US Bancorp DE Has $33,000 Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

US Bancorp DE raised its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 144.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,687 shares of the biopharmaceutical company’s stock after buying an additional 998 shares during the quarter. US Bancorp DE’s holdings in Cytokinetics were worth $33,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Envestnet Asset Management Inc. increased its position in Cytokinetics by 8.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 20,477 shares of the biopharmaceutical company’s stock valued at $405,000 after acquiring an additional 1,680 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Cytokinetics by 82.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 169,460 shares of the biopharmaceutical company’s stock valued at $3,352,000 after purchasing an additional 76,723 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Cytokinetics by 7.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 16,500 shares of the biopharmaceutical company’s stock valued at $327,000 after purchasing an additional 1,100 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Cytokinetics by 0.9% in the 2nd quarter. New York State Common Retirement Fund now owns 60,745 shares of the biopharmaceutical company’s stock valued at $1,202,000 after purchasing an additional 545 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in shares of Cytokinetics by 1.6% in the 2nd quarter. Pinnacle Associates Ltd. now owns 329,395 shares of the biopharmaceutical company’s stock valued at $6,519,000 after purchasing an additional 5,096 shares during the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Shares of CYTK opened at $32.87 on Wednesday. The company has a debt-to-equity ratio of 7.76, a quick ratio of 5.90 and a current ratio of 5.90. Cytokinetics, Incorporated has a twelve month low of $14.71 and a twelve month high of $34.45. The firm’s 50 day moving average price is $30.39 and its two-hundred day moving average price is $25.60. The firm has a market cap of $2.75 billion, a P/E ratio of -15.01 and a beta of 1.41.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Thursday, August 5th. The biopharmaceutical company reported ($0.86) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.66) by ($0.20). Cytokinetics had a negative net margin of 269.48% and a negative return on equity of 179.39%. The company had revenue of $2.84 million during the quarter, compared to the consensus estimate of $5.68 million. On average, sell-side analysts anticipate that Cytokinetics, Incorporated will post -3.02 earnings per share for the current fiscal year.

In other news, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction that occurred on Tuesday, July 6th. The shares were sold at an average price of $20.13, for a total value of $100,650.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David Cragg sold 2,616 shares of Cytokinetics stock in a transaction that occurred on Monday, August 2nd. The shares were sold at an average price of $29.67, for a total transaction of $77,616.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,581 shares of company stock worth $985,416. Insiders own 5.70% of the company’s stock.

CYTK has been the topic of several recent research reports. Barclays raised their target price on shares of Cytokinetics from $40.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday, September 7th. Raymond James raised their target price on shares of Cytokinetics from $37.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, July 19th. JMP Securities raised their target price on shares of Cytokinetics from $26.00 to $44.00 and gave the company an “outperform” rating in a research note on Monday, July 19th. Needham & Company LLC raised their target price on shares of Cytokinetics from $33.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, July 19th. Finally, Mizuho started coverage on shares of Cytokinetics in a research note on Thursday, July 1st. They set a “buy” rating and a $36.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $43.09.

Cytokinetics Company Profile

Cytokinetics, Inc operates as a biopharmaceutical company. The firm focuses on the discovery and development of muscle activators as potential treatment for debilitating diseases. It conducts a Phase 2 clinical trials program for tirasemtiv, including a Phase 2b clinical trial in patients with ALS, known as BENEFIT-ALS (Blinded Evaluation of Neuromuscular Effects and Functional Improvement with Tirasemtiv in ALS).

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Institutional Ownership by Quarter for Cytokinetics (NASDAQ:CYTK)

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