Capital International Investors Invests $51.56 Million in Cytokinetics, Incorporated (NASDAQ:CYTK)

Capital International Investors acquired a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,096,164 shares of the biopharmaceutical company's stock, valued at approximately $51,564,000. Capital International Investors owned about 0.93% of Cytokinetics at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in CYTK. Marshall Wace LLP increased its position in Cytokinetics by 14.9% during the 4th quarter. Marshall Wace LLP now owns 2,153,313 shares of the biopharmaceutical company's stock valued at $101,292,000 after purchasing an additional 279,612 shares during the period. Sterling Capital Management LLC raised its stake in Cytokinetics by 805.4% during the fourth quarter. Sterling Capital Management LLC now owns 3,332 shares of the biopharmaceutical company's stock worth $157,000 after buying an additional 2,964 shares during the last quarter. Quinn Opportunity Partners LLC boosted its position in Cytokinetics by 8.7% during the fourth quarter. Quinn Opportunity Partners LLC now owns 115,939 shares of the biopharmaceutical company's stock valued at $5,454,000 after acquiring an additional 9,302 shares during the last quarter. Kennedy Capital Management LLC grew its holdings in Cytokinetics by 22.3% during the 4th quarter. Kennedy Capital Management LLC now owns 6,423 shares of the biopharmaceutical company's stock worth $302,000 after acquiring an additional 1,172 shares during the period. Finally, Capital Fund Management S.A. raised its position in shares of Cytokinetics by 13.9% in the 4th quarter. Capital Fund Management S.A. now owns 40,446 shares of the biopharmaceutical company's stock worth $1,903,000 after acquiring an additional 4,924 shares in the last quarter.

Cytokinetics Stock Performance

NASDAQ CYTK traded up $0.10 during trading hours on Friday, reaching $40.43. 893,391 shares of the company were exchanged, compared to its average volume of 1,608,432. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The stock has a market capitalization of $4.82 billion, a P/E ratio of -7.51 and a beta of 0.94. Cytokinetics, Incorporated has a 1 year low of $32.74 and a 1 year high of $68.44. The business's 50 day simple moving average is $42.09 and its 200-day simple moving average is $47.20.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, topping analysts' consensus estimates of ($1.29) by $0.03. The company had revenue of $16.93 million during the quarter, compared to the consensus estimate of $14.26 million. On average, equities research analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Insider Transactions at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $48.06, for a total transaction of $96,120.00. Following the completion of the transaction, the executive vice president now owns 116,071 shares of the company's stock, valued at $5,578,372.26. The trade was a 1.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrew Callos sold 2,775 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $44.38, for a total transaction of $123,154.50. Following the completion of the sale, the executive vice president now directly owns 34,888 shares in the company, valued at approximately $1,548,329.44. The trade was a 7.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,360 shares of company stock worth $3,643,645 over the last quarter. Corporate insiders own 3.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CYTK shares. Needham & Company LLC reiterated a "buy" rating and issued a $72.00 target price on shares of Cytokinetics in a report on Tuesday, April 8th. Stifel Nicolaus started coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They set a "buy" rating and a $80.00 target price on the stock. Evercore ISI raised shares of Cytokinetics to a "strong-buy" rating in a research note on Friday, February 7th. Barclays assumed coverage on Cytokinetics in a research note on Thursday. They issued an "overweight" rating and a $55.00 target price for the company. Finally, Citigroup assumed coverage on Cytokinetics in a report on Friday, February 7th. They set a "buy" rating and a $86.00 price objective for the company. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Cytokinetics presently has a consensus rating of "Moderate Buy" and an average price target of $79.13.

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.