Jefferies Financial Group Inc. Reduces Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

Jefferies Financial Group Inc. lessened its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 98.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,600 shares of the biopharmaceutical company's stock after selling 1,176,400 shares during the period. Jefferies Financial Group Inc.'s holdings in Cytokinetics were worth $593,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CYTK. Jones Financial Companies Lllp increased its stake in shares of Cytokinetics by 189.8% during the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 374 shares during the period. Centricity Wealth Management LLC bought a new stake in Cytokinetics in the fourth quarter valued at $29,000. AlphaQuest LLC increased its position in Cytokinetics by 113,500.0% during the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 1,135 shares during the period. J.Safra Asset Management Corp raised its holdings in Cytokinetics by 62.1% in the 4th quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company's stock worth $83,000 after purchasing an additional 671 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Cytokinetics by 85.8% in the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company's stock worth $86,000 after purchasing an additional 842 shares in the last quarter.

Cytokinetics Stock Down 4.2%

Shares of Cytokinetics stock traded down $1.36 on Wednesday, reaching $31.30. The company's stock had a trading volume of 1,427,814 shares, compared to its average volume of 1,688,103. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $61.38. The firm's fifty day simple moving average is $38.38 and its two-hundred day simple moving average is $44.96. 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 company has a market capitalization of $3.74 billion, a price-to-earnings ratio of -5.81 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) EPS for the quarter, beating the consensus estimate of ($1.41) by $0.05. The business had revenue of $1.60 million for the quarter, compared to analysts' expectations of $2.77 million. During the same period last year, the business earned ($1.33) earnings per share. The company's quarterly revenue was up 89.1% on a year-over-year basis. Equities analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Insider Activity

In other news, EVP Andrew Callos sold 3,341 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $43.27, for a total value of $144,565.07. Following the transaction, the executive vice president now directly owns 64,434 shares in the company, valued at $2,788,059.18. This trade represents a 4.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Wendall Wierenga sold 20,000 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $38.46, for a total transaction of $769,200.00. Following the completion of the transaction, the director now owns 24,848 shares in the company, valued at $955,654.08. The trade was a 44.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 94,816 shares of company stock valued at $3,850,385 in the last 90 days. 2.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Stifel Nicolaus assumed coverage on Cytokinetics in a report on Wednesday, January 22nd. They issued a "buy" rating and a $80.00 price objective for the company. UBS Group reduced their target price on shares of Cytokinetics from $47.00 to $41.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC reissued a "buy" rating and set a $72.00 price target on shares of Cytokinetics in a research report on Wednesday, May 14th. 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. Finally, Royal Bank of Canada decreased their target price on shares of Cytokinetics from $82.00 to $80.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $74.44.

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.