Aberdeen Group plc Sells 444,771 Shares of Cytokinetics, Incorporated $CYTK

Aberdeen Group plc trimmed its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 47.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 483,061 shares of the biopharmaceutical company’s stock after selling 444,771 shares during the quarter. Aberdeen Group plc owned about 0.40% of Cytokinetics worth $30,694,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Deep Track Capital LP increased its position in shares of Cytokinetics by 17.8% during the third quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company’s stock valued at $236,328,000 after acquiring an additional 650,000 shares in the last quarter. Vestal Point Capital LP raised its stake in shares of Cytokinetics by 14.8% in the second quarter. Vestal Point Capital LP now owns 2,975,000 shares of the biopharmaceutical company’s stock worth $98,294,000 after purchasing an additional 384,469 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Cytokinetics by 676.1% during the third quarter. Woodline Partners LP now owns 1,647,725 shares of the biopharmaceutical company’s stock valued at $90,559,000 after purchasing an additional 1,435,422 shares in the last quarter. Northern Trust Corp boosted its position in shares of Cytokinetics by 2.0% during the third quarter. Northern Trust Corp now owns 1,406,832 shares of the biopharmaceutical company’s stock valued at $77,319,000 after buying an additional 27,641 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Cytokinetics during the second quarter valued at $39,122,000.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, EVP Sung Lee sold 4,935 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $62.15, for a total transaction of $306,710.25. Following the completion of the sale, the executive vice president directly owned 87,127 shares of the company’s stock, valued at approximately $5,414,943.05. This represents a 5.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert I. Blum sold 36,601 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $62.15, for a total transaction of $2,274,752.15. Following the completion of the transaction, the chief executive officer owned 430,330 shares in the company, valued at $26,745,009.50. The trade was a 7.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 136,056 shares of company stock valued at $8,395,947. 2.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. B. Riley Financial boosted their target price on Cytokinetics from $90.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Leerink Partners reaffirmed an “outperform” rating on shares of Cytokinetics in a report on Tuesday, March 10th. Robert W. Baird set a $84.00 price target on shares of Cytokinetics in a research note on Tuesday, March 10th. UBS Group boosted their price objective on shares of Cytokinetics from $61.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, March 6th. Finally, Citizens Jmp raised their target price on shares of Cytokinetics from $88.00 to $96.00 and gave the stock a “market outperform” rating in a report on Wednesday, February 25th. Seventeen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cytokinetics presently has an average rating of “Moderate Buy” and a consensus target price of $89.89.

Cytokinetics Stock Performance

Shares of NASDAQ:CYTK opened at $66.73 on Friday. The stock’s 50-day simple moving average is $63.81 and its two-hundred day simple moving average is $62.10. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of -10.22 and a beta of 0.47. Cytokinetics, Incorporated has a 52-week low of $29.31 and a 52-week high of $70.98.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) EPS for the quarter, missing the consensus estimate of ($1.48) by ($0.02). The firm had revenue of $17.76 million for the quarter, compared to analysts’ expectations of $8.02 million. During the same period in the prior year, the firm earned ($1.26) earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. As a group, equities analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Cytokinetics Company Profile

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.