Cytokinetics, Incorporated $CYTK Shares Bought by E. Ohman J or Asset Management AB

Key Points

• E. Ohman J or Asset Management AB increased its stake in Cytokinetics by 23.6%, owning 407,037 shares valued at approximately $13.45 million after purchasing additional shares in the 2nd quarter.
• Cytokinetics reported a quarterly EPS of ($1.12), outperforming the consensus estimate, with revenues increasing by 26,727.3% year-over-year, reaching $66.77 million.
• The stock price for Cytokinetics has decreased by 4.1%, and analysts have mixed opinions with target prices ranging from $53.00 to $84.00 following recent upgrades and downgrades.

E. Ohman J or Asset Management AB grew its position in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 23.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 407,037 shares of the biopharmaceutical company's stock after buying an additional 77,806 shares during the quarter. E. Ohman J or Asset Management AB owned approximately 0.34% of Cytokinetics worth $13,449,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CYTK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Cytokinetics by 0.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,658 shares of the biopharmaceutical company's stock worth $3,372,000 after buying an additional 659 shares during the period. ProShare Advisors LLC lifted its stake in Cytokinetics by 28.6% in the fourth quarter. ProShare Advisors LLC now owns 43,299 shares of the biopharmaceutical company's stock valued at $2,037,000 after acquiring an additional 9,620 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cytokinetics in the fourth quarter valued at approximately $87,000. Tema Etfs LLC acquired a new stake in Cytokinetics in the fourth quarter valued at approximately $2,229,000. Finally, Teza Capital Management LLC bought a new position in shares of Cytokinetics in the fourth quarter valued at approximately $446,000.

Insider Buying and Selling at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $51.29, for a total transaction of $102,580.00. Following the completion of the sale, the executive vice president owned 140,610 shares of the company's stock, valued at approximately $7,211,886.90. This trade represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert I. Blum sold 5,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $36.45, for a total value of $182,250.00. Following the completion of the transaction, the chief executive officer directly owned 388,108 shares of the company's stock, valued at approximately $14,146,536.60. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,756 shares of company stock valued at $1,105,140 in the last quarter. 3.40% of the stock is currently owned by insiders.

Cytokinetics Stock Down 4.1%

Cytokinetics stock opened at $51.13 on Monday. The company has a 50 day moving average of $39.45 and a 200-day moving average of $37.79. Cytokinetics, Incorporated has a twelve month low of $29.31 and a twelve month high of $59.39. The stock has a market capitalization of $6.12 billion, a PE ratio of -10.03 and a beta of 0.62.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.34) by $0.22. The company had revenue of $66.77 million for the quarter, compared to the consensus estimate of $1.95 million. The firm's revenue was up 26727.3% on a year-over-year basis. During the same period in the prior year, the company earned ($1.31) EPS. Equities analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CYTK shares. Barclays lifted their price target on shares of Cytokinetics from $53.00 to $71.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Mizuho dropped their target price on shares of Cytokinetics from $103.00 to $84.00 and set an "outperform" rating on the stock in a research report on Thursday, May 29th. Evercore ISI boosted their target price on shares of Cytokinetics from $60.00 to $80.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 3rd. Raymond James Financial began coverage on shares of Cytokinetics in a research report on Wednesday, July 30th. They set a "market perform" rating on the stock. Finally, JPMorgan Chase & Co. dropped their target price on shares of Cytokinetics from $71.00 to $53.00 and set an "overweight" rating on the stock in a research report on Monday, June 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $75.38.

Cytokinetics 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.

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