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

Brown Advisory Inc. grew its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 0.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,086,300 shares of the biopharmaceutical company's stock after buying an additional 9,869 shares during the quarter. Brown Advisory Inc. owned 0.91% of Cytokinetics worth $43,658,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CYTK. Jones Financial Companies Lllp boosted its holdings 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 valued at $27,000 after purchasing an additional 374 shares during the period. Fifth Third Bancorp increased its position in shares of Cytokinetics by 42.2% during the first quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company's stock worth $39,000 after purchasing an additional 291 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Cytokinetics by 500.5% in the 1st quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company's stock valued at $44,000 after acquiring an additional 916 shares during the period. GAMMA Investing LLC increased its position in shares of Cytokinetics by 281.0% in the 1st quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company's stock valued at $45,000 after acquiring an additional 826 shares during the period. Finally, UMB Bank n.a. increased its position in shares of Cytokinetics by 91.4% in the 1st quarter. UMB Bank n.a. now owns 1,156 shares of the biopharmaceutical company's stock valued at $46,000 after acquiring an additional 552 shares during the period.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Cantor Fitzgerald raised Cytokinetics to a "strong-buy" rating in a research report on Tuesday, May 13th. Citigroup lowered their target price on shares of Cytokinetics from $86.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Mizuho lowered their target price on shares of Cytokinetics from $103.00 to $84.00 and set an "outperform" rating on the stock in a research note on Thursday, May 29th. HC Wainwright reissued a "buy" rating and set a $120.00 target price on shares of Cytokinetics in a research note on Monday, April 21st. Finally, UBS Group lowered their target price on shares of Cytokinetics from $47.00 to $41.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Three investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $70.92.

Cytokinetics Price Performance

Cytokinetics stock traded up $0.42 during midday trading on Friday, reaching $37.01. The company had a trading volume of 960,448 shares, compared to its average volume of 1,530,089. The company has a market capitalization of $4.42 billion, a P/E ratio of -7.00 and a beta of 0.59. Cytokinetics, Incorporated has a 12-month low of $29.31 and a 12-month high of $61.38. The firm's fifty day simple moving average is $32.73 and its 200-day simple moving average is $40.13.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, topping analysts' consensus estimates of ($1.41) by $0.05. The business had revenue of $1.60 million during the quarter, compared to analysts' expectations of $2.77 million. During the same period last year, the business earned ($1.33) earnings per share. The company's revenue for the quarter was up 89.1% compared to the same quarter last year. On average, analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Andrew Callos sold 8,659 shares of Cytokinetics stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $32.04, for a total transaction of $277,434.36. Following the sale, the executive vice president owned 52,028 shares of the company's stock, valued at approximately $1,666,977.12. The trade was a 14.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John T. Henderson sold 3,190 shares of Cytokinetics stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $38.66, for a total transaction of $123,325.40. Following the sale, the director directly owned 66,348 shares in the company, valued at approximately $2,565,013.68. The trade was a 4.59% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,941 shares of company stock worth $2,150,336. 2.70% of the stock is currently owned by insiders.

About Cytokinetics

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.