over the last ninety days. 3.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Oppenheimer lowered their price target on Cytokinetics from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday, March 1st. Mizuho assumed coverage on Cytokinetics in a report on Monday, March 6th. They set a “buy” rating and a $80.00 price target on the stock. HC Wainwright lowered their price target on Cytokinetics from $56.00 to $49.00 and set a “buy” rating on the stock in a report on Friday, March 31st. Bank of America lowered their price target on Cytokinetics from $50.00 to $42.00 in a report on Sunday, April 2nd. Finally, Cantor Fitzgerald lowered their price target on Cytokinetics from $61.00 to $59.00 and set an “overweight” rating on the stock in a report on Monday, April 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.29.

Cytokinetics Company Profile

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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.