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

Massachusetts Financial Services Co. MA raised its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 24.8% in the third quarter, Holdings Channel.com reports. The fund owned 344,448 shares of the biopharmaceutical company’s stock after acquiring an additional 68,381 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Cytokinetics were worth $18,187,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. J.Safra Asset Management Corp raised its holdings in shares of Cytokinetics by 642.3% in the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 456 shares in the last quarter. UMB Bank n.a. increased its holdings 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 buying an additional 238 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Cytokinetics by 225.9% during the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 680 shares during the last quarter. Values First Advisors Inc. bought a new stake in shares of Cytokinetics during the 3rd quarter worth $54,000. Finally, Bessemer Group Inc. grew its holdings in shares of Cytokinetics by 25,100.0% in the 1st quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock worth $88,000 after acquiring an additional 1,255 shares during the last quarter.

Wall Street Analyst Weigh In

CYTK has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research report on Wednesday, November 20th. Mizuho raised their target price on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. JMP Securities reissued a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research report on Wednesday, September 4th. HC Wainwright restated a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research report on Monday, November 18th. Finally, 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 objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Insider Transactions at Cytokinetics

In other news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.03, for a total transaction of $285,150.00. Following the transaction, the chief executive officer now owns 397,456 shares of the company’s stock, valued at approximately $22,666,915.68. This represents a 1.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Fady Ibraham Malik sold 7,384 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $57.01, for a total value of $420,961.84. Following the completion of the sale, the executive vice president now owns 122,920 shares of the company’s stock, valued at approximately $7,007,669.20. This trade represents a 5.67 % 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. 3.40% of the stock is owned by insiders.

Cytokinetics Stock 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. Cytokinetics, Incorporated has a one year low of $30.68 and a one year high of $110.25. The business’s 50-day moving average price is $53.47 and its two-hundred day moving average price is $54.57. The company has a market capitalization of $5.93 billion, a P/E ratio of -9.34 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) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The company had revenue of $0.46 million during the quarter, compared to analyst estimates of $1.21 million. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period last year, the firm posted ($1.35) earnings per share. Analysts anticipate that Cytokinetics, Incorporated will post -5.25 earnings per share for the current fiscal year.

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.