Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 12.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 188,538 shares of the biopharmaceutical company's stock after selling 26,294 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.16% of Cytokinetics worth $8,869,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Cytokinetics by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company's stock worth $560,520,000 after purchasing an additional 154,216 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in 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 valued at $505,780,000 after buying an additional 1,062,136 shares in the last quarter. Marshall Wace LLP boosted its position in 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 acquiring an additional 279,612 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Cytokinetics by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,335,189 shares of the biopharmaceutical company's stock valued at $62,807,000 after purchasing an additional 13,798 shares during the last quarter. Finally, Capital International Investors purchased a new stake in shares of Cytokinetics in the 4th quarter valued at approximately $51,564,000.

Cytokinetics Stock Performance

CYTK stock traded down $0.79 during midday trading on Friday, reaching $31.69. 1,037,661 shares of the company's stock traded hands, compared to its average volume of 1,668,882. The stock's 50-day moving average is $40.18 and its 200 day moving average is $45.92. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The stock has a market cap of $3.78 billion, a P/E ratio of -5.89 and a beta of 0.81. Cytokinetics, Incorporated has a 52-week low of $31.67 and a 52-week high of $63.46.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.41) by $0.05. The firm had revenue of $1.60 million during the quarter, compared to the consensus estimate of $2.77 million. Cytokinetics's revenue was up 89.1% compared to the same quarter last year. During the same quarter last year, the business posted ($1.33) EPS. As a group, analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Analyst Upgrades and Downgrades

CYTK has been the subject of a number of recent research reports. Stifel Nicolaus began coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They set a "buy" rating and a $80.00 price target for the company. Bank of America reduced their price objective on shares of Cytokinetics from $62.00 to $54.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Royal Bank of Canada dropped their price objective on shares of Cytokinetics from $82.00 to $80.00 and set an "outperform" rating on the stock in a report on Wednesday. UBS Group decreased their target price on shares of Cytokinetics from $47.00 to $41.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Finally, HC Wainwright reiterated a "buy" rating and issued a $120.00 target price on shares of Cytokinetics in a research note on Monday, April 21st. Three 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.44.

Insider Buying and Selling at Cytokinetics

In other news, EVP Andrew Callos sold 2,886 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $35.78, for a total transaction of $103,261.08. Following the transaction, the executive vice president now directly owns 64,689 shares in the company, valued at approximately $2,314,572.42. This trade represents a 4.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Fady Ibraham Malik sold 2,000 shares of the firm's 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 directly owns 116,071 shares of the company's stock, valued at approximately $5,336,944.58. This trade represents a 1.69% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,362 shares of company stock worth $3,899,118. Company insiders own 2.70% of the company's stock.

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.