Voya Investment Management LLC Has $2.24 Million Position in Cytokinetics, Incorporated $CYTK

Key Points

• Voya Investment Management LLC reduced its stake in Cytokinetics by 30.6%, owning 55,846 shares valued at $2.24 million after selling 24,617 shares in the first quarter.
• Cytokinetics reported a significant quarterly revenue of $66.77 million, vastly exceeding analyst expectations, with a 26727.3% year-over-year increase.
• Analysts have a consensus rating of "Moderate Buy" for Cytokinetics stock, with an average target price of $75.38, reflecting positive sentiment despite recent share sell-offs.

Voya Investment Management LLC decreased its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 30.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,846 shares of the biopharmaceutical company's stock after selling 24,617 shares during the period. Voya Investment Management LLC's holdings in Cytokinetics were worth $2,244,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp raised its holdings in shares of Cytokinetics by 42.2% during the 1st quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company's stock valued at $39,000 after purchasing an additional 291 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Cytokinetics by 500.5% during the 1st quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company's stock valued at $44,000 after purchasing an additional 916 shares in the last quarter. GAMMA Investing LLC raised 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 valued at $45,000 after purchasing an additional 826 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Cytokinetics by 91.4% during the 1st quarter. UMB Bank n.a. now owns 1,156 shares of the biopharmaceutical company's stock valued at $46,000 after purchasing an additional 552 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Cytokinetics by 11,510.0% during the 1st quarter. Assetmark Inc. now owns 1,161 shares of the biopharmaceutical company's stock valued at $47,000 after purchasing an additional 1,151 shares in the last quarter.

Insider Buying and Selling

In related news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $49.77, for a total transaction of $248,850.00. Following the sale, the chief executive officer directly owned 373,108 shares in the company, valued at $18,569,585.16. This represents a 1.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward M. Md Kaye sold 6,756 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $50.00, for a total value of $337,800.00. Following the completion of the transaction, the director owned 23,230 shares in the company, valued at $1,161,500. The trade was a 22.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,756 shares of company stock worth $1,353,990 in the last three months. Insiders own 3.40% of the company's stock.

Cytokinetics Price Performance

Shares of Cytokinetics stock traded down $0.41 during trading on Monday, hitting $48.25. 1,951,345 shares of the company's stock traded hands, compared to its average volume of 3,186,301. The firm's fifty day moving average price is $40.98 and its 200 day moving average price is $38.00. Cytokinetics, Incorporated has a twelve month low of $29.31 and a twelve month high of $59.39. The company has a market cap of $5.77 billion, a PE ratio of -9.46 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, beating analysts' consensus estimates 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% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.31) earnings per share. As a group, equities research analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CYTK. Stifel Nicolaus raised their price target on shares of Cytokinetics from $87.00 to $96.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. JPMorgan Chase & Co. cut their price target on shares of Cytokinetics from $71.00 to $53.00 and set an "overweight" rating on the stock in a report on Monday, June 9th. HC Wainwright restated a "buy" rating and set a $120.00 price target on shares of Cytokinetics in a report on Monday. JMP Securities reiterated a "market outperform" rating and issued a $78.00 target price on shares of Cytokinetics in a research note on Tuesday, September 2nd. Finally, Evercore ISI raised their target price on shares of Cytokinetics from $60.00 to $80.00 and gave the company an "outperform" rating in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $75.71.

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.