Janus Henderson Group PLC Reduces Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Janus Henderson Group PLC decreased its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 10.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,024,417 shares of the biopharmaceutical company's stock after selling 119,413 shares during the quarter. Janus Henderson Group PLC owned 0.87% of Cytokinetics worth $48,182,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Deep Track Capital LP grew its position in Cytokinetics by 296.9% in the 4th quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company's stock worth $117,600,000 after purchasing an additional 1,870,094 shares in the last quarter. Capital International Investors bought a new position in shares of Cytokinetics in the fourth quarter valued at approximately $51,564,000. T. Rowe Price Investment Management Inc. increased its position in shares of Cytokinetics by 11.0% during 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 acquiring an additional 1,062,136 shares during the last quarter. Norges Bank bought a new stake in Cytokinetics during the fourth quarter worth $46,556,000. Finally, Groupama Asset Managment bought a new position in Cytokinetics in the 4th quarter valued at $16,464,000.

Cytokinetics Price Performance

Shares of NASDAQ CYTK traded down $0.20 during midday trading on Monday, hitting $30.81. 373,908 shares of the company's stock were exchanged, compared to its average volume of 1,676,285. 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 business's fifty day moving average price is $38.88 and its two-hundred day moving average price is $45.19. The company has a market cap of $3.68 billion, a price-to-earnings ratio of -5.72 and a beta of 0.81. Cytokinetics, Incorporated has a 12-month low of $29.31 and a 12-month high of $61.40.

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

Insiders Place Their Bets

In other news, EVP Fady Ibraham Malik sold 2,000 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $45.98, for a total transaction of $91,960.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew Callos sold 3,341 shares of the business's stock in a transaction dated 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 approximately $2,788,059.18. This trade represents a 4.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,816 shares of company stock valued at $3,942,345 over the last 90 days. Insiders own 2.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CYTK shares. Bank of America lowered their target price on Cytokinetics from $62.00 to $54.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Needham & Company LLC reissued a "buy" rating and set a $72.00 target price on shares of Cytokinetics in a research report on Wednesday, May 14th. UBS Group lowered their price target on shares of Cytokinetics from $47.00 to $41.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Stifel Nicolaus started coverage on Cytokinetics in a report on Wednesday, January 22nd. They set a "buy" rating and a $80.00 price objective for the company. Finally, Morgan Stanley set a $67.00 target price on Cytokinetics in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.