Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 8.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,911,999 shares of the biopharmaceutical company’s stock after selling 176,568 shares during the period. Pictet Asset Management Holding SA owned 1.62% of Cytokinetics worth $89,940,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CYTK. Jones Financial Companies Lllp grew its holdings in shares of Cytokinetics by 189.8% in the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 374 shares during the period. MetLife Investment Management LLC raised its position in shares of Cytokinetics by 0.4% in the 3rd quarter. MetLife Investment Management LLC now owns 123,308 shares of the biopharmaceutical company’s stock worth $6,511,000 after buying an additional 538 shares during the period. Retirement Systems of Alabama raised its holdings in shares of Cytokinetics by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company’s stock worth $6,750,000 after purchasing an additional 565 shares during the period. Arizona State Retirement System lifted its position in Cytokinetics by 1.9% during the fourth quarter. Arizona State Retirement System now owns 32,366 shares of the biopharmaceutical company’s stock valued at $1,522,000 after buying an additional 600 shares in the last quarter. Finally, Inspire Investing LLC boosted its position in Cytokinetics by 7.8% during the 4th quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock worth $400,000 after purchasing an additional 616 shares during the period.

Analysts Set New Price Targets

A number of research firms have commented on CYTK. Royal Bank of Canada increased their price objective on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. JMP Securities reiterated a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research note on Friday, February 7th. Morgan Stanley set a $67.00 price target on Cytokinetics in a research report on Friday, March 7th. Citigroup started coverage on Cytokinetics in a report on Friday, February 7th. They set a “buy” rating and a $86.00 target price on the stock. Finally, Stifel Nicolaus assumed coverage on shares of Cytokinetics in a report on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price target for the company. Two analysts have rated the stock with a hold rating, fifteen have issued 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 a consensus target price of $82.00.

Insider Activity

In other Cytokinetics news, CEO Robert I. Blum sold 16,970 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $43.44, for a total value of $737,176.80. Following the completion of the transaction, the chief executive officer now directly owns 364,181 shares in the company, valued at approximately $15,820,022.64. This trade represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $49.32, for a total value of $98,640.00. Following the completion of the transaction, the executive vice president now directly owns 116,071 shares in the company, valued at approximately $5,724,621.72. This represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,834 shares of company stock valued at $1,949,275. 3.40% of the stock is owned by company insiders.

Cytokinetics Stock Performance

Shares of CYTK stock opened at $43.19 on Friday. The company has a market capitalization of $5.11 billion, a P/E ratio of -8.03 and a beta of 0.95. 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 52 week low of $40.53 and a 52 week high of $75.71. The company’s 50 day moving average price is $45.75 and its two-hundred day moving average price is $49.55.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.29) by $0.03. The company had revenue of $16.93 million for the quarter, compared to the consensus estimate of $14.26 million. On average, analysts expect that Cytokinetics, Incorporated will post -5.24 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.