TD Asset Management Inc Has $17.96 Million Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

TD Asset Management Inc lessened its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 14.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 446,828 shares of the biopharmaceutical company's stock after selling 77,806 shares during the quarter. TD Asset Management Inc owned 0.37% of Cytokinetics worth $17,958,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fifth Third Bancorp increased its holdings in Cytokinetics by 42.2% during the 1st quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company's stock valued at $39,000 after purchasing an additional 291 shares in the last quarter. State of Michigan Retirement System increased its stake in shares of Cytokinetics by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 28,200 shares of the biopharmaceutical company's stock valued at $1,133,000 after buying an additional 300 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Cytokinetics by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 33,100 shares of the biopharmaceutical company's stock valued at $1,330,000 after buying an additional 300 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Cytokinetics by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 13,820 shares of the biopharmaceutical company's stock valued at $555,000 after buying an additional 365 shares during the period. Finally, Harvey Capital Management Inc. increased its stake in shares of Cytokinetics by 2.1% in the 1st quarter. Harvey Capital Management Inc. now owns 22,580 shares of the biopharmaceutical company's stock valued at $907,000 after buying an additional 475 shares during the period.

Cytokinetics Stock Performance

CYTK stock traded down $0.95 during midday trading on Friday, hitting $36.69. 1,088,724 shares of the company's stock were exchanged, compared to its average volume of 1,279,881. The company has a market cap of $4.38 billion, a PE ratio of -6.94 and a beta of 0.64. The stock's fifty day moving average price is $34.41 and its 200-day moving average price is $39.13. Cytokinetics, Incorporated has a one year low of $29.31 and a one year high of $59.39.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, beating analysts' consensus estimates 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. The business's revenue for the quarter was up 89.1% on a year-over-year basis. During the same quarter last year, the firm earned ($1.33) earnings per share. On average, analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CYTK shares. Royal Bank Of Canada lowered their target price on Cytokinetics from $82.00 to $80.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 price objective on shares of Cytokinetics in a research note on Wednesday, May 14th. HC Wainwright reaffirmed a "buy" rating and set a $120.00 price objective on shares of Cytokinetics in a research note on Monday, April 21st. Raymond James Financial began coverage on Cytokinetics in a research note on Wednesday. They set a "market perform" rating for the company. Finally, Bank of America decreased 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. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $70.92.

Insider Buying and Selling

In other news, Director Edward M. Md Kaye sold 3,636 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $32.10, for a total value of $116,715.60. Following the sale, the director directly owned 29,658 shares in the company, valued at $952,021.80. The trade was a 10.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Andrew Callos sold 8,659 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $32.04, for a total value of $277,434.36. Following the completion of the sale, the executive vice president owned 52,028 shares in the company, valued at approximately $1,666,977.12. This trade represents a 14.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,751 shares of company stock valued at $1,424,731. Corporate insiders own 2.70% of the company's stock.

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.