Advisory Services Network LLC Acquires New Shares in Cytokinetics, Incorporated (NASDAQ:CYTK)

Advisory Services Network LLC bought a new position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) during the 4th quarter, Holdings Channel.com reports. The firm bought 5,739 shares of the biopharmaceutical company’s stock, valued at approximately $270,000.

Other institutional investors also recently bought and sold shares of the company. Bank of Montreal Can boosted its holdings in Cytokinetics by 9.3% during the fourth quarter. Bank of Montreal Can now owns 15,136 shares of the biopharmaceutical company’s stock valued at $712,000 after acquiring an additional 1,285 shares during the period. Federated Hermes Inc. boosted its stake in Cytokinetics by 10.6% during the 4th quarter. Federated Hermes Inc. now owns 37,101 shares of the biopharmaceutical company’s stock valued at $1,745,000 after purchasing an additional 3,546 shares during the period. Finepoint Capital LP grew its holdings in Cytokinetics by 24.2% in the 4th quarter. Finepoint Capital LP now owns 318,448 shares of the biopharmaceutical company’s stock valued at $14,980,000 after buying an additional 61,999 shares during the last quarter. Springhill Fund Asset Management HK Co Ltd bought a new position in Cytokinetics in the 4th quarter worth approximately $6,150,000. Finally, Groupama Asset Managment bought a new position in Cytokinetics in the 4th quarter worth approximately $16,464,000.

Cytokinetics Stock Performance

NASDAQ:CYTK opened at $39.48 on Friday. The stock’s 50-day moving average is $42.63 and its 200-day moving average is $47.75. Cytokinetics, Incorporated has a 1-year low of $32.74 and a 1-year high of $68.76. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The stock has a market cap of $4.71 billion, a P/E ratio of -7.34 and a beta of 0.94.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.03. The company had revenue of $16.93 million for the quarter, compared to the consensus estimate of $14.26 million. Equities research analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Insider Activity

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $45.92, for a total transaction of $91,840.00. Following the transaction, the executive vice president now owns 116,071 shares of the company’s stock, valued at $5,329,980.32. This trade represents a 1.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert I. Blum sold 16,970 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $43.44, for a total value of $737,176.80. Following the completion of the transaction, the chief executive officer now directly owns 364,181 shares in the company, valued at approximately $15,820,022.64. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,360 shares of company stock worth $2,890,065 over the last quarter. 3.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a report on Tuesday, April 8th. Stifel Nicolaus started coverage on Cytokinetics in a research note on Wednesday, January 22nd. They set a “buy” rating and a $80.00 price target on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a report on Thursday, April 10th. Morgan Stanley set a $67.00 price objective on Cytokinetics in a report on Friday, March 7th. Finally, Citigroup assumed coverage on Cytokinetics in a research report on Friday, February 7th. They issued a “buy” rating and a $86.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.63.

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.