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

ProShare Advisors LLC increased its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 28.6% in the fourth quarter, according to its most recent filing with the SEC. The fund 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp lifted its stake in shares of Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 374 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Cytokinetics during the 4th quarter worth approximately $29,000. AlphaQuest LLC lifted its stake in shares of Cytokinetics by 113,500.0% during the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock worth $53,000 after acquiring an additional 1,135 shares during the last quarter. J.Safra Asset Management Corp lifted its stake in shares of Cytokinetics by 62.1% during the 4th quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company's stock worth $83,000 after acquiring an additional 671 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Cytokinetics by 85.8% during the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company's stock worth $86,000 after acquiring an additional 842 shares during the last quarter.

Insiders Place Their Bets

In other Cytokinetics news, CEO Robert I. Blum sold 12,648 shares of Cytokinetics stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $44.38, for a total transaction of $561,318.24. Following the completion of the sale, the chief executive officer now owns 326,533 shares of the company's stock, valued at approximately $14,491,534.54. The trade was a 3.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Andrew Callos sold 3,341 shares of Cytokinetics stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $43.27, for a total value of $144,565.07. Following the sale, the executive vice president now directly owns 64,434 shares of the company's stock, valued at approximately $2,788,059.18. This represents a 4.93% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 94,816 shares of company stock valued at $3,850,385. 2.70% of the stock is owned by company insiders.

Cytokinetics Stock Up 6.2%

Cytokinetics stock opened at $32.66 on Wednesday. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of -6.07 and a beta of 0.81. Cytokinetics, Incorporated has a 1-year low of $29.31 and a 1-year high of $61.38. The business has a fifty day moving average price of $38.38 and a 200-day moving average price of $44.96.

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 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 analyst estimates of $2.77 million. During the same period in the previous year, the business earned ($1.33) EPS. The firm's revenue for the quarter was up 89.1% compared to the same quarter last year. Equities research analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CYTK. Royal Bank of Canada decreased their price target on Cytokinetics from $82.00 to $80.00 and set an "outperform" rating for the company 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 report on Thursday, April 10th. Needham & Company LLC restated a "buy" rating and set a $72.00 price objective on shares of Cytokinetics in a report on Wednesday, May 14th. Stifel Nicolaus initiated coverage on Cytokinetics in a report on Wednesday, January 22nd. They set a "buy" rating and a $80.00 price objective on the stock. Finally, UBS Group reduced their price objective on Cytokinetics from $47.00 to $41.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $74.44.

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.

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