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

The Manufacturers Life Insurance Company decreased 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 Securities and Exchange Commission. The fund 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Retirement Systems of Alabama raised its position in Cytokinetics by 1.0% in the third quarter. Retirement Systems of Alabama now owns 142,930 shares of the biopharmaceutical company's stock valued at $7,547,000 after purchasing an additional 1,414 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Cytokinetics by 6.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 45,130 shares of the biopharmaceutical company's stock valued at $2,123,000 after buying an additional 2,604 shares during the period. Mirador Capital Partners LP lifted its position in Cytokinetics by 1.6% in the fourth quarter. Mirador Capital Partners LP now owns 65,636 shares of the biopharmaceutical company's stock valued at $3,088,000 after buying an additional 1,010 shares during the last quarter. Inspire Investing LLC lifted its position in Cytokinetics by 7.8% in the fourth quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company's stock valued at $400,000 after buying an additional 616 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Cytokinetics by 85.8% during the fourth quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company's stock worth $86,000 after buying an additional 842 shares during the period.

Insiders Place Their Bets

In related news, CEO Robert I. Blum sold 16,970 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $43.44, for a total transaction of $737,176.80. Following the transaction, the chief executive officer now owns 364,181 shares in the company, valued at $15,820,022.64. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Andrew Callos sold 3,341 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $43.27, for a total value of $144,565.07. Following the completion of the sale, the executive vice president now directly owns 64,434 shares of the company's stock, valued at $2,788,059.18. The trade was a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,362 shares of company stock valued at $3,899,118. 2.70% of the stock is currently owned by insiders.

Cytokinetics Stock Down 2.4 %

CYTK stock traded down $0.79 during trading on Friday, hitting $31.69. 1,037,661 shares of the company's stock were exchanged, compared to its average volume of 1,667,581. The business has a 50-day moving average price of $40.18 and a two-hundred day moving average price of $46.01. 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 capitalization of $3.78 billion, a price-to-earnings 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 $64.61.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its earnings results 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 previous year, the company posted ($1.33) EPS. The company's quarterly revenue was up 89.1% on a year-over-year basis. As a group, equities research analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CYTK. JMP Securities restated a "market outperform" rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Thursday, April 10th. Morgan Stanley set a $67.00 price target on Cytokinetics in a research report on Friday, March 7th. Citigroup cut their price objective on Cytokinetics from $86.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday. Evercore ISI upgraded Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. Finally, UBS Group dropped their target price on Cytokinetics from $47.00 to $41.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Three investment 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. Based on data from MarketBeat, Cytokinetics currently has an average rating of "Moderate Buy" and an average target price 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.