Melqart Asset Management UK Ltd Sells 75,824 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Melqart Asset Management UK Ltd decreased its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 6.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,136,434 shares of the biopharmaceutical company’s stock after selling 75,824 shares during the quarter. Cytokinetics accounts for about 6.5% of Melqart Asset Management UK Ltd’s portfolio, making the stock its 4th largest holding. Melqart Asset Management UK Ltd owned approximately 0.96% of Cytokinetics worth $53,458,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Retirement Systems of Alabama raised its position in shares of Cytokinetics by 1.0% in the third quarter. Retirement Systems of Alabama now owns 142,930 shares of the biopharmaceutical company’s stock valued at $7,547,000 after buying an additional 1,414 shares in the last quarter. Exome Asset Management LLC bought a new stake in shares of Cytokinetics during the 3rd quarter valued at $3,093,000. Harbor Capital Advisors Inc. grew its holdings in shares of Cytokinetics by 6.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 45,130 shares of the biopharmaceutical company’s stock worth $2,123,000 after purchasing an additional 2,604 shares in the last quarter. Mirador Capital Partners LP grew its holdings in shares of Cytokinetics by 1.6% during the 4th quarter. Mirador Capital Partners LP now owns 65,636 shares of the biopharmaceutical company’s stock worth $3,088,000 after purchasing an additional 1,010 shares in the last quarter. Finally, Inspire Investing LLC increased its position in shares of Cytokinetics by 7.8% in the fourth quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock worth $400,000 after purchasing an additional 616 shares during the period.

Analysts Set New Price Targets

A number of brokerages have issued reports on CYTK. Evercore ISI upgraded shares of Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. HC Wainwright reiterated a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a research report on Monday, April 21st. Citigroup assumed coverage on shares of Cytokinetics in a research report on Friday, February 7th. They set a “buy” rating and a $86.00 price objective for the company. JMP Securities restated a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a research note on Thursday, April 10th. Finally, Morgan Stanley set a $67.00 price target on Cytokinetics in a research note on Friday, March 7th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.13.

Insider Transactions at Cytokinetics

In other Cytokinetics news, Director Wendall Wierenga sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $38.46, for a total value of $769,200.00. Following the transaction, the director now directly owns 24,848 shares of the company’s stock, valued at approximately $955,654.08. The trade was a 44.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $48.06, for a total value of $96,120.00. Following the transaction, the executive vice president now owns 116,071 shares in the company, valued at $5,578,372.26. The trade was a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,360 shares of company stock worth $3,643,645. Company insiders own 3.40% of the company’s stock.

Cytokinetics Stock Performance

NASDAQ CYTK opened at $40.43 on Friday. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of -7.51 and a beta of 0.94. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a twelve month low of $32.74 and a twelve month high of $68.44. The stock has a fifty day simple moving average of $42.09 and a 200 day simple moving average of $47.15.

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

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.