Allspring Global Investments Holdings LLC Has $216,000 Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Allspring Global Investments Holdings LLC decreased its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 93.1% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 5,763 shares of the biopharmaceutical company's stock after selling 78,258 shares during the period. Allspring Global Investments Holdings LLC's holdings in Cytokinetics were worth $216,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its holdings 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 worth $27,000 after purchasing an additional 374 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Cytokinetics in the 4th quarter worth about $254,000. AlphaQuest LLC raised its holdings in shares of 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 buying an additional 1,135 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Cytokinetics by 7.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,258 shares of the biopharmaceutical company's stock valued at $1,329,000 after buying an additional 1,882 shares during the period. Finally, Great Lakes Advisors LLC purchased a new stake in shares of Cytokinetics during the 4th quarter valued at about $1,580,000.

Insider Activity at Cytokinetics

In other news, EVP Andrew Callos sold 8,659 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $32.04, for a total value of $277,434.36. Following the completion of the sale, the executive vice president owned 52,028 shares in the company, valued at $1,666,977.12. This represents a 14.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Wendall Wierenga sold 20,000 shares of the company's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $38.46, for a total value of $769,200.00. Following the completion of the sale, the director owned 24,848 shares of the company's stock, valued at approximately $955,654.08. This trade represents a 44.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,751 shares of company stock worth $2,027,011 in the last ninety days. 3.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on CYTK. Citigroup lowered their price objective on Cytokinetics from $86.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. UBS Group lowered their price objective on Cytokinetics from $47.00 to $41.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Mizuho lowered their price objective on Cytokinetics from $103.00 to $84.00 and set an "outperform" rating for the company in a research note on Thursday, May 29th. JMP Securities restated a "market outperform" rating and set a $78.00 price objective on shares of Cytokinetics in a research note on Thursday, April 10th. Finally, HC Wainwright restated a "buy" rating and set a $120.00 price objective on shares of Cytokinetics in a research note on Monday, April 21st. 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 stock. Based on data from MarketBeat.com, Cytokinetics presently has an average rating of "Moderate Buy" and an average target price of $70.92.

Cytokinetics Trading Down 2.1%

CYTK traded down $0.79 during trading on Tuesday, reaching $37.79. 1,085,740 shares of the company were exchanged, compared to its average volume of 1,528,955. The stock has a market cap of $4.51 billion, a P/E ratio of -7.13 and a beta of 0.59. The firm has a 50 day moving average of $32.73 and a 200 day moving average of $40.07. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $61.38.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $1.60 million for the quarter, compared to analyst estimates of $2.77 million. During the same quarter last year, the firm posted ($1.33) EPS. The company's revenue was up 89.1% compared to the same quarter last year. As a group, analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share 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.