Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Purchased by TD Asset Management Inc

TD Asset Management Inc grew its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTKFree Report) by 82.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 182,040 shares of the biopharmaceutical company’s stock after purchasing an additional 82,400 shares during the quarter. TD Asset Management Inc owned 0.19% of Cytokinetics worth $15,199,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC acquired a new position in shares of Cytokinetics during the fourth quarter worth about $80,000. Sage Rhino Capital LLC purchased a new stake in shares of Cytokinetics during the fourth quarter worth about $204,000. Caprock Group LLC purchased a new stake in shares of Cytokinetics during the fourth quarter worth about $216,000. PNC Financial Services Group Inc. increased its position in shares of Cytokinetics by 4.8% during the third quarter. PNC Financial Services Group Inc. now owns 7,373 shares of the biopharmaceutical company’s stock worth $217,000 after acquiring an additional 340 shares during the last quarter. Finally, Journey Strategic Wealth LLC purchased a new stake in shares of Cytokinetics during the fourth quarter worth about $243,000.

Cytokinetics Stock Performance

CYTK opened at $48.51 on Monday. Cytokinetics, Incorporated has a 1-year low of $25.98 and a 1-year high of $110.25. The business has a 50 day moving average price of $64.00 and a two-hundred day moving average price of $64.48.

Cytokinetics (NASDAQ:CYTKGet Free Report) last released its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.17). The business had revenue of $0.84 million during the quarter, compared to analysts’ expectations of $0.91 million. Cytokinetics’s revenue for the quarter was down 81.8% compared to the same quarter last year. During the same period last year, the business earned ($1.38) EPS. Sell-side analysts anticipate that Cytokinetics, Incorporated will post -4.53 EPS for the current year.

Insiders Place Their Bets

In other Cytokinetics news, EVP Fady Ibraham Malik sold 15,547 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $65.11, for a total value of $1,012,265.17. Following the completion of the sale, the executive vice president now directly owns 137,056 shares in the company, valued at $8,923,716.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cytokinetics news, Director John T. Henderson sold 10,562 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $2,069,797.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Fady Ibraham Malik sold 15,547 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $65.11, for a total value of $1,012,265.17. Following the completion of the transaction, the executive vice president now directly owns 137,056 shares in the company, valued at approximately $8,923,716.16. The disclosure for this sale can be found here. Insiders sold 91,318 shares of company stock worth $6,319,540 over the last ninety days. Company insiders own 3.40% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on CYTK shares. Needham & Company LLC lowered their price objective on Cytokinetics from $108.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Raymond James lowered their price objective on Cytokinetics from $92.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, May 23rd. Truist Financial lowered their price objective on Cytokinetics from $86.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. JMP Securities lowered their price objective on Cytokinetics from $106.00 to $78.00 and set a “market outperform” rating for the company in a report on Tuesday, May 28th. Finally, Mizuho lowered their price objective on Cytokinetics from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.88.

View Our Latest Stock Report on Cytokinetics

Cytokinetics Company Profile

(Free Report)

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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