Fisher Asset Management LLC Raises Stock Holdings in Cytokinetics, Incorporated $CYTK

Fisher Asset Management LLC lifted its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 3.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 761,587 shares of the biopharmaceutical company’s stock after acquiring an additional 27,907 shares during the period. Fisher Asset Management LLC owned 0.62% of Cytokinetics worth $41,857,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CYTK. EverSource Wealth Advisors LLC boosted its stake in shares of Cytokinetics by 723.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 673 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Cytokinetics by 2,872.7% during the second quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company’s stock valued at $43,000 after buying an additional 1,264 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Cytokinetics during the third quarter worth approximately $45,000. Fifth Third Bancorp grew its stake in Cytokinetics by 32.3% in the 3rd quarter. Fifth Third Bancorp now owns 1,072 shares of the biopharmaceutical company’s stock worth $59,000 after acquiring an additional 262 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in Cytokinetics by 68.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,115 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 453 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CYTK shares. Truist Financial increased their price target on Cytokinetics from $84.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, February 3rd. Barclays started coverage on Cytokinetics in a research report on Wednesday, January 28th. They set an “overweight” rating and a $87.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on Cytokinetics from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Morgan Stanley set a $90.00 price objective on shares of Cytokinetics in a report on Thursday, January 8th. Finally, Wall Street Zen cut shares of Cytokinetics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Seventeen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.83.

Cytokinetics Price Performance

Cytokinetics stock opened at $60.72 on Wednesday. The company has a market cap of $7.48 billion, a price-to-earnings ratio of -9.30 and a beta of 0.56. Cytokinetics, Incorporated has a 12 month low of $29.31 and a 12 month high of $70.98. The stock’s 50-day moving average is $64.07 and its 200-day moving average is $59.22.

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

Insider Transactions at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 2,200 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $61.24, for a total value of $134,728.00. Following the completion of the sale, the executive vice president directly owned 138,552 shares in the company, valued at approximately $8,484,924.48. This represents a 1.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew Callos sold 15,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $61.93, for a total value of $928,950.00. Following the transaction, the executive vice president owned 50,440 shares in the company, valued at approximately $3,123,749.20. This represents a 22.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 110,221 shares of company stock valued at $7,101,425 over the last 90 days. Corporate insiders own 3.40% of the company’s stock.

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.