Envestnet Asset Management Inc. Sells 6,612 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Envestnet Asset Management Inc. lowered its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 20.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,455 shares of the biopharmaceutical company's stock after selling 6,612 shares during the period. Envestnet Asset Management Inc.'s holdings in Cytokinetics were worth $1,244,000 as of its most recent SEC filing.

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

Insider Activity at Cytokinetics

In related news, EVP Andrew Callos sold 3,341 shares of the company's stock in a transaction 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 transaction, the executive vice president now directly owns 64,434 shares of the company's stock, valued at approximately $2,788,059.18. This represents a 4.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert I. Blum sold 16,970 shares of Cytokinetics stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $43.44, for a total value of $737,176.80. Following the completion of the sale, the chief executive officer now directly owns 364,181 shares in the company, valued at $15,820,022.64. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 93,360 shares of company stock worth $3,848,445. 3.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CYTK has been the subject of several recent analyst reports. Morgan Stanley set a $67.00 price objective on shares of Cytokinetics in a report on Friday, March 7th. Evercore ISI raised Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. HC Wainwright reissued a "buy" rating and issued a $120.00 price objective on shares of Cytokinetics in a research note on Monday, April 21st. Barclays started coverage on Cytokinetics in a research note on Thursday, April 24th. They issued an "overweight" rating and a $55.00 target price for the company. Finally, Stifel Nicolaus began coverage on shares of Cytokinetics in a research report on Wednesday, January 22nd. They set a "buy" rating and a $80.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $76.88.

Cytokinetics Trading Down 13.0 %

Shares of NASDAQ:CYTK traded down $5.57 during mid-day trading on Friday, reaching $37.35. The stock had a trading volume of 9,030,417 shares, compared to its average volume of 1,640,972. The firm has a market cap of $4.45 billion, a PE ratio of -6.94 and a beta of 0.94. The firm has a 50 day simple moving average of $41.35 and a two-hundred day simple moving average of $46.74. 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, Incorporated has a twelve month low of $32.74 and a twelve month high of $68.44.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $16.93 million during the quarter, compared to the consensus estimate of $14.26 million. On average, research analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Cytokinetics Company 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.