Vanguard Group Inc. Purchases 191,336 Shares of Cytokinetics, Incorporated $CYTK

Key Points

• Vanguard Group raised its stake in Cytokinetics by 1.6%, buying 191,336 shares to hold 12,048,131 shares (about 9.85%) valued at roughly $765.5 million.
• Cytokinetics reported Q results with EPS of ($1.50) (a $0.02 miss) while revenue of $17.76 million substantially beat estimates of $8.02 million and rose 4.9% year‑over‑year; analysts forecast FY EPS of -6.31.
• Insiders have sold 166,505 shares worth $10.39 million in the past 90 days — including CEO and EVP sales executed under Rule 10b5‑1 plans — though insiders still own 2.70% of the company.

Vanguard Group Inc. raised its position in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,048,131 shares of the biopharmaceutical company's stock after buying an additional 191,336 shares during the quarter. Vanguard Group Inc. owned about 9.85% of Cytokinetics worth $765,538,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CYTK. Millennium Management LLC increased its holdings in Cytokinetics by 361.9% in the 1st quarter. Millennium Management LLC now owns 287,901 shares of the biopharmaceutical company's stock valued at $11,571,000 after buying an additional 225,576 shares during the period. Cetera Investment Advisers increased its holdings in Cytokinetics by 12.4% in the 2nd quarter. Cetera Investment Advisers now owns 6,635 shares of the biopharmaceutical company's stock valued at $219,000 after buying an additional 731 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Cytokinetics by 723.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company's stock valued at $25,000 after buying an additional 673 shares during the period. Gabelli Funds LLC increased its holdings in Cytokinetics by 29.4% in the 2nd quarter. Gabelli Funds LLC now owns 8,410 shares of the biopharmaceutical company's stock valued at $278,000 after buying an additional 1,910 shares during the period. Finally, California Public Employees Retirement System increased its holdings in Cytokinetics by 10.8% in the 2nd quarter. California Public Employees Retirement System now owns 142,602 shares of the biopharmaceutical company's stock valued at $4,712,000 after buying an additional 13,911 shares during the period.

Cytokinetics Trading Down 1.0%

Shares of Cytokinetics stock opened at $63.35 on Friday. The firm's 50 day moving average is $63.81 and its 200 day moving average is $63.52. Cytokinetics, Incorporated has a 1 year low of $29.31 and a 1 year high of $70.98. The firm has a market capitalization of $7.87 billion, a PE ratio of -9.70 and a beta of 0.38.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its earnings results on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) EPS for the quarter, missing the consensus estimate of ($1.48) by ($0.02). The company had revenue of $17.76 million for the quarter, compared to analyst estimates of $8.02 million. During the same quarter in the previous year, the company posted ($1.26) EPS. Cytokinetics's revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, research analysts anticipate that Cytokinetics, Incorporated will post -6.31 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $65.69, for a total transaction of $229,915.00. Following the sale, the executive vice president directly owned 153,902 shares in the company, valued at $10,109,822.38. This trade represents a 2.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert I. Blum sold 7,500 shares of Cytokinetics stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $59.62, for a total transaction of $447,150.00. Following the sale, the chief executive officer owned 407,830 shares in the company, valued at approximately $24,314,824.60. This represents a 1.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 166,505 shares of company stock worth $10,392,840 in the last ninety days. Company insiders own 2.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada lifted their price target on shares of Cytokinetics from $95.00 to $101.00 and gave the company an "outperform" rating in a report on Friday, February 20th. Truist Financial lifted their price target on shares of Cytokinetics from $84.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, February 3rd. Jefferies Financial Group reaffirmed a "buy" rating and set a $90.00 price target on shares of Cytokinetics in a report on Friday, January 9th. Barclays lifted their price target on shares of Cytokinetics from $87.00 to $95.00 and gave the company an "overweight" rating in a report on Monday, April 6th. Finally, Morgan Stanley set a $90.00 price target on shares of Cytokinetics in a report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $90.55.

About Cytokinetics

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company's most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.

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