Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 14.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,137 shares of the biopharmaceutical company’s stock after acquiring an additional 2,557 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cytokinetics were worth $1,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CYTK. Assenagon Asset Management S.A. purchased a new stake in shares of Cytokinetics during the fourth quarter valued at approximately $46,308,000. Vanguard Group Inc. grew its holdings in Cytokinetics by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company’s stock worth $316,498,000 after acquiring an additional 472,595 shares during the last quarter. Affinity Asset Advisors LLC increased its position in shares of Cytokinetics by 84.1% in the third quarter. Affinity Asset Advisors LLC now owns 230,366 shares of the biopharmaceutical company’s stock valued at $6,787,000 after acquiring an additional 105,218 shares during the period. Hudson Bay Capital Management LP raised its stake in shares of Cytokinetics by 300.0% during the third quarter. Hudson Bay Capital Management LP now owns 80,000 shares of the biopharmaceutical company’s stock valued at $2,357,000 after acquiring an additional 60,000 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Cytokinetics during the fourth quarter worth about $4,099,000.

Cytokinetics Stock Up 1.9 %

Cytokinetics stock opened at $66.82 on Thursday. Cytokinetics, Incorporated has a twelve month low of $25.98 and a twelve month high of $110.25. The company has a market capitalization of $6.99 billion, a P/E ratio of -12.26 and a beta of 0.68. The stock’s 50 day moving average is $70.41 and its 200 day moving average is $59.55.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.35). The firm had revenue of $1.70 million during the quarter, compared to analysts’ expectations of $7.62 million. The company’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.45) earnings per share. As a group, equities analysts expect that Cytokinetics, Incorporated will post -4.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Truist Financial restated a “buy” rating and set a $86.00 price target on shares of Cytokinetics in a report on Monday, April 8th. Oppenheimer reaffirmed an “outperform” rating and issued a $107.00 price target on shares of Cytokinetics in a research note on Monday, March 4th. HC Wainwright reissued a “buy” rating and set a $94.00 price objective on shares of Cytokinetics in a research report on Wednesday, February 28th. Morgan Stanley restated an “equal weight” rating and issued a $90.00 price objective (up from $60.00) on shares of Cytokinetics in a report on Friday, January 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $108.00 target price on shares of Cytokinetics in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $79.33.

Insider Activity

In other Cytokinetics news, CEO Robert I. Blum sold 12,500 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $79.57, for a total transaction of $994,625.00. Following the completion of the sale, the chief executive officer now directly owns 441,797 shares in the company, valued at approximately $35,153,787.29. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director John T. Henderson sold 5,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $76.48, for a total transaction of $382,400.00. Following the completion of the sale, the director now owns 42,632 shares of the company’s stock, valued at approximately $3,260,495.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Robert I. Blum sold 12,500 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $79.57, for a total value of $994,625.00. Following the completion of the transaction, the chief executive officer now directly owns 441,797 shares in the company, valued at $35,153,787.29. The disclosure for this sale can be found here. Insiders have sold a total of 115,314 shares of company stock valued at $8,588,205 over the last ninety days. 3.40% of the stock is currently owned by corporate insiders.

Cytokinetics Company Profile

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.