Vanguard Group Inc. Has $765.54 Million Stock Holdings in Cytokinetics, Incorporated $CYTK

Vanguard Group Inc. raised its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 1.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 12,048,131 shares of the biopharmaceutical company’s stock after purchasing an additional 191,336 shares during the period. Vanguard Group Inc. owned 0.10% of Cytokinetics worth $765,538,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. lifted its position in shares of Cytokinetics by 10.6% in the 3rd quarter. UMB Bank n.a. now owns 1,762 shares of the biopharmaceutical company’s stock worth $97,000 after purchasing an additional 169 shares during the period. CIBC Private Wealth Group LLC lifted its position in shares of Cytokinetics by 8.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,484 shares of the biopharmaceutical company’s stock worth $191,000 after purchasing an additional 261 shares during the period. Fifth Third Bancorp lifted its position in shares of 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 purchasing an additional 262 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of 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 lifted its position in shares of 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 purchasing an additional 453 shares during the period.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 7,500 shares of the business’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $59.62, for a total transaction of $447,150.00. Following the completion of the sale, the chief executive officer owned 407,830 shares in the company, valued at approximately $24,314,824.60. The trade was a 1.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Fady Ibraham Malik sold 3,500 shares of the company’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $65.69, for a total transaction of $229,915.00. Following the completion of the sale, the executive vice president owned 153,902 shares of the company’s stock, valued at approximately $10,109,822.38. The trade was a 2.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 166,505 shares of company stock worth $10,392,840. 2.70% of the stock is owned by corporate insiders.

Cytokinetics Trading Down 1.0%

Shares of CYTK stock opened at $63.35 on Friday. The firm has a market capitalization of $7.87 billion, a PE ratio of -9.70 and a beta of 0.38. The firm has a fifty day simple moving average of $63.81 and a two-hundred day simple moving average of $63.52. Cytokinetics, Incorporated has a 12 month low of $29.31 and a 12 month high of $70.98.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) EPS for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.02). The business had revenue of $17.76 million for the quarter, compared to analyst estimates of $8.02 million. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.26) EPS. On average, equities analysts predict that Cytokinetics, Incorporated will post -6.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CYTK has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Cytokinetics in a research report on Monday, April 20th. B. Riley Financial boosted their price target on shares of Cytokinetics from $90.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Leerink Partners restated an “outperform” rating on shares of Cytokinetics in a research report on Tuesday, March 10th. Robert W. Baird set a $84.00 price target on shares of Cytokinetics in a research report on Tuesday, March 10th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Cytokinetics from $74.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.55.

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.