MetLife Investment Management LLC Boosts Stock Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

MetLife Investment Management LLC grew its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 8.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,702 shares of the biopharmaceutical company’s stock after purchasing an additional 10,394 shares during the period. MetLife Investment Management LLC’s holdings in Cytokinetics were worth $6,289,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its stake in Cytokinetics by 189.8% in the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 374 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in Cytokinetics during the fourth quarter worth $29,000. AlphaQuest LLC boosted its position in Cytokinetics by 113,500.0% in the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 1,135 shares during the last quarter. J.Safra Asset Management Corp grew its stake in Cytokinetics by 62.1% in the 4th quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 671 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Cytokinetics by 85.8% during the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company’s stock valued at $86,000 after purchasing an additional 842 shares during the last quarter.

Insiders Place Their Bets

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $5,336,944.58. The trade was a 1.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andrew Callos sold 2,886 shares of the firm’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $35.78, for a total transaction of $103,261.08. Following the sale, the executive vice president now owns 64,689 shares in the company, valued at approximately $2,314,572.42. This trade represents a 4.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,360 shares of company stock worth $3,643,645 in the last ninety days. 3.40% of the stock is currently owned by insiders.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK opened at $37.81 on Wednesday. The company has a 50 day moving average of $42.47 and a 200 day moving average of $47.46. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The stock has a market cap of $4.51 billion, a P/E ratio of -7.03 and a beta of 0.94. Cytokinetics, Incorporated has a 12 month low of $32.74 and a 12 month high of $68.76.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.03. The firm had revenue of $16.93 million for the quarter, compared to analysts’ expectations of $14.26 million. As a group, sell-side analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CYTK. JMP Securities reissued a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a report on Thursday, April 10th. Evercore ISI raised shares of Cytokinetics to a “strong-buy” rating in a research report on Friday, February 7th. Stifel Nicolaus began coverage on shares of Cytokinetics in a report on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price target on the stock. Citigroup started coverage on Cytokinetics in a report on Friday, February 7th. They set a “buy” rating and a $86.00 price objective for the company. Finally, Bank of America lowered their target price on Cytokinetics from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.63.

About Cytokinetics

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.