Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers cut its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 82.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,551 shares of the biopharmaceutical company's stock after selling 21,484 shares during the quarter. Cetera Investment Advisers' holdings in Cytokinetics were worth $214,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its position in shares of Cytokinetics by 189.8% in the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 374 shares during the period. Retirement Systems of Alabama raised its position in shares of Cytokinetics by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company's stock worth $6,750,000 after purchasing an additional 565 shares during the last quarter. Arizona State Retirement System raised its position in shares of Cytokinetics by 1.9% during the 4th quarter. Arizona State Retirement System now owns 32,366 shares of the biopharmaceutical company's stock worth $1,522,000 after purchasing an additional 600 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Cytokinetics during the 4th quarter worth about $29,000. Finally, J.Safra Asset Management Corp raised 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 during the last quarter.

Cytokinetics Stock Down 1.0%

NASDAQ:CYTK traded down $0.33 during midday trading on Thursday, hitting $32.08. 1,019,906 shares of the company were exchanged, compared to its average volume of 1,567,076. The company has a fifty day simple moving average of $35.34 and a 200 day simple moving average of $43.08. Cytokinetics, Incorporated has a fifty-two week low of $29.31 and a fifty-two week high of $61.38. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The company has a market capitalization of $3.83 billion, a PE ratio of -5.96 and a beta of 0.59.

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

Analysts Set New Price Targets

A number of analysts have commented on the stock. Cantor Fitzgerald upgraded shares of Cytokinetics to a "strong-buy" rating in a report on Tuesday, May 13th. Morgan Stanley set a $67.00 price target on shares of Cytokinetics in a research note on Friday, March 7th. Barclays dropped their price target on shares of Cytokinetics from $55.00 to $53.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Needham & Company LLC reissued a "buy" rating and issued a $72.00 price target on shares of Cytokinetics in a research note on Wednesday, May 14th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $78.00 price objective on shares of Cytokinetics in a research report on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $72.31.

Insider Buying and Selling

In other Cytokinetics news, Director Muna Bhanji sold 1,454 shares of Cytokinetics stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $29.73, for a total value of $43,227.42. Following the transaction, the director now directly owns 23,510 shares in the company, valued at approximately $698,952.30. The trade was a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew Callos sold 2,775 shares of Cytokinetics stock in a transaction on Monday, March 17th. The shares were sold at an average price of $44.38, for a total transaction of $123,154.50. Following the completion of the transaction, the executive vice president now owns 34,888 shares in the company, valued at approximately $1,548,329.44. This represents a 7.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 91,800 shares of company stock worth $3,518,893 in the last ninety days. 3.40% of the stock is owned by corporate insiders.

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.