Swiss National Bank Sells 1,000 Shares of Cytokinetics, Incorporated $CYTK

Swiss National Bank reduced its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 216,200 shares of the biopharmaceutical company’s stock after selling 1,000 shares during the period. Swiss National Bank owned about 0.18% of Cytokinetics worth $7,143,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Assetmark Inc. lifted its stake in Cytokinetics by 11,510.0% during the first quarter. Assetmark Inc. now owns 1,161 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 1,151 shares during the period. Hantz Financial Services Inc. raised its holdings in shares of Cytokinetics by 2,872.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 1,264 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Cytokinetics by 37.8% during the 2nd quarter. UMB Bank n.a. now owns 1,593 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 437 shares during the period. Covestor Ltd boosted its stake in Cytokinetics by 1,053.0% in the 1st 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. Finally, US Bancorp DE boosted its stake in Cytokinetics by 38.7% in the 1st quarter. US Bancorp DE now owns 2,410 shares of the biopharmaceutical company’s stock valued at $97,000 after buying an additional 672 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CYTK. Royal Bank Of Canada increased their price objective on Cytokinetics from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 11th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research report on Tuesday, October 21st. Barclays boosted their price target on shares of Cytokinetics from $71.00 to $82.00 and gave the company an “overweight” rating in a research report on Monday, October 6th. B. Riley reaffirmed a “buy” rating and set a $90.00 price objective (up previously from $80.00) on shares of Cytokinetics in a report on Monday, November 10th. Finally, Evercore ISI lifted their target price on shares of Cytokinetics from $60.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.86.

Cytokinetics Trading Up 0.1%

Shares of NASDAQ CYTK opened at $68.19 on Monday. Cytokinetics, Incorporated has a 1-year low of $29.31 and a 1-year high of $69.33. The company has a 50-day moving average of $60.27 and a two-hundred day moving average of $45.27. The company has a market cap of $8.34 billion, a PE ratio of -13.37 and a beta of 0.58.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.59) by $0.05. The company had revenue of $1.94 million during the quarter, compared to analyst estimates of $6.05 million. During the same period in the prior year, the business earned ($1.36) EPS. The business’s revenue for the quarter was up 318.1% on a year-over-year basis. As a group, equities research analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $62.86, for a total transaction of $314,300.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edward M. Md Kaye sold 5,175 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $65.08, for a total value of $336,789.00. Following the transaction, the director directly owned 9,977 shares in the company, valued at $649,303.16. This trade represents a 34.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 67,358 shares of company stock worth $3,895,365. 2.70% of the stock is currently owned by company insiders.

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.