Federated Hermes Inc. Has $1.37 Million Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Federated Hermes Inc. decreased its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 8.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,045 shares of the biopharmaceutical company’s stock after selling 3,056 shares during the quarter. Federated Hermes Inc.’s holdings in Cytokinetics were worth $1,368,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Fifth Third Bancorp boosted its stake in shares of 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 buying an additional 291 shares during the period. Parallel Advisors LLC raised its holdings in Cytokinetics by 500.5% in the 1st quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company’s stock valued at $44,000 after acquiring an additional 916 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Cytokinetics by 281.0% during the 1st quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 826 shares during the period. UMB Bank n.a. grew its holdings in shares of Cytokinetics by 91.4% during the 1st quarter. UMB Bank n.a. now owns 1,156 shares of the biopharmaceutical company’s stock worth $46,000 after purchasing an additional 552 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in shares of Cytokinetics by 11,510.0% during the 1st quarter. Assetmark Inc. now owns 1,161 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 1,151 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research note on Thursday, April 10th. Needham & Company LLC reissued a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a report on Wednesday, May 14th. Royal Bank Of Canada cut 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. Cantor Fitzgerald upgraded shares of Cytokinetics to a “strong-buy” rating in a research report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Cytokinetics from $71.00 to $53.00 and set an “overweight” rating for the company in a research report on Monday, June 9th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cytokinetics currently has an average rating of “Moderate Buy” and an average target price of $70.92.

Insiders Place Their Bets

In other news, EVP Fady Ibraham Malik sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $36.34, for a total transaction of $72,680.00. Following the completion of the transaction, the executive vice president owned 140,610 shares of the company’s stock, valued at approximately $5,109,767.40. This trade represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward M. Md Kaye sold 3,636 shares of Cytokinetics stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $32.10, for a total transaction of $116,715.60. Following the transaction, the director owned 29,658 shares in the company, valued at approximately $952,021.80. This trade represents a 10.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,749 shares of company stock worth $1,350,617 over the last quarter. 2.70% of the stock is currently owned by corporate insiders.

Cytokinetics Stock Down 2.8%

NASDAQ CYTK opened at $35.14 on Thursday. The company has a market cap of $4.20 billion, a price-to-earnings ratio of -6.64 and a beta of 0.64. Cytokinetics, Incorporated has a twelve month low of $29.31 and a twelve month high of $59.39. The business’s fifty day moving average is $34.74 and its 200 day moving average is $38.91.

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

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.