DnB Asset Management AS Has $433,000 Stock Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

DnB Asset Management AS increased its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 24.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,213 shares of the biopharmaceutical company’s stock after purchasing an additional 1,826 shares during the period. DnB Asset Management AS’s holdings in Cytokinetics were worth $433,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CYTK. Norges Bank acquired a new stake in shares of Cytokinetics during the 4th quarter worth approximately $46,556,000. Two Sigma Advisers LP acquired a new stake in Cytokinetics in the third quarter worth $11,336,000. Janus Henderson Group PLC increased its stake in Cytokinetics by 17.2% in the third quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock valued at $60,399,000 after purchasing an additional 167,501 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Cytokinetics by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock valued at $560,520,000 after purchasing an additional 154,216 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Cytokinetics by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock worth $150,433,000 after purchasing an additional 109,938 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Citigroup began coverage on Cytokinetics in a research note on Friday, February 7th. They set a “buy” rating and a $86.00 price target on the stock. Morgan Stanley set a $67.00 target price on Cytokinetics in a report on Friday, March 7th. JMP Securities restated a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a research note on Friday, February 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a research note on Thursday, February 6th. Finally, Stifel Nicolaus started coverage on shares of Cytokinetics in a research report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 target price for the company. Two 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $82.00.

Insider Buying and Selling

In related news, EVP Andrew Callos sold 2,775 shares of Cytokinetics stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $44.38, for a total value of $123,154.50. Following the completion of the sale, the executive vice president now owns 34,888 shares of the company’s stock, valued at approximately $1,548,329.44. This trade represents a 7.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert I. Blum sold 16,970 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $43.44, for a total transaction of $737,176.80. Following the sale, the chief executive officer now directly owns 364,181 shares in the company, valued at approximately $15,820,022.64. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,834 shares of company stock valued at $2,560,525. 3.40% of the stock is owned by company insiders.

Cytokinetics Stock Up 7.3 %

Shares of NASDAQ:CYTK opened at $40.25 on Thursday. The company has a market capitalization of $4.77 billion, a PE ratio of -7.48 and a beta of 0.95. Cytokinetics, Incorporated has a 1 year low of $37.46 and a 1 year high of $75.71. 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 business has a fifty day moving average price of $45.34 and a two-hundred day moving average price of $49.23.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.03. The company had revenue of $16.93 million for the quarter, compared to analysts’ expectations of $14.26 million. Analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current 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.