Sequoia Financial Advisors LLC Takes Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Sequoia Financial Advisors LLC acquired a new stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,147 shares of the biopharmaceutical company’s stock, valued at approximately $263,000.

Several other institutional investors have also recently made changes to their positions in CYTK. Advisor Group Holdings Inc. raised its holdings in shares of Cytokinetics by 14.9% during the first quarter. Advisor Group Holdings Inc. now owns 5,930 shares of the biopharmaceutical company’s stock valued at $154,000 after purchasing an additional 767 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Cytokinetics by 21.0% in the 1st quarter. JPMorgan Chase & Co. now owns 65,026 shares of the biopharmaceutical company’s stock worth $2,394,000 after acquiring an additional 11,299 shares during the last quarter. Raymond James & Associates acquired a new stake in shares of Cytokinetics in the 1st quarter worth about $564,000. PNC Financial Services Group Inc. raised its holdings in shares of Cytokinetics by 6.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,454 shares of the biopharmaceutical company’s stock worth $236,000 after acquiring an additional 372 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Cytokinetics by 1.9% in the 1st quarter. Bank of Montreal Can now owns 24,711 shares of the biopharmaceutical company’s stock worth $940,000 after acquiring an additional 456 shares during the last quarter.

Insider Activity at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 32,605 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total transaction of $2,585,576.50. Following the sale, the executive vice president now directly owns 142,973 shares in the company, valued at approximately $11,337,758.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director John T. Henderson sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $76.48, for a total transaction of $382,400.00. Following the sale, the director now directly owns 42,632 shares in the company, valued at approximately $3,260,495.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Fady Ibraham Malik sold 32,605 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $79.30, for a total transaction of $2,585,576.50. Following the completion of the sale, the executive vice president now owns 142,973 shares in the company, valued at $11,337,758.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,314 shares of company stock worth $8,588,205. 3.80% of the stock is owned by corporate insiders.

Cytokinetics Stock Up 0.8 %

Cytokinetics stock opened at $67.55 on Friday. Cytokinetics, Incorporated has a twelve month low of $25.98 and a twelve month high of $110.25. The firm has a 50 day moving average price of $71.10 and a 200-day moving average price of $58.53. The company has a market capitalization of $7.06 billion, a P/E ratio of -12.39 and a beta of 0.68.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.35). The firm had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $7.62 million. During the same period in the prior year, the company earned ($1.45) earnings per share. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. Equities analysts expect that Cytokinetics, Incorporated will post -4.5 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CYTK shares. Oppenheimer restated an “outperform” rating and issued a $107.00 target price on shares of Cytokinetics in a report on Monday, March 4th. StockNews.com lowered shares of Cytokinetics from a “hold” rating to a “sell” rating in a report on Friday, January 5th. UBS Group lowered shares of Cytokinetics from a “buy” rating to a “neutral” rating and upped their target price for the stock from $61.00 to $92.00 in a report on Wednesday, January 24th. Mizuho reduced their price objective on shares of Cytokinetics from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, March 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $108.00 price objective on shares of Cytokinetics in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cytokinetics currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.33.

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.