Amalgamated Bank Decreases Stock Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Amalgamated Bank lessened its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 2.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,829 shares of the biopharmaceutical company’s stock after selling 1,024 shares during the quarter. Amalgamated Bank’s holdings in Cytokinetics were worth $3,409,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted 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 valued at $316,498,000 after purchasing an additional 472,595 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Cytokinetics in the fourth quarter worth about $46,308,000. Fisher Asset Management LLC acquired a new position in Cytokinetics during the fourth quarter worth about $44,747,000. Rhumbline Advisers boosted its position in Cytokinetics by 1.1% during the third quarter. Rhumbline Advisers now owns 274,869 shares of the biopharmaceutical company’s stock worth $8,098,000 after acquiring an additional 3,005 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its stake in Cytokinetics by 10.0% during the 3rd quarter. Rafferty Asset Management LLC now owns 246,922 shares of the biopharmaceutical company’s stock valued at $7,274,000 after acquiring an additional 22,498 shares in the last quarter.

Insider Transactions at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 32,604 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $67.56, for a total transaction of $2,202,726.24. Following the sale, the executive vice president now owns 138,973 shares of the company’s stock, valued at approximately $9,389,015.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director John T. Henderson sold 10,562 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $64.54, for a total value of $681,671.48. Following the transaction, the director now owns 32,070 shares in the company, valued at approximately $2,069,797.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Fady Ibraham Malik sold 32,604 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $67.56, for a total value of $2,202,726.24. Following the sale, the executive vice president now directly owns 138,973 shares of the company’s stock, valued at $9,389,015.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 96,318 shares of company stock valued at $6,701,940. 3.40% of the stock is currently owned by corporate insiders.

Cytokinetics Stock Performance

Shares of CYTK opened at $64.02 on Friday. The stock has a 50-day simple moving average of $67.65 and a 200-day simple moving average of $61.68. Cytokinetics, Incorporated has a 1 year low of $25.98 and a 1 year high of $110.25. The stock has a market capitalization of $6.70 billion, a PE ratio of -11.75 and a beta of 0.72.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($1.16) by ($0.17). The business had revenue of $0.84 million for the quarter, compared to the consensus estimate of $0.91 million. During the same period in the previous year, the business earned ($1.38) EPS. The firm’s quarterly revenue was down 81.8% compared to the same quarter last year. Analysts predict that Cytokinetics, Incorporated will post -4.5 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CYTK shares. Needham & Company LLC restated a “buy” rating and set a $108.00 target price on shares of Cytokinetics in a report on Thursday. Truist Financial reissued a “buy” rating and set a $86.00 price objective on shares of Cytokinetics in a research note on Monday, April 8th. UBS Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and raised their target price for the stock from $61.00 to $92.00 in a research note on Wednesday, January 24th. JMP Securities lowered their price target on shares of Cytokinetics from $110.00 to $106.00 and set a “market outperform” rating on the stock in a research report on Thursday. Finally, Oppenheimer cut their price objective on shares of Cytokinetics from $107.00 to $106.00 and set an “outperform” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Cytokinetics presently has a consensus rating of “Moderate Buy” and an average price target of $81.60.

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.