Janus Henderson Group PLC Sells 1,771,033 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Janus Henderson Group PLC trimmed its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 69.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 797,372 shares of the biopharmaceutical company’s stock after selling 1,771,033 shares during the period. Janus Henderson Group PLC owned 0.76% of Cytokinetics worth $55,901,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Caprock Group LLC bought a new stake in Cytokinetics in the fourth quarter valued at approximately $216,000. State of Alaska Department of Revenue boosted its holdings in shares of Cytokinetics by 0.9% in the fourth quarter. State of Alaska Department of Revenue now owns 60,322 shares of the biopharmaceutical company’s stock valued at $5,036,000 after buying an additional 517 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Cytokinetics by 360.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,341 shares of the biopharmaceutical company’s stock valued at $947,000 after buying an additional 8,878 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Cytokinetics by 36.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 75,000 shares of the biopharmaceutical company’s stock valued at $6,131,000 after buying an additional 20,000 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Cytokinetics by 4.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,747 shares of the biopharmaceutical company’s stock valued at $4,487,000 after buying an additional 2,063 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CYTK. Barclays reduced their price target on shares of Cytokinetics from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. Needham & Company LLC reduced their target price on shares of Cytokinetics from $108.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. B. Riley reduced their target price on shares of Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, June 4th. JPMorgan Chase & Co. reduced their target price on shares of Cytokinetics from $77.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Finally, JMP Securities reduced their target price on shares of Cytokinetics from $106.00 to $78.00 and set a “market outperform” rating for the company in a report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $77.06.

Insider Activity at Cytokinetics

In related news, Director B Lynne Parshall sold 5,000 shares of Cytokinetics stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $52.55, for a total transaction of $262,750.00. Following the sale, the director now directly owns 20,600 shares of the company’s stock, valued at approximately $1,082,530. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cytokinetics news, EVP Fady Ibraham Malik sold 15,547 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $65.11, for a total transaction of $1,012,265.17. Following the sale, the executive vice president now directly owns 137,056 shares of the company’s stock, valued at approximately $8,923,716.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director B Lynne Parshall sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $52.55, for a total transaction of $262,750.00. Following the sale, the director now directly owns 20,600 shares in the company, valued at $1,082,530. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,079 shares of company stock valued at $7,814,083. 3.40% of the stock is owned by insiders.

Cytokinetics Trading Up 1.8 %

CYTK stock traded up $1.07 during mid-day trading on Tuesday, hitting $60.16. The stock had a trading volume of 923,077 shares, compared to its average volume of 2,510,710. Cytokinetics, Incorporated has a 52 week low of $25.98 and a 52 week high of $110.25. The firm has a market capitalization of $6.31 billion, a P/E ratio of -10.94 and a beta of 0.75. The firm has a fifty day simple moving average of $53.96 and a 200 day simple moving average of $65.41.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($1.16) by ($0.17). The business had revenue of $0.84 million for the quarter, compared to analysts’ expectations of $0.91 million. During the same quarter in the prior year, the company posted ($1.38) earnings per share. The firm’s revenue for the quarter was down 81.8% on a year-over-year basis. As a group, equities analysts expect that Cytokinetics, Incorporated will post -4.5 earnings per share for the current fiscal 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.