Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Bought by Alyeska Investment Group L.P.

Alyeska Investment Group L.P. lifted its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 500.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,000 shares of the biopharmaceutical company's stock after purchasing an additional 125,000 shares during the quarter. Alyeska Investment Group L.P. owned 0.13% of Cytokinetics worth $7,056,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CYTK. Capital International Investors acquired a new position in shares of Cytokinetics during the 4th quarter worth about $51,564,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of Cytokinetics by 11.0% in 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 last quarter. Norges Bank purchased a new stake in shares of Cytokinetics during the fourth quarter worth approximately $46,556,000. Groupama Asset Managment acquired a new stake in Cytokinetics during the 4th quarter worth $16,464,000. Finally, Marshall Wace LLP raised its holdings in Cytokinetics by 14.9% in the 4th quarter. Marshall Wace LLP now owns 2,153,313 shares of the biopharmaceutical company's stock valued at $101,292,000 after acquiring an additional 279,612 shares during the last quarter.

Analyst Upgrades and Downgrades

CYTK has been the topic of a number of analyst reports. Evercore ISI raised shares of Cytokinetics to a "strong-buy" rating in a research note on Friday, February 7th. Bank of America cut their target price on Cytokinetics from $62.00 to $54.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. JMP Securities reaffirmed a "market outperform" rating and issued a $78.00 price target on shares of Cytokinetics in a research note on Thursday, April 10th. Barclays lowered their price target on Cytokinetics from $55.00 to $53.00 and set an "overweight" rating for the company in a report on Thursday. Finally, HC Wainwright restated a "buy" rating and issued a $120.00 price objective on shares of Cytokinetics in a report on Monday, April 21st. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cytokinetics currently has an average rating of "Moderate Buy" and a consensus target price of $76.29.

Cytokinetics Stock Down 2.4 %

Shares of Cytokinetics stock traded down $0.79 during trading hours on Friday, hitting $31.69. The company had a trading volume of 1,037,661 shares, compared to its average volume of 1,667,581. The company's 50-day moving average is $40.18 and its two-hundred day moving average is $46.01. Cytokinetics, Incorporated has a twelve month low of $31.67 and a twelve month high of $64.61. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The company has a market cap of $3.78 billion, a P/E ratio of -5.89 and a beta of 0.81.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.41) by $0.05. The company had revenue of $1.60 million during the quarter, compared to analyst estimates of $2.77 million. During the same quarter in the prior year, the company earned ($1.33) EPS. The business's revenue was up 89.1% on a year-over-year basis. Analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Insider Activity

In other Cytokinetics news, Director Wendall Wierenga sold 20,000 shares of Cytokinetics 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 in the company, valued at approximately $955,654.08. This trade represents a 44.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Fady Ibraham Malik sold 2,000 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $45.98, for a total transaction of $91,960.00. Following the completion of the transaction, the executive vice president now directly owns 116,071 shares in the company, valued at $5,336,944.58. This represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,362 shares of company stock valued at $3,899,118. 2.70% of the stock is currently owned by company insiders.

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.