Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,565 shares of the biopharmaceutical company’s stock after selling 1,057 shares during the quarter. Amalgamated Bank’s holdings in Cytokinetics were worth $2,113,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. State of Alaska Department of Revenue raised its position in Cytokinetics by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 13,820 shares of the biopharmaceutical company’s stock worth $555,000 after acquiring an additional 365 shares in the last quarter. Fifth Third Bancorp raised its position in Cytokinetics by 42.2% in the first quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 291 shares in the last quarter. GAMMA Investing LLC raised its position in Cytokinetics by 281.0% in the first quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 826 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in Cytokinetics by 17.7% in the first quarter. Harbor Capital Advisors Inc. now owns 53,113 shares of the biopharmaceutical company’s stock worth $2,135,000 after acquiring an additional 7,983 shares in the last quarter. Finally, UMB Bank n.a. raised its position in Cytokinetics by 91.4% in the first quarter. UMB Bank n.a. now owns 1,156 shares of the biopharmaceutical company’s stock worth $46,000 after acquiring an additional 552 shares in the last quarter.

Cytokinetics Trading Down 1.3%

Cytokinetics stock opened at $33.90 on Monday. The stock has a market cap of $4.05 billion, a PE ratio of -6.41 and a beta of 0.59. The stock has a 50-day moving average price of $33.28 and a 200 day moving average price of $40.53. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $61.38.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, topping analysts’ consensus estimates of ($1.41) by $0.05. The company had revenue of $1.60 million for the quarter, compared to analysts’ expectations of $2.77 million. The company’s revenue for the quarter was up 89.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.33) EPS. On average, equities analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Insider Transactions at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $38.11, for a total value of $76,220.00. Following the sale, the executive vice president directly owned 140,255 shares of the company’s stock, valued at approximately $5,345,118.05. This trade represents a 1.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Muna Bhanji sold 1,454 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $29.73, for a total value of $43,227.42. Following the completion of the sale, the director directly owned 23,510 shares in the company, valued at approximately $698,952.30. The trade was a 5.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,941 shares of company stock worth $2,266,666 in the last quarter. 3.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on CYTK. HC Wainwright reiterated a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a research report on Monday, April 21st. JMP Securities restated a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research report on Thursday, April 10th. UBS Group dropped their price target on Cytokinetics from $47.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Citigroup dropped their price target on Cytokinetics from $86.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. dropped their price target on Cytokinetics from $71.00 to $53.00 and set an “overweight” rating for the company in a research report on Monday, June 9th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $70.92.

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.