Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 3.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,261 shares of the biopharmaceutical company’s stock after buying an additional 1,003 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cytokinetics were worth $1,176,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Assetmark Inc. raised its stake in shares of Cytokinetics by 11,510.0% during the 1st quarter. Assetmark Inc. now owns 1,161 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 1,151 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Cytokinetics by 29.7% during the 1st quarter. Cetera Investment Advisers now owns 5,904 shares of the biopharmaceutical company’s stock worth $237,000 after buying an additional 1,353 shares in the last quarter. KLP Kapitalforvaltning AS raised its stake in shares of Cytokinetics by 2.6% during the 1st quarter. KLP Kapitalforvaltning AS now owns 23,600 shares of the biopharmaceutical company’s stock worth $948,000 after buying an additional 600 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of Cytokinetics by 9.6% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 60,357 shares of the biopharmaceutical company’s stock worth $2,426,000 after buying an additional 5,282 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Cytokinetics during the 1st quarter worth approximately $27,085,000.

Cytokinetics Stock Down 0.3%

CYTK stock opened at $36.58 on Tuesday. Cytokinetics, Incorporated has a 52-week low of $29.31 and a 52-week high of $59.39. The stock’s fifty day simple moving average is $34.53 and its 200-day simple moving average is $38.96. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of -6.91 and a beta of 0.64.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.41) by $0.05. The business had revenue of $1.60 million for the quarter, compared to analyst estimates of $2.77 million. During the same quarter last year, the business earned ($1.33) EPS. Cytokinetics’s revenue for the quarter was up 89.1% compared to the same quarter last year. As a group, analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Cytokinetics

In other news, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $36.45, for a total transaction of $182,250.00. Following the sale, the chief executive officer owned 388,108 shares in the company, valued at $14,146,536.60. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Edward M. Md Kaye sold 3,636 shares of Cytokinetics stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $32.10, for a total value of $116,715.60. Following the completion of the transaction, the director owned 29,658 shares in the company, valued at $952,021.80. The trade was a 10.92% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,749 shares of company stock valued at $1,277,937. 3.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CYTK shares. JMP Securities reissued a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a research note on Thursday, April 10th. HC Wainwright reissued a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research note on Monday, April 21st. Raymond James Financial initiated coverage on Cytokinetics in a research note on Wednesday, July 30th. They issued a “market perform” rating for the company. UBS Group dropped their price objective on Cytokinetics from $47.00 to $41.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a research note on Wednesday, May 14th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.92.

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.