TD Asset Management Inc Buys 97,464 Shares of Cytokinetics, Incorporated $CYTK

TD Asset Management Inc lifted its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 21.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 544,292 shares of the biopharmaceutical company’s stock after purchasing an additional 97,464 shares during the period. TD Asset Management Inc owned 0.46% of Cytokinetics worth $17,983,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CYTK. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. increased its holdings in Cytokinetics by 571.2% during the second quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 1,082,563 shares of the biopharmaceutical company’s stock worth $35,768,000 after buying an additional 921,278 shares during the last quarter. Paradigm Biocapital Advisors LP bought a new position in shares of Cytokinetics in the 1st quarter valued at about $34,510,000. Jennison Associates LLC acquired a new position in shares of Cytokinetics during the 1st quarter worth about $27,085,000. Principal Financial Group Inc. raised its holdings in shares of Cytokinetics by 132.3% in the 1st quarter. Principal Financial Group Inc. now owns 629,911 shares of the biopharmaceutical company’s stock valued at $25,316,000 after purchasing an additional 358,778 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Cytokinetics in the 1st quarter valued at about $14,121,000.

Insider Buying and Selling at Cytokinetics

In other news, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $55.05, for a total transaction of $275,250.00. Following the completion of the transaction, the chief executive officer owned 368,108 shares of the company’s stock, valued at approximately $20,264,345.40. This trade represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward M. Md Kaye sold 6,757 shares of the business’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $60.00, for a total transaction of $405,420.00. Following the completion of the sale, the director directly owned 9,778 shares in the company, valued at approximately $586,680. This represents a 40.86% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,208 shares of company stock worth $2,664,981. 2.70% of the stock is currently owned by company insiders.

Cytokinetics Stock Down 0.9%

Shares of CYTK opened at $58.44 on Friday. The stock has a market cap of $6.99 billion, a PE ratio of -11.46 and a beta of 0.67. Cytokinetics, Incorporated has a 12-month low of $29.31 and a 12-month high of $63.86. The business has a 50-day simple moving average of $48.49 and a two-hundred day simple moving average of $39.80.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.12) earnings per share for the quarter, topping the consensus estimate of ($1.34) by $0.22. The firm had revenue of $66.77 million for the quarter, compared to the consensus estimate of $1.95 million. During the same quarter last year, the firm posted ($1.31) earnings per share. The business’s revenue for the quarter was up 26727.3% on a year-over-year basis. On average, equities research analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Wall Street Analyst Weigh In

CYTK has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a research report on Monday, September 29th. JMP Securities reiterated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research note on Tuesday, September 2nd. Wall Street Zen upgraded Cytokinetics from a “strong sell” rating to a “hold” rating in a research report on Sunday, August 10th. Bank of America increased their price target on shares of Cytokinetics from $52.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, October 2nd. Finally, Evercore ISI lifted their target price on Cytokinetics from $60.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.64.

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.