BNP Paribas Financial Markets Reduces Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

BNP Paribas Financial Markets cut its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 38.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,647 shares of the biopharmaceutical company's stock after selling 15,645 shares during the quarter. BNP Paribas Financial Markets' holdings in Cytokinetics were worth $1,159,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CYTK. Inspire Investing LLC increased its holdings in shares of Cytokinetics by 7.8% during the 4th quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company's stock worth $400,000 after acquiring an additional 616 shares during the last quarter. Blue Trust Inc. grew its holdings in Cytokinetics by 85.8% in the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company's stock valued at $86,000 after buying an additional 842 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Cytokinetics by 2.9% in the 4th quarter. Pacer Advisors Inc. now owns 24,843 shares of the biopharmaceutical company's stock valued at $1,169,000 after buying an additional 690 shares in the last quarter. R Squared Ltd acquired a new position in Cytokinetics in the 4th quarter valued at $133,000. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Cytokinetics by 10.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 25,023 shares of the biopharmaceutical company's stock valued at $1,177,000 after buying an additional 2,393 shares in the last quarter.

Cytokinetics Stock Up 0.2%

NASDAQ:CYTK traded up $0.05 on Friday, hitting $30.54. The stock had a trading volume of 1,789,501 shares, compared to its average volume of 1,620,482. The business's fifty day moving average is $37.58 and its 200 day moving average is $44.41. The company has a market cap of $3.65 billion, a PE ratio of -5.68 and a beta of 0.81. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. 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 issued its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.41) by $0.05. The firm had revenue of $1.60 million during the quarter, compared to the consensus estimate of $2.77 million. During the same quarter in the previous year, the firm earned ($1.33) earnings per share. The business's quarterly revenue was up 89.1% compared to the same quarter last year. On average, equities research analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Muna Bhanji sold 1,454 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $29.73, for a total value of $43,227.42. Following the completion of the transaction, the director now owns 23,510 shares of the company's stock, valued at approximately $698,952.30. This represents a 5.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew Callos sold 2,775 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $44.38, for a total value of $123,154.50. Following the transaction, the executive vice president now directly owns 34,888 shares of the company's stock, valued at approximately $1,548,329.44. This trade represents a 7.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 94,816 shares of company stock worth $3,850,385 over the last ninety days. 2.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CYTK. UBS Group decreased their price objective on Cytokinetics from $47.00 to $41.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Barclays decreased their price objective on Cytokinetics from $55.00 to $53.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. JMP Securities reiterated a "market outperform" rating and set a $78.00 target price on shares of Cytokinetics in a research report on Thursday, April 10th. HC Wainwright reiterated a "buy" rating and set a $120.00 target price on shares of Cytokinetics in a research report on Monday, April 21st. Finally, Evercore ISI upgraded Cytokinetics to a "strong-buy" rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $74.73.

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.