UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $14.83 Million Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 52.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 315,250 shares of the biopharmaceutical company's stock after selling 351,506 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.27% of Cytokinetics worth $14,829,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake in Cytokinetics by 189.8% in the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 374 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in Cytokinetics during the fourth quarter worth $29,000. AlphaQuest LLC raised its holdings in Cytokinetics by 113,500.0% during the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock valued at $53,000 after buying an additional 1,135 shares in the last quarter. J.Safra Asset Management Corp lifted its position in shares of Cytokinetics by 62.1% in the fourth quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company's stock worth $83,000 after buying an additional 671 shares during the last quarter. Finally, Blue Trust Inc. boosted 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 in the last quarter.

Cytokinetics Stock Performance

CYTK traded up $0.79 on Tuesday, hitting $32.00. 1,258,158 shares of the stock traded hands, compared to its average volume of 1,588,449. The business has a fifty day moving average price of $35.72 and a two-hundred day moving average price of $43.29. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The firm has a market capitalization of $3.82 billion, a PE ratio of -5.95 and a beta of 0.81. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $61.38.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.41) by $0.05. The firm had revenue of $1.60 million for 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 in the prior year, the firm posted ($1.33) earnings per share. On average, research analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cytokinetics news, EVP Andrew Callos sold 3,341 shares of the company's stock in a transaction on 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 in the company, valued at $2,788,059.18. This represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Wendall Wierenga sold 20,000 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $38.46, for a total value of $769,200.00. Following the transaction, the director now owns 24,848 shares of the company's stock, valued at $955,654.08. This represents a 44.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 99,816 shares of company stock worth $4,006,485 over the last 90 days. Corporate insiders own 2.70% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CYTK. Citigroup cut their price objective on Cytokinetics from $86.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Royal Bank of Canada lowered their price target on Cytokinetics from $82.00 to $80.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Mizuho reduced their price objective on shares of Cytokinetics from $103.00 to $84.00 and set an "outperform" rating for the company in a research note on Thursday, May 29th. Evercore ISI raised shares of Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. Finally, Morgan Stanley set a $67.00 target price on shares of Cytokinetics in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Cytokinetics presently has an average rating of "Moderate Buy" and a consensus target price of $73.71.

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.