Centricity Wealth Management LLC Purchases New Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Centricity Wealth Management LLC acquired a new position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 624 shares of the biopharmaceutical company’s stock, valued at approximately $29,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of Cytokinetics by 4.0% during the third quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock valued at $150,433,000 after buying an additional 109,938 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Cytokinetics by 42.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock valued at $69,769,000 after acquiring an additional 395,709 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in Cytokinetics by 38.9% during 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 acquiring an additional 339,373 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Cytokinetics by 17.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock worth $60,399,000 after acquiring an additional 167,501 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Cytokinetics by 1.5% in the third quarter. Fisher Asset Management LLC now owns 542,284 shares of the biopharmaceutical company’s stock valued at $28,633,000 after purchasing an additional 7,764 shares during the last quarter.

Insider Transactions at Cytokinetics

In other Cytokinetics news, Director Wendall Wierenga sold 742 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $48.61, for a total transaction of $36,068.62. Following the sale, the director now owns 24,559 shares in the company, valued at $1,193,812.99. This represents a 2.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $50.76, for a total value of $253,800.00. Following the completion of the transaction, the chief executive officer now owns 397,678 shares of the company’s stock, valued at approximately $20,186,135.28. This trade represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,122 shares of company stock worth $1,494,016 over the last quarter. Corporate insiders own 3.40% of the company’s stock.

Cytokinetics Trading Down 1.7 %

Shares of Cytokinetics stock opened at $50.26 on Friday. The stock has a market capitalization of $5.93 billion, a P/E ratio of -9.34 and a beta of 0.83. Cytokinetics, Incorporated has a 52-week low of $40.53 and a 52-week high of $81.36. 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 stock’s 50-day simple moving average is $47.29 and its 200 day simple moving average is $51.53.

Analysts Set New Price Targets

Several research firms recently weighed in on CYTK. Citigroup initiated coverage on shares of Cytokinetics in a report on Friday, February 7th. They set a “buy” rating and a $86.00 price target on the stock. Stifel Nicolaus initiated coverage on Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a report on Tuesday, January 21st. Mizuho lifted their price target on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Royal Bank of Canada upped their price objective on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.00.

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.