Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. lifted its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 10.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 37,101 shares of the biopharmaceutical company’s stock after buying an additional 3,546 shares during the period. Federated Hermes Inc.’s holdings in Cytokinetics were worth $1,745,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CYTK. Jones Financial Companies Lllp raised its position in Cytokinetics by 189.8% in the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 374 shares during the period. Retirement Systems of Alabama raised its holdings in shares of Cytokinetics by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company’s stock valued at $6,750,000 after buying an additional 565 shares during the period. Arizona State Retirement System lifted its position in Cytokinetics by 1.9% during the 4th quarter. Arizona State Retirement System now owns 32,366 shares of the biopharmaceutical company’s stock worth $1,522,000 after acquiring an additional 600 shares in the last quarter. Inspire Investing LLC boosted its holdings in Cytokinetics by 7.8% in the 4th quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock worth $400,000 after acquiring an additional 616 shares during the period. Finally, Centricity Wealth Management LLC acquired a new stake in Cytokinetics in the fourth quarter valued at approximately $29,000.

Insider Activity

In other news, EVP Andrew Callos sold 3,341 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $43.27, for a total transaction of $144,565.07. Following the completion of the transaction, the executive vice president now owns 64,434 shares of the company’s stock, valued at approximately $2,788,059.18. The trade was a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $48.06, for a total transaction of $96,120.00. Following the completion of the sale, the executive vice president now directly owns 116,071 shares in the company, valued at approximately $5,578,372.26. This trade represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,170 shares of company stock valued at $2,766,739. 3.40% of the stock is currently owned by insiders.

Cytokinetics Stock Up 2.1 %

CYTK stock opened at $38.65 on Monday. The firm has a fifty day moving average price of $43.17 and a two-hundred day moving average price of $48.15. 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, Incorporated has a 1-year low of $32.74 and a 1-year high of $71.60. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of -7.18 and a beta of 0.94.

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

Analysts Set New Price Targets

A number of research firms have recently commented on CYTK. Morgan Stanley set a $67.00 target price on shares of Cytokinetics in a research report on Friday, March 7th. Royal Bank of Canada upped their price objective on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Stifel Nicolaus began coverage on Cytokinetics in a research note on Wednesday, January 22nd. They set a “buy” rating and a $80.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research note on Friday, April 4th. Finally, JMP Securities restated a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research note on Thursday. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.00.

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.