Universal Beteiligungs und Servicegesellschaft mbH Sells 444,464 Shares of Cytokinetics, Incorporated $CYTK

Universal Beteiligungs und Servicegesellschaft mbH trimmed its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 93.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,707 shares of the biopharmaceutical company’s stock after selling 444,464 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Cytokinetics were worth $1,688,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Teacher Retirement System of Texas boosted its holdings in shares of Cytokinetics by 1.1% in the second quarter. Teacher Retirement System of Texas now owns 30,514 shares of the biopharmaceutical company’s stock valued at $1,008,000 after buying an additional 341 shares during the period. KLP Kapitalforvaltning AS raised its holdings in shares of Cytokinetics by 1.7% during the second quarter. KLP Kapitalforvaltning AS now owns 24,000 shares of the biopharmaceutical company’s stock worth $793,000 after acquiring an additional 400 shares during the period. New York State Teachers Retirement System lifted its position in Cytokinetics by 0.4% in the 2nd quarter. New York State Teachers Retirement System now owns 114,500 shares of the biopharmaceutical company’s stock valued at $3,783,000 after acquiring an additional 400 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Cytokinetics by 1.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 28,119 shares of the biopharmaceutical company’s stock worth $929,000 after purchasing an additional 449 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in Cytokinetics by 68.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,115 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 453 shares in the last quarter.

Cytokinetics Trading Down 3.7%

NASDAQ CYTK opened at $63.19 on Friday. The firm’s fifty day moving average price is $63.82 and its two-hundred day moving average price is $54.62. Cytokinetics, Incorporated has a 1 year low of $29.31 and a 1 year high of $70.98. The firm has a market capitalization of $7.73 billion, a P/E ratio of -10.05 and a beta of 0.55.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) EPS for the quarter, beating analysts’ consensus estimates of ($1.59) by $0.05. The firm had revenue of $1.94 million during the quarter, compared to the consensus estimate of $6.05 million. The business’s revenue was up 318.1% on a year-over-year basis. During the same period last year, the business earned ($1.36) EPS. On average, research analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert Arthur Harrington sold 2,150 shares of Cytokinetics stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $66.80, for a total transaction of $143,620.00. Following the completion of the transaction, the director owned 18,542 shares in the company, valued at approximately $1,238,605.60. This trade represents a 10.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Andrew Callos sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $60.28, for a total value of $904,200.00. Following the completion of the sale, the executive vice president owned 50,440 shares in the company, valued at $3,040,523.20. This represents a 22.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 150,169 shares of company stock worth $9,776,484 in the last three months. Insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wall Street Zen lowered Cytokinetics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Barclays assumed coverage on Cytokinetics in a research report on Wednesday. They issued an “overweight” rating and a $87.00 target price on the stock. UBS Group reaffirmed a “neutral” rating and set a $61.00 price target on shares of Cytokinetics in a research report on Monday, December 1st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research note on Tuesday, October 21st. Finally, Citizens Jmp lifted their price objective on shares of Cytokinetics from $78.00 to $88.00 and gave the company a “market outperform” rating in a report on Monday, December 22nd. Sixteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cytokinetics has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

Cytokinetics 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.