J.Safra Asset Management Corp Purchases 511 Shares of Cytokinetics, Incorporated $CYTK

J.Safra Asset Management Corp increased its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 17.8% in the 2nd quarter, Holdings Channel reports. The firm owned 3,381 shares of the biopharmaceutical company’s stock after buying an additional 511 shares during the quarter. J.Safra Asset Management Corp’s holdings in Cytokinetics were worth $112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp raised its stake in Cytokinetics by 42.2% during the first quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 291 shares in the last quarter. GAMMA Investing LLC raised its stake in Cytokinetics by 281.0% during the first quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 826 shares in the last quarter. Assetmark Inc. increased its stake in shares of Cytokinetics by 11,510.0% in the first quarter. Assetmark Inc. now owns 1,161 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 1,151 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Cytokinetics by 37.8% in the second quarter. UMB Bank n.a. now owns 1,593 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 437 shares in the last quarter. Finally, Covestor Ltd increased its stake in shares of Cytokinetics by 1,053.0% in the first quarter. Covestor Ltd now owns 1,914 shares of the biopharmaceutical company’s stock valued at $77,000 after buying an additional 1,748 shares in the last quarter.

Insider Activity

In other news, Director Edward M. Md Kaye sold 6,757 shares of Cytokinetics stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $60.00, for a total transaction of $405,420.00. Following the transaction, the director owned 9,778 shares in the company, valued at $586,680. The trade was a 40.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $55.05, for a total value of $275,250.00. Following the transaction, the chief executive officer owned 368,108 shares in the company, valued at $20,264,345.40. This trade represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,208 shares of company stock worth $2,364,831 in the last 90 days. Corporate insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytokinetics in a research report on Wednesday, October 8th. B. Riley raised their target price on Cytokinetics from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Wall Street Zen upgraded Cytokinetics from a “strong sell” rating to a “hold” rating in a report on Sunday, August 10th. Stifel Nicolaus raised their target price on Cytokinetics from $87.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, September 2nd. Finally, Raymond James Financial assumed coverage on Cytokinetics in a report on Wednesday, July 30th. They set a “market perform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Cytokinetics presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.64.

Cytokinetics Price Performance

NASDAQ:CYTK opened at $61.03 on Wednesday. Cytokinetics, Incorporated has a fifty-two week low of $29.31 and a fifty-two week high of $61.58. The stock has a market capitalization of $7.30 billion, a PE ratio of -11.97 and a beta of 0.67. The business’s 50-day simple moving average is $46.98 and its 200-day simple moving average is $39.36.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.12) earnings per share for the quarter, beating the consensus estimate of ($1.34) by $0.22. The business had revenue of $66.77 million for the quarter, compared to the consensus estimate of $1.95 million. During the same quarter last year, the firm earned ($1.31) EPS. The company’s revenue for the quarter was up 26727.3% on a year-over-year basis. On average, research analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Cytokinetics Company 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.