Banque Pictet & Cie SA Invests $330,000 in Cytokinetics, Incorporated (NASDAQ:CYTK)

Banque Pictet & Cie SA bought a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,203 shares of the biopharmaceutical company's stock, valued at approximately $330,000.

Several other institutional investors have also added to or reduced their stakes in CYTK. Raymond James Financial Inc. bought a new position in shares of Cytokinetics during the 4th quarter worth approximately $254,000. AlphaQuest LLC boosted 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 worth $53,000 after buying an additional 1,135 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Cytokinetics by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company's stock worth $560,520,000 after buying an additional 154,216 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cytokinetics by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,335,189 shares of the biopharmaceutical company's stock worth $62,807,000 after buying an additional 13,798 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Cytokinetics by 281.0% during the 1st quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company's stock worth $45,000 after buying an additional 826 shares in the last quarter.

Analyst Ratings Changes

CYTK has been the topic of a number of research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 target price on shares of Cytokinetics in a research report on Wednesday, May 14th. Barclays lowered their target price on Cytokinetics from $55.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. 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 report on Tuesday, April 15th. JPMorgan Chase & Co. lowered their target price on Cytokinetics from $71.00 to $53.00 and set an "overweight" rating on the stock in a research report on Monday, June 9th. Finally, JMP Securities reissued a "market outperform" rating and issued a $78.00 price target on shares of Cytokinetics in a research report on Thursday, April 10th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.92.

Insider Activity at Cytokinetics

In other Cytokinetics news, EVP Andrew Callos sold 8,659 shares of the business's stock in a transaction that occurred 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 approximately $1,666,977.12. The trade was a 14.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edward M. Md Kaye sold 3,636 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $32.10, for a total value of $116,715.60. Following the completion of the sale, the director owned 29,658 shares of the company's stock, valued at $952,021.80. The trade was a 10.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,941 shares of company stock worth $2,150,336 in the last quarter. 3.40% of the stock is owned by company insiders.

Cytokinetics Stock Up 4.2%

Shares of NASDAQ CYTK traded up $1.57 during trading hours on Monday, reaching $38.58. 1,615,347 shares of the stock traded hands, compared to its average volume of 1,530,430. The company has a market capitalization of $4.61 billion, a P/E ratio of -7.29 and a beta of 0.59. Cytokinetics, Incorporated has a 52-week low of $29.31 and a 52-week high of $61.38. The company's 50-day simple moving average is $32.73 and its two-hundred day simple moving average is $40.07.

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

About Cytokinetics

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.