Pictet Asset Management Holding SA reduced its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK – Free Report) by 0.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 750,953 shares of the biopharmaceutical company’s stock after selling 6,610 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Cytokinetics were worth $49,297,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in CYTK. EverSource Wealth Advisors LLC lifted its position in shares of Cytokinetics by 723.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 673 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in shares of Cytokinetics in the 4th quarter worth approximately $27,000. Kestra Advisory Services LLC purchased a new position in Cytokinetics in the 4th quarter valued at approximately $29,000. Quarry LP purchased a new position in Cytokinetics in the 3rd quarter valued at approximately $30,000. Finally, TD Waterhouse Canada Inc. acquired a new position in Cytokinetics during the fourth quarter worth $32,000.
Cytokinetics Stock Performance
Cytokinetics stock opened at $87.26 on Tuesday. Cytokinetics, Incorporated has a fifty-two week low of $32.66 and a fifty-two week high of $87.35. The company has a market capitalization of $10.86 billion, a price-to-earnings ratio of -12.76 and a beta of 0.42. The stock has a fifty day moving average of $73.40 and a two-hundred day moving average of $67.10.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on CYTK. Truist Financial set a $106.00 price target on Cytokinetics in a research report on Tuesday, May 5th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $119.00 price objective on shares of Cytokinetics in a research report on Wednesday, June 17th. Wall Street Zen raised shares of Cytokinetics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. HC Wainwright raised their target price on shares of Cytokinetics from $136.00 to $140.00 and gave the company a “buy” rating in a report on Monday, May 11th. Finally, Wells Fargo & Company lifted their target price on shares of Cytokinetics from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Cytokinetics currently has a consensus rating of “Moderate Buy” and an average price target of $100.00.
Check Out Our Latest Stock Analysis on Cytokinetics
Insider Buying and Selling at Cytokinetics
In other Cytokinetics news, CEO Robert I. Blum sold 7,500 shares of the company’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $59.62, for a total value of $447,150.00. Following the transaction, the chief executive officer directly owned 407,830 shares in the company, valued at approximately $24,314,824.60. This represents a 1.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director B Lynne Parshall sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $74.08, for a total transaction of $370,400.00. Following the sale, the director directly owned 15,784 shares in the company, valued at $1,169,278.72. This represents a 24.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 120,373 shares of company stock worth $8,381,895. Corporate insiders own 2.60% of the company’s stock.
About Cytokinetics
Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.
The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.
Featured Stories
- Five stocks we like better than Cytokinetics
- The AI Boom Has a Second Act—And It’s Playing Out in Optics
- Gold’s 2026 Rally Has Cracked—Is It Time to Buy the Pullback?
- 5 Tech Stocks to Buy on the July Pullback
- Is OpenAI’s IPO Delay a Warning for AI Investors?
Want to see what other hedge funds are holding CYTK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cytokinetics, Incorporated (NASDAQ:CYTK – Free Report).
Receive News & Ratings for Cytokinetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cytokinetics and related companies with MarketBeat.com's FREE daily email newsletter.
