CANADA LIFE ASSURANCE Co Decreases Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

CANADA LIFE ASSURANCE Co lowered its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 14.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,460 shares of the biopharmaceutical company's stock after selling 12,680 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.06% of Cytokinetics worth $3,593,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of 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 acquiring an additional 154,216 shares in the last quarter. Marshall Wace LLP grew its stake in Cytokinetics by 14.9% in the fourth 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 last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Cytokinetics by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,335,189 shares of the biopharmaceutical company's stock valued at $62,807,000 after buying an additional 13,798 shares during the last quarter. Norges Bank bought a new stake in shares of Cytokinetics in the 4th quarter valued at about $46,556,000. Finally, Fisher Asset Management LLC grew its position in shares of Cytokinetics by 13.7% in the 4th quarter. Fisher Asset Management LLC now owns 616,492 shares of the biopharmaceutical company's stock worth $29,000,000 after buying an additional 74,208 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. JMP Securities reiterated a "market outperform" rating and set a $78.00 price objective on shares of Cytokinetics in a report on Thursday, April 10th. Evercore ISI raised shares of Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. Needham & Company LLC reiterated a "buy" rating and set a $72.00 price target on shares of Cytokinetics in a research report on Tuesday, April 8th. Morgan Stanley set a $67.00 target price on shares of Cytokinetics in a research note on Friday, March 7th. Finally, Stifel Nicolaus assumed 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. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cytokinetics presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.13.

Insider Buying and Selling at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction dated 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 of the company's stock, valued at $5,336,944.58. This represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Andrew Callos sold 2,886 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $35.78, for a total transaction of $103,261.08. Following the completion of the sale, the executive vice president now owns 64,689 shares of the company's stock, valued at approximately $2,314,572.42. The trade was a 4.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,360 shares of company stock worth $3,848,445. 3.40% of the stock is currently owned by insiders.

Cytokinetics Stock Up 0.0 %

NASDAQ:CYTK traded up $0.00 during midday trading on Thursday, hitting $42.84. 183,751 shares of the company were exchanged, compared to its average volume of 1,599,297. The company has a fifty day simple moving average of $41.64 and a 200 day simple moving average of $46.94. The company has a market capitalization of $5.11 billion, a PE ratio of -7.98 and a beta of 0.94. Cytokinetics, Incorporated has a fifty-two week low of $32.74 and a fifty-two week high of $68.44. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, beating analysts' consensus estimates of ($1.29) by $0.03. The business had revenue of $16.93 million during the quarter, compared to analyst estimates of $14.26 million. As a group, equities analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

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.