Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. Sells 167,851 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. cut its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 51.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 161,285 shares of the biopharmaceutical company's stock after selling 167,851 shares during the period. Cytokinetics accounts for 1.3% of Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.'s portfolio, making the stock its 23rd largest holding. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. owned 0.14% of Cytokinetics worth $6,482,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Deep Track Capital LP raised its position in Cytokinetics by 296.9% during the fourth quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company's stock valued at $117,600,000 after purchasing an additional 1,870,094 shares in the last quarter. Capital International Investors bought a new stake in shares of Cytokinetics during the 4th quarter valued at about $51,564,000. T. Rowe Price Investment Management Inc. grew its holdings in Cytokinetics by 11.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company's stock worth $505,780,000 after purchasing an additional 1,062,136 shares during the period. Norges Bank bought a new stake in Cytokinetics in the 4th quarter valued at about $46,556,000. Finally, Vestal Point Capital LP raised its position in shares of Cytokinetics by 56.7% during the fourth quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company's stock worth $110,544,000 after purchasing an additional 850,000 shares during the period.

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 stock was sold at an average price of $32.04, for a total value of $277,434.36. Following the completion of the transaction, the executive vice president owned 52,028 shares in the company, valued at approximately $1,666,977.12. The trade was a 14.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Muna Bhanji sold 1,454 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $29.73, for a total transaction of $43,227.42. Following the transaction, the director owned 23,510 shares in the company, valued at $698,952.30. This trade represents a 5.82% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,751 shares of company stock worth $1,372,341. Insiders own 3.40% of the company's stock.

Analysts Set New Price Targets

CYTK has been the subject of several recent analyst reports. Citigroup reduced their target price on Cytokinetics from $86.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Bank of America dropped their price objective on Cytokinetics from $62.00 to $54.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Barclays cut their price target on shares of Cytokinetics from $55.00 to $53.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. JPMorgan Chase & Co. dropped their target price on Cytokinetics from $71.00 to $53.00 and set an "overweight" rating for the company in a research report on Monday, June 9th. Finally, Cantor Fitzgerald upgraded shares of Cytokinetics to a "strong-buy" rating in a research report on Tuesday, May 13th. 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 company presently has an average rating of "Moderate Buy" and an average price target of $70.92.

Cytokinetics Trading Up 2.0%

NASDAQ CYTK traded up $0.74 during trading hours on Tuesday, hitting $37.70. 1,161,328 shares of the company's stock traded hands, compared to its average volume of 1,534,562. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $61.38. The firm has a market capitalization of $4.50 billion, a P/E ratio of -7.13 and a beta of 0.59. The business's fifty day moving average price is $33.19 and its two-hundred day moving average price is $39.75.

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

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.