E. Ohman J or Asset Management AB Buys New Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

E. Ohman J or Asset Management AB purchased a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 329,231 shares of the biopharmaceutical company's stock, valued at approximately $13,232,000. E. Ohman J or Asset Management AB owned approximately 0.28% of Cytokinetics as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp increased its stake in shares of 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 purchasing an additional 374 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in Cytokinetics in the 4th quarter worth about $29,000. Parallel Advisors LLC boosted its holdings in Cytokinetics by 500.5% in the 1st quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company's stock worth $44,000 after buying an additional 916 shares during the last quarter. AlphaQuest LLC boosted its holdings in 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 buying an additional 1,135 shares during the last quarter. Finally, J.Safra Asset Management Corp boosted 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 buying an additional 671 shares during the last quarter.

Insiders Place Their Bets

In other news, CEO Robert I. Blum sold 12,648 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $44.38, for a total transaction of $561,318.24. Following the sale, the chief executive officer now owns 326,533 shares of the company's stock, valued at approximately $14,491,534.54. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward M. Md Kaye sold 3,636 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $32.10, for a total value of $116,715.60. Following the sale, the director now directly owns 29,658 shares in the company, valued at $952,021.80. This represents a 10.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,800 shares of company stock worth $3,518,893 over the last ninety days. Corporate insiders own 3.40% of the company's stock.

Cytokinetics Trading Up 0.7%

NASDAQ:CYTK traded up $0.22 during trading hours on Friday, reaching $32.30. 765,773 shares of the stock were exchanged, compared to its average volume of 1,558,072. 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 business has a 50-day moving average of $35.24 and a two-hundred day moving average of $42.95. Cytokinetics, Incorporated has a twelve month low of $29.31 and a twelve month high of $61.38. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of -6.00 and a beta of 0.59.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, topping analysts' consensus estimates of ($1.41) by $0.05. The firm had revenue of $1.60 million for the quarter, compared to analyst estimates of $2.77 million. During the same quarter last year, the company earned ($1.33) earnings per share. The firm's revenue for the quarter was up 89.1% on a year-over-year basis. On average, equities analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CYTK shares. Evercore ISI upgraded Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. UBS Group lowered their target price on Cytokinetics from $47.00 to $41.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Mizuho lowered their target price on Cytokinetics from $103.00 to $84.00 and set an "outperform" rating on the stock in a report on Thursday, May 29th. JMP Securities restated a "market outperform" rating and set a $78.00 target price on shares of Cytokinetics in a report on Thursday, April 10th. Finally, Barclays lowered their target price on Cytokinetics from $55.00 to $53.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $72.31.

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.