Brown Advisory Inc. Grows Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

Brown Advisory Inc. boosted its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,086,300 shares of the biopharmaceutical company's stock after buying an additional 9,869 shares during the period. Brown Advisory Inc. owned approximately 0.91% of Cytokinetics worth $43,658,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Fifth Third Bancorp grew its position in Cytokinetics by 42.2% during the first quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company's stock valued at $39,000 after buying an additional 291 shares during the period. State of Alaska Department of Revenue grew its position in shares of Cytokinetics by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 13,820 shares of the biopharmaceutical company's stock valued at $555,000 after acquiring an additional 365 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Cytokinetics by 189.8% in the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 374 shares in the last quarter. GF Fund Management CO. LTD. raised its holdings in Cytokinetics by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 3,021 shares of the biopharmaceutical company's stock worth $121,000 after purchasing an additional 543 shares during the period. Finally, UMB Bank n.a. raised its holdings in Cytokinetics by 91.4% in the 1st quarter. UMB Bank n.a. now owns 1,156 shares of the biopharmaceutical company's stock worth $46,000 after purchasing an additional 552 shares during the period.

Cytokinetics Stock Performance

CYTK stock traded up $2.38 during midday trading on Wednesday, reaching $36.63. The company's stock had a trading volume of 2,567,451 shares, compared to its average volume of 1,528,253. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of -6.92 and a beta of 0.59. Cytokinetics, Incorporated has a 1 year low of $29.31 and a 1 year high of $61.38. The stock has a fifty day simple moving average of $32.98 and a two-hundred day simple moving average of $40.38.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted 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 during the quarter, compared to analysts' expectations of $2.77 million. The company's quarterly revenue was up 89.1% on a year-over-year basis. During the same period in the prior year, the business earned ($1.33) EPS. As a group, analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CYTK has been the subject of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of Cytokinetics from $71.00 to $53.00 and set an "overweight" rating for the company in a report on Monday, June 9th. HC Wainwright reaffirmed a "buy" rating and issued a $120.00 price objective on shares of Cytokinetics in a research note on Monday, April 21st. Bank of America cut their target price on shares of Cytokinetics from $62.00 to $54.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. JMP Securities reaffirmed a "market outperform" rating and set a $78.00 price target on shares of Cytokinetics in a research note on Thursday, April 10th. Finally, Barclays lowered their price objective on shares of Cytokinetics from $55.00 to $53.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $70.92.

Insider Buying and Selling

In other Cytokinetics news, Director Wendall Wierenga sold 20,000 shares of Cytokinetics stock in a transaction on Monday, April 21st. The stock was sold at an average price of $38.46, for a total transaction of $769,200.00. Following the completion of the sale, the director directly owned 24,848 shares of the company's stock, valued at $955,654.08. The trade was a 44.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Edward M. Md Kaye sold 3,636 shares of Cytokinetics stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $32.10, for a total value of $116,715.60. Following the completion of the sale, the director owned 29,658 shares of the company's stock, valued at $952,021.80. The trade was a 10.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,941 shares of company stock valued at $2,334,186 over the last 90 days. 3.40% of the stock is owned by insiders.

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.