Covestor Ltd Has $37,000 Stock Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Covestor Ltd lowered its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 63.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 691 shares of the biopharmaceutical company’s stock after selling 1,204 shares during the period. Covestor Ltd’s holdings in Cytokinetics were worth $37,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. J.Safra Asset Management Corp grew its position in Cytokinetics by 642.3% during the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 456 shares during the period. UMB Bank n.a. boosted its position in shares of Cytokinetics by 65.6% in the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 238 shares during the period. Blue Trust Inc. raised its stake in Cytokinetics by 225.9% in the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 680 shares in the last quarter. Values First Advisors Inc. purchased a new stake in Cytokinetics in the third quarter valued at approximately $54,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Cytokinetics during the first quarter worth approximately $74,000.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. The Goldman Sachs Group lowered Cytokinetics from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $85.00 to $60.00 in a research report on Tuesday, August 13th. Royal Bank of Canada started coverage on shares of Cytokinetics in a research report on Friday, November 8th. They set an “outperform” rating and a $80.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. Finally, HC Wainwright reiterated a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $83.67.

Cytokinetics Stock Performance

Shares of NASDAQ:CYTK opened at $50.22 on Friday. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The business’s 50 day moving average price is $54.08 and its 200-day moving average price is $55.30. The firm has a market capitalization of $5.93 billion, a PE ratio of -9.33 and a beta of 0.78. Cytokinetics, Incorporated has a 1 year low of $30.68 and a 1 year high of $110.25.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The business had revenue of $0.46 million during the quarter, compared to the consensus estimate of $1.21 million. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.35) EPS. As a group, equities research analysts expect that Cytokinetics, Incorporated will post -5.31 earnings per share for the current fiscal year.

Insider Activity at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 7,384 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.01, for a total transaction of $420,961.84. Following the completion of the transaction, the executive vice president now directly owns 122,920 shares of the company’s stock, valued at approximately $7,007,669.20. This represents a 5.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $52.14, for a total value of $260,700.00. Following the transaction, the chief executive officer now directly owns 397,456 shares of the company’s stock, valued at approximately $20,723,355.84. This represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,078 shares of company stock worth $3,261,369. 3.40% of the stock is currently owned by company insiders.

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.