Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 24.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 344,448 shares of the biopharmaceutical company’s stock after acquiring an additional 68,381 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.29% of Cytokinetics worth $18,187,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. J.Safra Asset Management Corp grew its holdings in Cytokinetics by 642.3% during the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 456 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Cytokinetics by 65.6% during 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 in the last quarter. Blue Trust Inc. increased its position in shares of Cytokinetics by 225.9% during the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 680 shares during the last quarter. Values First Advisors Inc. acquired a new position in shares of Cytokinetics in the third quarter worth about $54,000. Finally, Bessemer Group Inc. boosted its holdings in Cytokinetics by 25,100.0% in the first quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 1,255 shares during the last quarter.

Analyst Ratings Changes

Several research firms have issued reports on CYTK. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a report on Wednesday, September 4th. JPMorgan Chase & Co. raised their price objective on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Needham & Company LLC restated a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $85.00 to $60.00 in a research note on Tuesday, August 13th. One 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Cytokinetics Price Performance

Shares of NASDAQ CYTK opened at $50.25 on Tuesday. 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 firm has a market capitalization of $5.93 billion, a PE ratio of -9.34 and a beta of 0.78. Cytokinetics, Incorporated has a 1-year low of $30.68 and a 1-year high of $110.25. The business’s fifty day moving average price is $53.47 and its two-hundred day moving average price is $54.57.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The company had revenue of $0.46 million for the quarter, compared to analyst estimates 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 previous year, the business posted ($1.35) earnings per share. On average, research analysts expect that Cytokinetics, Incorporated will post -5.25 EPS for the current year.

Insider Activity

In other news, Director Wendall Wierenga sold 4,452 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $52.25, for a total transaction of $232,617.00. Following the transaction, the director now directly owns 24,559 shares of the company’s stock, valued at approximately $1,283,207.75. This trade represents a 15.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the executive vice president now directly owns 122,920 shares of the company’s stock, valued at $7,007,669.20. The trade was a 5.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,078 shares of company stock valued at $3,514,119. Insiders own 3.40% of the company’s stock.

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.