Algert Global LLC Raises Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Algert Global LLC lifted its position in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 20.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,680 shares of the biopharmaceutical company's stock after purchasing an additional 10,010 shares during the period. Algert Global LLC's holdings in Cytokinetics were worth $2,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of CYTK. Capital International Investors purchased a new position in shares of Cytokinetics during the 4th quarter valued at approximately $51,564,000. T. Rowe Price Investment Management Inc. raised its position in Cytokinetics by 11.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company's stock worth $505,780,000 after acquiring an additional 1,062,136 shares during the period. Norges Bank purchased a new position in Cytokinetics during the fourth quarter valued at $46,556,000. Groupama Asset Managment acquired a new stake in shares of Cytokinetics in the fourth quarter valued at about $16,464,000. Finally, Marshall Wace LLP increased its stake in shares of Cytokinetics by 14.9% during the fourth quarter. Marshall Wace LLP now owns 2,153,313 shares of the biopharmaceutical company's stock worth $101,292,000 after purchasing an additional 279,612 shares in the last quarter.

Insiders Place Their Bets

In other news, EVP Andrew Callos sold 4,002 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $36.68, for a total value of $146,793.36. Following the sale, the executive vice president now directly owns 60,687 shares in the company, valued at approximately $2,225,999.16. This trade represents a 6.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $45.98, for a total value of $91,960.00. Following the completion of the sale, the executive vice president now owns 116,071 shares in the company, valued at approximately $5,336,944.58. The trade was a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,362 shares of company stock worth $3,899,118 over the last ninety days. Corporate insiders own 2.70% of the company's stock.

Cytokinetics Price Performance

Shares of CYTK stock traded up $0.64 during trading hours on Monday, reaching $32.34. The company had a trading volume of 1,338,181 shares, compared to its average volume of 1,668,068. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The stock has a fifty day moving average of $40.18 and a 200-day moving average of $45.92. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of -6.00 and a beta of 0.81. Cytokinetics, Incorporated has a 12-month low of $31.67 and a 12-month high of $63.46.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, topping the consensus estimate of ($1.41) by $0.05. The business had revenue of $1.60 million during the quarter, compared to analysts' expectations of $2.77 million. During the same quarter in the previous year, the company posted ($1.33) earnings per share. The company's revenue was up 89.1% on a year-over-year basis. On average, equities analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. UBS Group decreased their price target on shares of Cytokinetics from $47.00 to $41.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. JMP Securities restated a "market outperform" rating and issued a $78.00 target price on shares of Cytokinetics in a research report on Thursday, April 10th. Evercore ISI upgraded Cytokinetics to a "strong-buy" rating in a research report on Friday, February 7th. Needham & Company LLC restated a "buy" rating and issued a $72.00 price objective on shares of Cytokinetics in a report on Friday, May 2nd. Finally, Royal Bank of Canada dropped their target price on shares of Cytokinetics from $82.00 to $80.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $74.44.

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.