ProShare Advisors LLC Buys 9,620 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

ProShare Advisors LLC boosted its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 28.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,299 shares of the biopharmaceutical company's stock after acquiring an additional 9,620 shares during the period. ProShare Advisors LLC's holdings in Cytokinetics were worth $2,037,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Orbimed Advisors LLC grew its position in shares of Cytokinetics by 106.5% in the 4th quarter. Orbimed Advisors LLC now owns 1,584,005 shares of the biopharmaceutical company's stock valued at $74,512,000 after purchasing an additional 817,099 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Cytokinetics by 0.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,658 shares of the biopharmaceutical company's stock valued at $3,372,000 after buying an additional 659 shares in the last quarter. Integral Health Asset Management LLC boosted its holdings in shares of Cytokinetics by 33.3% in the fourth quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company's stock valued at $47,040,000 after buying an additional 250,000 shares during the period. Hudson Bay Capital Management LP increased its position in shares of Cytokinetics by 109.3% during the fourth quarter. Hudson Bay Capital Management LP now owns 141,269 shares of the biopharmaceutical company's stock worth $6,645,000 after acquiring an additional 73,769 shares in the last quarter. Finally, Deep Track Capital LP increased its position in shares of Cytokinetics by 296.9% during the fourth quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company's stock worth $117,600,000 after acquiring an additional 1,870,094 shares in the last quarter.

Analyst Ratings Changes

Several analysts have issued reports on CYTK shares. Citigroup dropped their price target on Cytokinetics from $86.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Evercore ISI upgraded Cytokinetics to a "strong-buy" rating in a research note on Friday, February 7th. UBS Group decreased their price target on shares of Cytokinetics from $47.00 to $41.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Morgan Stanley set a $67.00 price objective on shares of Cytokinetics in a research report on Friday, March 7th. Finally, Barclays decreased their target price on shares of Cytokinetics from $55.00 to $53.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $74.73.

Cytokinetics Stock Performance

CYTK traded up $0.05 during trading hours on Monday, reaching $30.54. The company's stock had a trading volume of 1,789,501 shares, compared to its average volume of 1,620,482. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The company's 50-day moving average is $37.58 and its 200-day moving average is $44.41. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $61.38. The firm has a market cap of $3.65 billion, a PE ratio of -5.68 and a beta of 0.81.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its earnings results 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 company had revenue of $1.60 million for the quarter, compared to analyst estimates of $2.77 million. The business's quarterly revenue was up 89.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.33) EPS. On average, equities analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Insider Activity

In other Cytokinetics news, CEO Robert I. Blum sold 16,970 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $43.44, for a total transaction of $737,176.80. Following the transaction, the chief executive officer now owns 364,181 shares in the company, valued at $15,820,022.64. This trade represents a 4.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew Callos sold 2,775 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $44.38, for a total value of $123,154.50. Following the sale, the executive vice president now owns 34,888 shares of the company's stock, valued at approximately $1,548,329.44. The trade was a 7.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,816 shares of company stock valued at $3,850,385. 2.70% of the stock is 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.