Skandinaviska Enskilda Banken AB publ Boosts Holdings in Cytokinetics, Incorporated $CYTK

Skandinaviska Enskilda Banken AB publ lifted its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 280.7% in the third quarter, Holdings Channel reports. The institutional investor owned 149,957 shares of the biopharmaceutical company’s stock after acquiring an additional 110,568 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Cytokinetics were worth $8,242,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in Cytokinetics by 723.7% in the second quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 673 shares during the period. Fifth Third Bancorp grew its holdings in shares of Cytokinetics by 32.3% during the 3rd quarter. Fifth Third Bancorp now owns 1,072 shares of the biopharmaceutical company’s stock worth $59,000 after purchasing an additional 262 shares during the period. Farther Finance Advisors LLC increased its position in shares of Cytokinetics by 68.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,115 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 453 shares during the last quarter. Hantz Financial Services Inc. raised its holdings 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 during the period. Finally, Root Financial Partners LLC purchased a new stake in Cytokinetics in the 3rd quarter valued at about $80,000.

Cytokinetics Stock Up 0.5%

NASDAQ:CYTK opened at $66.98 on Thursday. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $70.98. The company has a fifty day simple moving average of $63.63 and a two-hundred day simple moving average of $57.24. The company has a market cap of $8.19 billion, a price-to-earnings ratio of -10.65 and a beta of 0.54.

Analyst Ratings Changes

Several brokerages have weighed in on CYTK. The Goldman Sachs Group set a $95.00 target price on shares of Cytokinetics and gave the stock a “buy” rating in a research note on Thursday, December 18th. B. Riley Financial increased their price objective on shares of Cytokinetics from $90.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Needham & Company LLC boosted their target price on Cytokinetics from $72.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. HC Wainwright raised their price target on Cytokinetics from $120.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cytokinetics in a research note on Wednesday, January 21st. Sixteen 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.94.

Insider Activity

In related news, EVP Fady Ibraham Malik sold 2,200 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $61.24, for a total transaction of $134,728.00. Following the sale, the executive vice president directly owned 138,552 shares in the company, valued at approximately $8,484,924.48. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew Callos sold 52,486 shares of Cytokinetics stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $65.95, for a total transaction of $3,461,451.70. Following the completion of the transaction, the executive vice president owned 50,660 shares of the company’s stock, valued at $3,341,027. This represents a 50.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 151,385 shares of company stock worth $9,817,158 over the last three months. Company insiders own 2.70% of the company’s stock.

About Cytokinetics

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.