Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Bought by J.Safra Asset Management Corp

J.Safra Asset Management Corp boosted its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 62.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,751 shares of the biopharmaceutical company’s stock after acquiring an additional 671 shares during the quarter. J.Safra Asset Management Corp’s holdings in Cytokinetics were worth $83,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CYTK. International Assets Investment Management LLC purchased a new position in shares of Cytokinetics during the third quarter worth $558,000. State of Alaska Department of Revenue boosted its position in shares of Cytokinetics by 7.4% during the third quarter. State of Alaska Department of Revenue now owns 13,390 shares of the biopharmaceutical company’s stock worth $706,000 after buying an additional 925 shares during the period. New York State Teachers Retirement System boosted its position in shares of Cytokinetics by 1.4% during the third quarter. New York State Teachers Retirement System now owns 113,800 shares of the biopharmaceutical company’s stock worth $6,009,000 after buying an additional 1,600 shares during the period. Van ECK Associates Corp boosted its position in shares of Cytokinetics by 21.3% during the third quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company’s stock worth $3,802,000 after buying an additional 12,565 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its position in shares of Cytokinetics by 16.3% during the third quarter. Crossmark Global Holdings Inc. now owns 7,640 shares of the biopharmaceutical company’s stock worth $403,000 after buying an additional 1,072 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CYTK. Stifel Nicolaus began coverage on Cytokinetics in a research report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 price target for the company. Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. Morgan Stanley upgraded Cytokinetics from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $70.00 to $67.00 in a report on Thursday, February 13th. HC Wainwright reiterated a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a report on Friday, February 28th. Finally, Mizuho lifted their target price on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cytokinetics currently has a consensus rating of “Moderate Buy” and an average target price of $82.00.

Insider Transactions at Cytokinetics

In related news, Director Wendall Wierenga sold 742 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $48.61, for a total value of $36,068.62. Following the transaction, the director now owns 24,559 shares in the company, valued at $1,193,812.99. The trade was a 2.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Fady Ibraham Malik sold 2,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $45.98, for a total value of $91,960.00. Following the completion of the transaction, the executive vice president now owns 116,071 shares in the company, valued at $5,336,944.58. This trade represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,822 shares of company stock worth $874,048. Corporate insiders own 3.40% of the company’s stock.

Cytokinetics Stock Up 0.4 %

CYTK opened at $43.88 on Thursday. The business’s 50-day simple moving average is $47.00 and its 200-day simple moving average is $51.03. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. Cytokinetics, Incorporated has a one year low of $40.53 and a one year high of $75.71. The stock has a market capitalization of $5.20 billion, a P/E ratio of -8.16 and a beta of 0.95.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.03. The firm had revenue of $16.93 million for the quarter, compared to analyst estimates of $14.26 million. Analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Cytokinetics Profile

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.