Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Purchased by Assetmark Inc.

Assetmark Inc. boosted its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 11,510.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,161 shares of the biopharmaceutical company’s stock after purchasing an additional 1,151 shares during the period. Assetmark Inc.’s holdings in Cytokinetics were worth $47,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its stake in Cytokinetics by 42.2% in the first quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 291 shares in the last quarter. Parallel Advisors LLC raised its holdings in Cytokinetics by 500.5% during the first quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 916 shares in the last quarter. GAMMA Investing LLC increased its holdings in Cytokinetics by 281.0% in the first quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 826 shares in the last quarter. UMB Bank n.a. increased 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 buying an additional 552 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Cytokinetics in the fourth quarter valued at about $87,000.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of the company’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $37.47, for a total value of $74,940.00. Following the transaction, the executive vice president directly owned 140,610 shares in the company, valued at $5,268,656.70. The trade was a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward M. Md Kaye sold 3,636 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $32.10, for a total transaction of $116,715.60. Following the completion of the transaction, the director owned 29,658 shares in the company, valued at approximately $952,021.80. This represents a 10.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,749 shares of company stock worth $1,277,937 over the last ninety days. 3.40% of the stock is owned by corporate insiders.

Cytokinetics Stock Down 0.3%

Shares of Cytokinetics stock opened at $36.58 on Tuesday. The stock has a market capitalization of $4.37 billion, a P/E ratio of -6.91 and a beta of 0.64. The company has a 50-day simple moving average of $34.53 and a 200 day simple moving average of $38.96. Cytokinetics, Incorporated has a 12-month low of $29.31 and a 12-month high of $59.39.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.41) by $0.05. The business had revenue of $1.60 million during the quarter, compared to the consensus estimate of $2.77 million. The firm’s revenue for the quarter was up 89.1% compared to the same quarter last year. During the same period last year, the business posted ($1.33) EPS. On average, equities analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Analyst Ratings Changes

CYTK has been the topic of a number of research analyst reports. Raymond James Financial initiated coverage on shares of Cytokinetics in a report on Wednesday, July 30th. They issued a “market perform” rating on the stock. HC Wainwright restated a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research note on Monday, April 21st. JMP Securities reissued a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research report on Thursday, April 10th. UBS Group dropped their target price on shares of Cytokinetics from $47.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Finally, Royal Bank Of Canada decreased their price target on shares of Cytokinetics from $82.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.92.

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.