Jefferies Financial Group Inc. Decreases Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Jefferies Financial Group Inc. trimmed its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 98.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,600 shares of the biopharmaceutical company's stock after selling 1,176,400 shares during the period. Jefferies Financial Group Inc.'s holdings in Cytokinetics were worth $593,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Blue Trust Inc. increased its stake in shares of Cytokinetics by 85.8% during the fourth quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company's stock worth $86,000 after purchasing an additional 842 shares during the period. Pacer Advisors Inc. increased its stake in shares of Cytokinetics by 2.9% during the fourth quarter. Pacer Advisors Inc. now owns 24,843 shares of the biopharmaceutical company's stock worth $1,169,000 after purchasing an additional 690 shares during the period. R Squared Ltd bought a new position in shares of Cytokinetics during the fourth quarter worth approximately $133,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Cytokinetics by 10.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 25,023 shares of the biopharmaceutical company's stock worth $1,177,000 after purchasing an additional 2,393 shares during the period. Finally, abrdn plc increased its stake in shares of Cytokinetics by 29.4% during the fourth quarter. abrdn plc now owns 450,513 shares of the biopharmaceutical company's stock worth $21,192,000 after purchasing an additional 102,457 shares during the period.

Cytokinetics Stock Performance

NASDAQ CYTK traded down $0.44 on Friday, hitting $30.88. 1,251,619 shares of the stock traded hands, compared to its average volume of 1,594,703. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of -5.74 and a beta of 0.81. The business's fifty day moving average is $36.19 and its two-hundred day moving average is $43.67. Cytokinetics, Incorporated has a 12 month low of $29.31 and a 12 month high of $61.38. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) 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 quarter last year, the business posted ($1.33) EPS. The company's quarterly revenue was up 89.1% on a year-over-year basis. As a group, equities analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CYTK has been the topic of a number of recent research reports. Royal Bank of Canada lowered their price objective on Cytokinetics from $82.00 to $80.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Bank of America lowered their price objective on Cytokinetics from $62.00 to $54.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Citigroup lowered their price objective on Cytokinetics from $86.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. JMP Securities restated a "market outperform" rating and set a $78.00 price objective on shares of Cytokinetics in a research note on Thursday, April 10th. Finally, HC Wainwright restated a "buy" rating and set a $120.00 price objective on shares of Cytokinetics in a research note on Monday, April 21st. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Cytokinetics presently has an average rating of "Moderate Buy" and a consensus target price of $73.71.

Insider Activity

In related news, Director Wendall Wierenga sold 20,000 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $38.46, for a total value of $769,200.00. Following the sale, the director now directly owns 24,848 shares of the company's stock, valued at $955,654.08. This trade represents a 44.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert I. Blum sold 16,970 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $43.44, for a total value of $737,176.80. Following the completion of the sale, the chief executive officer now directly owns 364,181 shares in the company, valued at $15,820,022.64. The trade was a 4.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 94,816 shares of company stock valued at $3,850,385. 2.70% of the stock is currently owned by insiders.

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.