BNP Paribas Financial Markets Has $12.03 Million Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

BNP Paribas Financial Markets trimmed its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTKFree Report) by 13.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 171,551 shares of the biopharmaceutical company’s stock after selling 27,335 shares during the period. BNP Paribas Financial Markets owned approximately 0.16% of Cytokinetics worth $12,027,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Maryland State Retirement & Pension System increased its position in Cytokinetics by 0.8% in the 4th quarter. Maryland State Retirement & Pension System now owns 35,637 shares of the biopharmaceutical company’s stock worth $2,975,000 after purchasing an additional 278 shares during the last quarter. Quadrant Capital Group LLC increased its position in Cytokinetics by 9.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,268 shares of the biopharmaceutical company’s stock worth $273,000 after purchasing an additional 287 shares during the last quarter. Fifth Third Bancorp increased its position in Cytokinetics by 94.1% in the 1st quarter. Fifth Third Bancorp now owns 656 shares of the biopharmaceutical company’s stock worth $46,000 after purchasing an additional 318 shares during the last quarter. Mutual of America Capital Management LLC increased its position in Cytokinetics by 2.0% in the 4th quarter. Mutual of America Capital Management LLC now owns 17,162 shares of the biopharmaceutical company’s stock worth $1,433,000 after purchasing an additional 337 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in Cytokinetics by 0.9% in the 4th quarter. State of Alaska Department of Revenue now owns 60,322 shares of the biopharmaceutical company’s stock worth $5,036,000 after purchasing an additional 517 shares during the last quarter.

Insiders Place Their Bets

In other news, Director Robert Arthur Harrington sold 1,580 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $48.64, for a total value of $76,851.20. Following the completion of the transaction, the director now directly owns 15,541 shares of the company’s stock, valued at approximately $755,914.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Fady Ibraham Malik sold 7,300 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $55.90, for a total transaction of $408,070.00. Following the completion of the sale, the executive vice president now directly owns 131,004 shares of the company’s stock, valued at approximately $7,323,123.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Arthur Harrington sold 1,580 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $48.64, for a total value of $76,851.20. Following the sale, the director now directly owns 15,541 shares of the company’s stock, valued at $755,914.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 131,841 shares of company stock worth $7,176,073. 3.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CYTK. Barclays dropped their target price on Cytokinetics from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. JPMorgan Chase & Co. decreased their price target on Cytokinetics from $77.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. JMP Securities decreased their price target on Cytokinetics from $106.00 to $78.00 and set a “market outperform” rating for the company in a research note on Tuesday, May 28th. Truist Financial decreased their price target on Cytokinetics from $86.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th. Finally, B. Riley decreased their price target on Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $77.06.

Read Our Latest Stock Analysis on CYTK

Cytokinetics Trading Down 3.2 %

Shares of CYTK stock opened at $54.86 on Wednesday. The stock has a 50 day moving average of $55.42 and a two-hundred day moving average of $68.05. Cytokinetics, Incorporated has a 12 month low of $25.98 and a 12 month high of $110.25. The company has a market capitalization of $5.75 billion, a P/E ratio of -10.16 and a beta of 0.75.

Cytokinetics (NASDAQ:CYTKGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) EPS 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 the consensus estimate of $0.91 million. During the same period in the prior year, the company earned ($1.38) EPS. The company’s revenue for the quarter was down 81.8% on a year-over-year basis. Sell-side analysts predict that Cytokinetics, Incorporated will post -4.5 earnings per share for the current fiscal year.

Cytokinetics 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.

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Institutional Ownership by Quarter for Cytokinetics (NASDAQ:CYTK)

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