Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Acquired by Pinebridge Investments L.P.

Pinebridge Investments L.P. lifted its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 42.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,404 shares of the biopharmaceutical company’s stock after acquiring an additional 10,889 shares during the quarter. Pinebridge Investments L.P.’s holdings in Cytokinetics were worth $1,712,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in shares of Cytokinetics by 189.8% in the 4th 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. Centricity Wealth Management LLC purchased a new stake in shares of Cytokinetics during the 4th quarter worth about $29,000. AlphaQuest LLC grew its position in shares of Cytokinetics by 113,500.0% during the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 1,135 shares during the period. J.Safra Asset Management Corp increased its stake in shares of Cytokinetics by 62.1% in the 4th quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 671 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Cytokinetics by 85.8% in the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company’s stock worth $86,000 after purchasing an additional 842 shares during the period.

Analyst Ratings Changes

A number of research firms recently issued reports on CYTK. Stifel Nicolaus assumed coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price target on the stock. Evercore ISI raised shares of Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. Citigroup began coverage on shares of Cytokinetics in a research note on Friday, February 7th. They issued a “buy” rating and a $86.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a research note on Monday, April 21st. Finally, Morgan Stanley set a $67.00 target price on Cytokinetics in a research report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $79.13.

Insider Buying and Selling

In other news, Director Wendall Wierenga sold 20,000 shares of Cytokinetics stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $38.46, for a total transaction of $769,200.00. Following the sale, the director now owns 24,848 shares in the company, valued at $955,654.08. This trade represents a 44.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $38.11, for a total transaction of $76,220.00. Following the sale, the executive vice president now directly owns 140,255 shares in the company, valued at $5,345,118.05. This trade represents a 1.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 88,360 shares of company stock valued at $3,643,645. 3.40% of the stock is currently owned by corporate insiders.

Cytokinetics Stock Up 0.2 %

Shares of NASDAQ:CYTK opened at $40.43 on Monday. The company has a market capitalization of $4.82 billion, a P/E ratio of -7.51 and a beta of 0.94. The stock’s fifty day simple moving average is $42.09 and its 200-day simple moving average is $47.11. Cytokinetics, Incorporated has a 52-week low of $32.74 and a 52-week high of $68.44. 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 (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, beating the consensus estimate of ($1.29) by $0.03. The business had revenue of $16.93 million during the quarter, compared to analyst estimates of $14.26 million. As a group, equities research analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

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.