Bellevue Group AG Sells 5,718 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Bellevue Group AG reduced its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 34.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,941 shares of the biopharmaceutical company’s stock after selling 5,718 shares during the quarter. Bellevue Group AG’s holdings in Cytokinetics were worth $578,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. J.Safra Asset Management Corp lifted its stake in shares of Cytokinetics by 642.3% during the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 456 shares during the last quarter. UMB Bank n.a. increased its stake in Cytokinetics by 65.6% in the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 238 shares during the period. Blue Trust Inc. lifted its position in shares of Cytokinetics by 225.9% during the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 680 shares during the last quarter. Values First Advisors Inc. purchased a new stake in shares of Cytokinetics during the third quarter valued at $54,000. Finally, Quarry LP grew its holdings in shares of Cytokinetics by 233.3% in the second quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 1,400 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CYTK shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research note on Wednesday, November 20th. Mizuho boosted their price target on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Royal Bank of Canada assumed coverage on Cytokinetics in a report on Friday, November 8th. They set an “outperform” rating and a $80.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their target price on Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Cytokinetics currently has an average rating of “Moderate Buy” and an average target price of $83.93.

Cytokinetics Price Performance

CYTK opened at $51.86 on Monday. The firm has a market capitalization of $6.12 billion, a PE ratio of -9.64 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. The business’s 50-day moving average is $53.21 and its two-hundred day moving average is $54.39. Cytokinetics, Incorporated has a 1 year low of $32.35 and a 1 year high of $110.25.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The firm had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $1.21 million. The firm’s revenue was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.35) earnings per share. Research analysts anticipate that Cytokinetics, Incorporated will post -5.25 earnings per share for the current fiscal year.

Insider Activity

In other Cytokinetics news, EVP Fady Ibraham Malik sold 7,384 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $57.01, for a total transaction of $420,961.84. Following the sale, the executive vice president now owns 122,920 shares of the company’s stock, valued at approximately $7,007,669.20. The trade was a 5.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wendall Wierenga sold 4,452 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $52.25, for a total transaction of $232,617.00. Following the transaction, the director now owns 24,559 shares in the company, valued at $1,283,207.75. The trade was a 15.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,378 shares of company stock worth $3,880,287. Insiders own 3.40% of the company’s stock.

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.