Swiss National Bank Buys 20,000 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Swiss National Bank lifted its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 10.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 215,500 shares of the biopharmaceutical company’s stock after purchasing an additional 20,000 shares during the quarter. Swiss National Bank owned 0.18% of Cytokinetics worth $11,378,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CYTK. Royce & Associates LP increased its position in shares of Cytokinetics by 70.2% during the third quarter. Royce & Associates LP now owns 24,250 shares of the biopharmaceutical company’s stock valued at $1,280,000 after buying an additional 10,000 shares during the period. Oppenheimer & Co. Inc. increased its holdings in Cytokinetics by 10.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 8,546 shares of the biopharmaceutical company’s stock worth $451,000 after acquiring an additional 824 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in Cytokinetics by 9.3% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 42,851 shares of the biopharmaceutical company’s stock worth $2,263,000 after purchasing an additional 3,654 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Cytokinetics by 16.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 7,640 shares of the biopharmaceutical company’s stock worth $403,000 after purchasing an additional 1,072 shares in the last quarter. Finally, AlphaCentric Advisors LLC bought a new position in Cytokinetics in the 3rd quarter valued at $660,000.

Insider Activity at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $57.03, for a total transaction of $285,150.00. Following the transaction, the chief executive officer now directly owns 397,456 shares of the company’s stock, valued at approximately $22,666,915.68. The trade was a 1.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Fady Ibraham Malik sold 6,342 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $58.48, for a total transaction of $370,880.16. Following the completion of the sale, the executive vice president now directly owns 113,878 shares of the company’s stock, valued at approximately $6,659,585.44. This represents a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,078 shares of company stock worth $3,514,119 in the last 90 days. Company insiders own 3.40% of the company’s stock.

Cytokinetics Stock Performance

NASDAQ:CYTK opened at $49.10 on Friday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. Cytokinetics, Incorporated has a fifty-two week low of $30.68 and a fifty-two week high of $110.25. The business has a 50 day moving average price of $53.60 and a 200-day moving average price of $54.74. The firm has a market cap of $5.79 billion, a PE ratio of -9.13 and a beta of 0.78.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The business had revenue of $0.46 million for the quarter, compared to analyst estimates of $1.21 million. The firm’s revenue was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.35) earnings per share. Equities research analysts predict that Cytokinetics, Incorporated will post -5.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

CYTK has been the topic of a number of recent analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research report on Wednesday, September 4th. The Goldman Sachs Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and dropped their price target for the company from $85.00 to $60.00 in a research report on Tuesday, August 13th. Royal Bank of Canada started coverage on Cytokinetics in a report on Friday, November 8th. They set an “outperform” rating and a $80.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a research note on Monday, November 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research note on Wednesday. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.93.

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.