Cytokinetics, Incorporated $CYTK Stake Boosted by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Cytokinetics by 76.8% during Q4, owning 54,278 shares valued at about $3.45 million.
• Wall Street sentiment is broadly positive with an average rating of Moderate Buy and an average price target of $90.55, while several firms have recently raised their targets (Barclays to $95).
• Company insiders have been net sellers recently — executives disposed of 151,505 shares worth roughly $9.44 million in the past 90 days, including CEO Robert I. Blum's 7,500-share sale under a Rule 10b5-1 plan.

Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 76.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,278 shares of the biopharmaceutical company's stock after acquiring an additional 23,571 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH's holdings in Cytokinetics were worth $3,449,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. TD Waterhouse Canada Inc. purchased a new position in shares of Cytokinetics during the 4th quarter valued at $32,000. Quarry LP purchased a new position in shares of Cytokinetics during the 3rd quarter valued at $30,000. Advisory Services Network LLC purchased a new position in shares of Cytokinetics during the 3rd quarter valued at $32,000. Johnson Financial Group Inc. acquired a new stake in shares of Cytokinetics in the 3rd quarter valued at $40,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Cytokinetics by 723.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company's stock valued at $25,000 after purchasing an additional 673 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CYTK. Needham & Company LLC lifted their price objective on shares of Cytokinetics from $84.00 to $85.00 and gave the company a "buy" rating in a research note on Wednesday, February 25th. Morgan Stanley set a $90.00 price objective on shares of Cytokinetics in a research note on Thursday, January 8th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $90.00 price objective on shares of Cytokinetics in a research note on Friday, January 9th. Bank of America reaffirmed a "neutral" rating on shares of Cytokinetics in a research note on Wednesday, February 25th. Finally, Barclays lifted their price objective on shares of Cytokinetics from $87.00 to $95.00 and gave the company an "overweight" rating in a research note on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $90.55.

Cytokinetics Stock Performance

Shares of NASDAQ:CYTK opened at $59.58 on Thursday. The stock's 50-day moving average is $63.89 and its 200-day moving average is $63.48. The company has a market cap of $7.40 billion, a P/E ratio of -9.12 and a beta of 0.47. Cytokinetics, Incorporated has a 52-week low of $29.31 and a 52-week high of $70.98.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its earnings results on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.48) by ($0.02). The company had revenue of $17.76 million during the quarter, compared to analysts' expectations of $8.02 million. During the same period last year, the firm posted ($1.26) EPS. The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities analysts predict that Cytokinetics, Incorporated will post -6.22 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Robert I. Blum sold 7,500 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $59.62, for a total transaction of $447,150.00. Following the completion of the sale, the chief executive officer owned 407,830 shares in the company, valued at $24,314,824.60. This represents a 1.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Callos sold 7,449 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $66.02, for a total value of $491,782.98. Following the sale, the executive vice president owned 58,555 shares of the company's stock, valued at approximately $3,865,801.10. The trade was a 11.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 151,505 shares of company stock worth $9,443,940 in the last 90 days. 2.70% of the stock is owned by company insiders.

Cytokinetics Profile

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company's most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.

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