Yousif Capital Management LLC cut its stake in Cytokinetics, Incorporated (NASDAQ:CYTK – Free Report) by 2.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,660 shares of the biopharmaceutical company’s stock after selling 1,126 shares during the period. Yousif Capital Management LLC’s holdings in Cytokinetics were worth $1,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in the stock. Jones Financial Companies Lllp raised its holdings in shares of Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 374 shares during the period. Centricity Wealth Management LLC purchased a new position in shares of Cytokinetics during the 4th quarter worth $29,000. Parallel Advisors LLC raised its holdings in shares of Cytokinetics by 500.5% during the 1st quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company’s stock worth $44,000 after acquiring an additional 916 shares during the period. UMB Bank n.a. lifted its holdings in Cytokinetics by 91.4% in the first quarter. UMB Bank n.a. now owns 1,156 shares of the biopharmaceutical company’s stock valued at $46,000 after acquiring an additional 552 shares during the last quarter. Finally, AlphaQuest LLC lifted its holdings in Cytokinetics by 113,500.0% in the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 1,135 shares during the last quarter.
Cytokinetics Stock Performance
NASDAQ:CYTK opened at $33.78 on Tuesday. The firm has a market capitalization of $4.03 billion, a PE ratio of -6.28 and a beta of 0.59. The business’s fifty day moving average price is $34.81 and its 200 day moving average price is $42.13. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. Cytokinetics, Incorporated has a 12 month low of $29.31 and a 12 month high of $61.38.
Insiders Place Their Bets
In related news, EVP Andrew Callos sold 2,886 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $35.78, for a total transaction of $103,261.08. Following the transaction, the executive vice president now owns 64,689 shares of the company’s stock, valued at $2,314,572.42. This trade represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert I. Blum sold 15,000 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $40.75, for a total value of $611,250.00. Following the transaction, the chief executive officer now directly owns 427,629 shares in the company, valued at approximately $17,425,881.75. This represents a 3.39% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,277 shares of company stock valued at $2,998,921. 2.70% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
CYTK has been the topic of a number of recent analyst reports. Mizuho decreased their price objective on Cytokinetics from $103.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, May 29th. Citigroup decreased their price target on Cytokinetics from $86.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. JPMorgan Chase & Co. decreased their price target on Cytokinetics from $71.00 to $53.00 and set an “overweight” rating on the stock in a research note on Monday, June 9th. Needham & Company LLC restated a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research note on Wednesday, May 14th. Finally, HC Wainwright restated a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a research note on Monday, April 21st. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.92.
Check Out Our Latest Analysis on Cytokinetics
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.
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