Zurcher Kantonalbank Zurich Cantonalbank Has $1.68 Million Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 14.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,137 shares of the biopharmaceutical company’s stock after purchasing an additional 2,557 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cytokinetics were worth $1,681,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CYTK. Mackenzie Financial Corp acquired a new position in shares of Cytokinetics in the 4th quarter valued at approximately $506,000. Louisiana State Employees Retirement System acquired a new position in Cytokinetics during the fourth quarter valued at approximately $4,099,000. Mutual of America Capital Management LLC lifted its stake in Cytokinetics by 2.0% during the fourth quarter. Mutual of America Capital Management LLC now owns 17,162 shares of the biopharmaceutical company’s stock worth $1,433,000 after purchasing an additional 337 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Cytokinetics in the 4th quarter valued at $263,000. Finally, HC Advisors LLC acquired a new stake in shares of Cytokinetics in the 4th quarter valued at $271,000.

Insiders Place Their Bets

In other news, EVP Fady Ibraham Malik sold 32,605 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $79.30, for a total value of $2,585,576.50. Following the transaction, the executive vice president now directly owns 142,973 shares of the company’s stock, valued at approximately $11,337,758.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Fady Ibraham Malik sold 32,605 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total transaction of $2,585,576.50. Following the transaction, the executive vice president now owns 142,973 shares of the company’s stock, valued at approximately $11,337,758.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John T. Henderson sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $76.48, for a total value of $382,400.00. Following the transaction, the director now directly owns 42,632 shares in the company, valued at $3,260,495.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,314 shares of company stock worth $8,588,205. Company insiders own 3.40% of the company’s stock.

Cytokinetics Price Performance

Cytokinetics stock opened at $66.82 on Thursday. The stock’s 50 day moving average is $70.41 and its 200 day moving average is $59.55. Cytokinetics, Incorporated has a one year low of $25.98 and a one year high of $110.25. The firm has a market cap of $6.99 billion, a P/E ratio of -12.26 and a beta of 0.68.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.35). The firm had revenue of $1.70 million for the quarter, compared to the consensus estimate of $7.62 million. During the same quarter in the prior year, the company posted ($1.45) earnings per share. The business’s revenue was down 10.5% on a year-over-year basis. Equities analysts anticipate that Cytokinetics, Incorporated will post -4.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on CYTK shares. UBS Group lowered Cytokinetics from a “buy” rating to a “neutral” rating and raised their price objective for the company from $61.00 to $92.00 in a research note on Wednesday, January 24th. StockNews.com lowered shares of Cytokinetics from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Oppenheimer reissued an “outperform” rating and issued a $107.00 price objective on shares of Cytokinetics in a research note on Monday, March 4th. Truist Financial reaffirmed a “buy” rating and set a $86.00 target price on shares of Cytokinetics in a research note on Monday, April 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $94.00 price target on shares of Cytokinetics in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.33.

Cytokinetics Company 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.