J. Safra Sarasin Holding AG Purchases 14,764 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Key Points

• J. Safra Sarasin Holding AG has increased its stake in Cytokinetics by 113.3%, acquiring an additional 14,764 shares, bringing its total holdings to 27,791 shares valued at approximately $1.12 million.
• During the first quarter, several institutional investors significantly raised their positions in Cytokinetics, including Parallel Advisors LLC with a growth of 500.5%, reflecting increased institutional interest in the company.
• Cytokinetics reported an EPS of ($1.36), beating analysts' expectations despite revenues falling short of forecasts, indicating ongoing challenges in meeting revenue targets.

J. Safra Sarasin Holding AG increased its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 113.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,791 shares of the biopharmaceutical company's stock after acquiring an additional 14,764 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Cytokinetics were worth $1,117,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of Cytokinetics during the 4th quarter worth about $254,000. GAMMA Investing LLC raised its stake in shares of Cytokinetics by 281.0% during the first 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 during the period. Two Sigma Advisers LP grew its position in shares of Cytokinetics by 5.4% during the fourth quarter. Two Sigma Advisers LP now owns 226,400 shares of the biopharmaceutical company's stock worth $10,650,000 after buying an additional 11,700 shares in the last quarter. RFG Advisory LLC acquired a new stake in shares of Cytokinetics during the first quarter worth approximately $1,286,000. Finally, Mirador Capital Partners LP grew its position in shares of Cytokinetics by 51.0% during the first quarter. Mirador Capital Partners LP now owns 99,125 shares of the biopharmaceutical company's stock worth $3,984,000 after buying an additional 33,489 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CYTK shares. HC Wainwright reiterated a "buy" rating and set a $120.00 target price on shares of Cytokinetics in a research note on Monday, April 21st. Needham & Company LLC reaffirmed a "buy" rating and issued a $72.00 price objective on shares of Cytokinetics in a report on Wednesday, May 14th. UBS Group reduced their price objective on shares of Cytokinetics from $47.00 to $41.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Barclays dropped their price target on shares of Cytokinetics from $55.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Finally, Raymond James Financial assumed coverage on shares of Cytokinetics in a research report on Wednesday, July 30th. They issued a "market perform" rating on the stock. Four 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $70.92.

Insider Buying and Selling

In other news, Director Muna Bhanji sold 1,454 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $29.73, for a total value of $43,227.42. Following the transaction, the director owned 23,510 shares in the company, valued at $698,952.30. This represents a 5.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Fady Ibraham Malik sold 2,000 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $37.47, for a total value of $74,940.00. Following the completion of the transaction, the executive vice president owned 140,610 shares in the company, valued at $5,268,656.70. This represents a 1.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,749 shares of company stock worth $1,277,937 over the last ninety days. 3.40% of the stock is currently owned by corporate insiders.

Cytokinetics Price Performance

NASDAQ CYTK traded down $0.11 on Monday, hitting $36.58. 1,612,707 shares of the company were exchanged, compared to its average volume of 1,334,318. The company's 50 day moving average price is $34.53 and its 200-day moving average price is $38.96. The firm has a market capitalization of $4.37 billion, a P/E ratio of -6.91 and a beta of 0.64. Cytokinetics, Incorporated has a twelve month low of $29.31 and a twelve month high of $59.39.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.41) by $0.05. The company had revenue of $1.60 million for the quarter, compared to analyst estimates of $2.77 million. Cytokinetics's quarterly revenue was up 89.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.33) EPS. As a group, equities analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

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.