60,450 Shares in Cytokinetics, Incorporated (NASDAQ:CYTK) Acquired by Erste Asset Management GmbH

Erste Asset Management GmbH acquired a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 60,450 shares of the biopharmaceutical company’s stock, valued at approximately $3,164,000.

Several other institutional investors have also added to or reduced their stakes in the company. Darwin Global Management Ltd. bought a new position in shares of Cytokinetics in the 2nd quarter valued at $246,074,000. Charles Schwab Investment Management Inc. grew its position in Cytokinetics by 42.7% in the third 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 during the last quarter. Westfield Capital Management Co. LP raised its stake in Cytokinetics by 38.9% during the third 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 in the last quarter. Integral Health Asset Management LLC lifted its holdings in shares of Cytokinetics by 122.2% in the second quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $54,180,000 after acquiring an additional 550,000 shares during the last quarter. Finally, Hood River Capital Management LLC boosted its stake in shares of Cytokinetics by 5.9% in the 2nd quarter. Hood River Capital Management LLC now owns 737,637 shares of the biopharmaceutical company’s stock valued at $39,965,000 after purchasing an additional 40,990 shares in the last quarter.

Insiders Place Their Bets

In other Cytokinetics news, Director Wendall Wierenga sold 4,452 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $52.25, for a total value of $232,617.00. Following the completion of the sale, the director now owns 24,559 shares of the company’s stock, valued at approximately $1,283,207.75. This trade represents a 15.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Fady Ibraham Malik sold 6,342 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $58.48, for a total value of $370,880.16. Following the transaction, the executive vice president now directly owns 113,878 shares in the company, valued at $6,659,585.44. The trade was a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,994 shares of company stock worth $3,427,975. 3.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on CYTK. JPMorgan Chase & Co. increased their price objective on shares of Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. JMP Securities reiterated a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research note on Wednesday, September 4th. Needham & Company LLC restated a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Monday. Royal Bank of Canada began coverage on Cytokinetics in a research note on Friday, November 8th. They set an “outperform” rating and a $80.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $83.93.

Cytokinetics Stock Down 2.4 %

Shares of Cytokinetics stock opened at $50.63 on Tuesday. The stock’s 50-day moving average is $53.21 and its 200 day moving average is $54.35. Cytokinetics, Incorporated has a one year low of $32.50 and a one year high of $110.25. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of -9.41 and a beta of 0.78. 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 (NASDAQ:CYTK) last announced its quarterly earnings data 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 firm had revenue of $0.46 million for the quarter, compared to the consensus estimate of $1.21 million. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same period last year, the business posted ($1.35) earnings per share. Equities research analysts anticipate that Cytokinetics, Incorporated will post -5.25 EPS for the current year.

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.