EFG Asset Management North America Corp. Sells 4,102 Shares of Cytokinetics, Incorporated $CYTK

EFG Asset Management North America Corp. lowered its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 5.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 76,257 shares of the biopharmaceutical company’s stock after selling 4,102 shares during the quarter. EFG Asset Management North America Corp. owned approximately 0.06% of Cytokinetics worth $2,519,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. State of Michigan Retirement System boosted its position in Cytokinetics by 1.8% during the second quarter. State of Michigan Retirement System now owns 28,700 shares of the biopharmaceutical company’s stock worth $948,000 after purchasing an additional 500 shares during the period. Zweig DiMenna Associates LLC purchased a new stake in shares of Cytokinetics during the 2nd quarter valued at approximately $1,176,000. Retirement Systems of Alabama boosted its holdings in Cytokinetics by 1.6% in the 2nd quarter. Retirement Systems of Alabama now owns 145,967 shares of the biopharmaceutical company’s stock worth $4,823,000 after buying an additional 2,330 shares during the period. Assetmark Inc. grew its stake in Cytokinetics by 127.6% in the 2nd quarter. Assetmark Inc. now owns 2,642 shares of the biopharmaceutical company’s stock valued at $87,000 after buying an additional 1,481 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its stake in Cytokinetics by 2,872.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company’s stock valued at $43,000 after buying an additional 1,264 shares in the last quarter.

Insider Activity

In other Cytokinetics news, Director Edward M. Md Kaye sold 6,757 shares of the stock in a transaction on Monday, October 6th. The shares were sold at an average price of $60.00, for a total transaction of $405,420.00. Following the completion of the sale, the director owned 9,778 shares of the company’s stock, valued at $586,680. This represents a 40.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $62.86, for a total transaction of $314,300.00. Following the completion of the transaction, the chief executive officer owned 358,108 shares in the company, valued at $22,510,668.88. The trade was a 1.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 56,983 shares of company stock worth $3,165,356. 2.70% of the stock is currently owned by corporate insiders.

Cytokinetics Price Performance

CYTK opened at $59.19 on Thursday. The stock’s 50 day simple moving average is $54.31 and its 200 day simple moving average is $41.79. Cytokinetics, Incorporated has a 1 year low of $29.31 and a 1 year high of $64.13. The firm has a market cap of $7.08 billion, a price-to-earnings ratio of -11.61 and a beta of 0.67.

Cytokinetics (NASDAQ:CYTK) last announced 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 company had revenue of $66.77 million during the quarter, compared to the consensus estimate of $1.95 million. During the same quarter in the previous year, the firm posted ($1.31) EPS. The business’s revenue for the quarter was up 26727.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Analyst Ratings Changes

CYTK has been the subject of several analyst reports. Raymond James Financial assumed coverage on Cytokinetics in a research note on Wednesday, July 30th. They issued a “market perform” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Cytokinetics in a research report on Wednesday, October 8th. Stifel Nicolaus boosted their price objective on shares of Cytokinetics from $87.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research note on Tuesday, September 2nd. Finally, HC Wainwright reissued a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a report on Monday, September 29th. Thirteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Cytokinetics presently has an average rating of “Moderate Buy” and a consensus target price of $76.64.

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.