Swiss National Bank Buys 4,300 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Swiss National Bank increased its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 219,800 shares of the biopharmaceutical company’s stock after purchasing an additional 4,300 shares during the quarter. Swiss National Bank’s holdings in Cytokinetics were worth $10,339,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Harvey Capital Management Inc. bought a new stake in shares of Cytokinetics in the 4th quarter worth approximately $1,040,000. Westfield Capital Management Co. LP raised its holdings in shares of Cytokinetics by 38.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock worth $64,040,000 after purchasing an additional 339,373 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Cytokinetics by 42.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock worth $69,769,000 after purchasing an additional 395,709 shares during the period. abrdn plc raised its holdings in shares of Cytokinetics by 29.4% in the 4th quarter. abrdn plc now owns 450,513 shares of the biopharmaceutical company’s stock worth $21,192,000 after purchasing an additional 102,457 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in Cytokinetics by 24.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 344,448 shares of the biopharmaceutical company’s stock valued at $18,187,000 after buying an additional 68,381 shares in the last quarter.

Analyst Ratings Changes

A number of research firms recently weighed in on CYTK. Morgan Stanley set a $67.00 price objective on shares of Cytokinetics in a research note on Friday, March 7th. HC Wainwright reiterated a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a research note on Friday, February 28th. Evercore ISI upgraded shares of Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. Stifel Nicolaus initiated coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price objective for the company. Finally, Citigroup initiated coverage on shares of Cytokinetics in a research report on Friday, February 7th. They set a “buy” rating and a $86.00 price target for the company. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.00.

Cytokinetics Stock Down 0.8 %

Shares of NASDAQ:CYTK opened at $43.10 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. The firm has a market capitalization of $5.10 billion, a PE ratio of -8.01 and a beta of 0.95. The firm has a fifty day moving average of $45.99 and a 200 day moving average of $50.04. Cytokinetics, Incorporated has a 52-week low of $40.53 and a 52-week high of $75.71.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.03. The business had revenue of $16.93 million during the quarter, compared to the consensus estimate of $14.26 million. As a group, research analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cytokinetics news, CEO Robert I. Blum sold 16,970 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $43.44, for a total value of $737,176.80. Following the completion of the sale, the chief executive officer now directly owns 364,181 shares of the company’s stock, valued at $15,820,022.64. The trade was a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Fady Ibraham Malik sold 2,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $45.92, for a total transaction of $91,840.00. Following the transaction, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at approximately $5,329,980.32. This trade represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,834 shares of company stock valued at $1,949,275 over the last three months. Insiders own 3.40% of the company’s stock.

Cytokinetics 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.