TD Asset Management Inc Has $34.57 Million Position in Cytokinetics, Incorporated $CYTK

TD Asset Management Inc reduced its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 19.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 544,010 shares of the biopharmaceutical company’s stock after selling 127,770 shares during the quarter. TD Asset Management Inc’s holdings in Cytokinetics were worth $34,566,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Cytokinetics by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 12,048,131 shares of the biopharmaceutical company’s stock worth $765,538,000 after purchasing an additional 191,336 shares during the last quarter. Hudson Bay Capital Management LP lifted its holdings in Cytokinetics by 15.4% in the 3rd quarter. Hudson Bay Capital Management LP now owns 182,131 shares of the biopharmaceutical company’s stock worth $10,010,000 after purchasing an additional 24,345 shares during the last quarter. Knott David M Jr bought a new position in Cytokinetics in the 3rd quarter worth approximately $1,649,000. Boxer Capital Management LLC bought a new position in Cytokinetics in the 3rd quarter worth approximately $10,992,000. Finally, Cinctive Capital Management LP bought a new position in Cytokinetics in the 3rd quarter worth approximately $5,806,000.

Cytokinetics Trading Down 1.1%

CYTK opened at $71.48 on Friday. The stock has a market cap of $8.89 billion, a PE ratio of -10.45 and a beta of 0.42. Cytokinetics, Incorporated has a 1 year low of $31.99 and a 1 year high of $80.20. The stock’s 50 day simple moving average is $69.97 and its 200-day simple moving average is $65.95.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($1.67). The firm had revenue of $19.36 million for the quarter, compared to the consensus estimate of $8.52 million. The business’s revenue for the quarter was up 1112.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.36) earnings per share. Equities analysts forecast that Cytokinetics, Incorporated will post -6.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on CYTK. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cytokinetics in a research report on Monday, April 20th. HC Wainwright lifted their price target on Cytokinetics from $136.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Leerink Partners reaffirmed an “outperform” rating on shares of Cytokinetics in a research report on Tuesday, March 10th. Morgan Stanley lifted their price target on Cytokinetics from $90.00 to $103.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company lifted their price target on Cytokinetics from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Cytokinetics has an average rating of “Moderate Buy” and a consensus target price of $99.30.

Insider Buying and Selling at Cytokinetics

In other news, EVP Andrew Callos sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $74.08, for a total transaction of $1,111,200.00. Following the sale, the executive vice president directly owned 58,555 shares in the company, valued at approximately $4,337,754.40. The trade was a 20.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $77.37, for a total value of $270,795.00. Following the sale, the executive vice president owned 153,902 shares in the company, valued at approximately $11,907,397.74. This represents a 2.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 181,909 shares of company stock valued at $11,969,996 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

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.