Nuveen Asset Management LLC Decreases Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Nuveen Asset Management LLC lowered its stake in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 2.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 373,229 shares of the biopharmaceutical company's stock after selling 9,947 shares during the quarter. Nuveen Asset Management LLC owned 0.32% of Cytokinetics worth $17,557,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Jones Financial Companies Lllp raised its holdings in Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 374 shares during the last quarter. Retirement Systems of Alabama boosted its position in Cytokinetics by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company's stock valued at $6,750,000 after buying an additional 565 shares during the period. Arizona State Retirement System boosted its position in Cytokinetics by 1.9% during the 4th quarter. Arizona State Retirement System now owns 32,366 shares of the biopharmaceutical company's stock valued at $1,522,000 after buying an additional 600 shares during the period. Inspire Investing LLC raised its stake in shares of Cytokinetics by 7.8% during the fourth quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company's stock valued at $400,000 after acquiring an additional 616 shares during the last quarter. Finally, Centricity Wealth Management LLC purchased a new stake in shares of Cytokinetics during the fourth quarter worth about $29,000.

Cytokinetics Stock Up 1.3%

Shares of NASDAQ CYTK traded up $0.40 on Thursday, reaching $30.68. 198,271 shares of the company's stock traded hands, compared to its average volume of 1,605,457. Cytokinetics, Incorporated has a 12 month low of $29.31 and a 12 month high of $61.38. The business's 50 day simple moving average is $36.76 and its two-hundred day simple moving average is $44.03. The company has a market cap of $3.66 billion, a price-to-earnings ratio of -5.71 and a beta of 0.81. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93.

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

Insider Buying and Selling at Cytokinetics

In other news, Director Muna Bhanji sold 1,454 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $29.73, for a total value of $43,227.42. Following the completion of the transaction, the director now owns 23,510 shares in the company, valued at $698,952.30. The trade was a 5.82% 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, Director Wendall Wierenga sold 20,000 shares of Cytokinetics stock in a transaction that occurred 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 now directly owns 24,848 shares of the company's stock, valued at approximately $955,654.08. This trade represents a 44.60% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 94,816 shares of company stock valued at $3,850,385. Corporate insiders own 2.70% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CYTK. Bank of America dropped 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 reiterated a "market outperform" rating and set a $78.00 target price on shares of Cytokinetics in a report on Thursday, April 10th. Needham & Company LLC reissued a "buy" rating and issued a $72.00 price target on shares of Cytokinetics in a research note on Wednesday, May 14th. Citigroup decreased their price target on shares of Cytokinetics from $86.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Finally, Morgan Stanley set a $67.00 price target on shares of Cytokinetics in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $74.73.

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.