J. Safra Sarasin Holding AG Takes $613,000 Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

J. Safra Sarasin Holding AG acquired a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 13,027 shares of the biopharmaceutical company's stock, valued at approximately $613,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Jones Financial Companies Lllp increased its position in shares of Cytokinetics by 189.8% in the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 374 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in Cytokinetics in the fourth quarter valued at $29,000. AlphaQuest LLC raised its stake in Cytokinetics by 113,500.0% in 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 boosted its position 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 in the last quarter. Finally, Blue Trust Inc. boosted its position 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.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CYTK shares. JMP Securities restated a "market outperform" rating and set a $78.00 target price on shares of Cytokinetics in a research note on Thursday, April 10th. Citigroup initiated coverage on shares of Cytokinetics in a research report on Friday, February 7th. They set a "buy" rating and a $86.00 price objective for the company. Bank of America dropped their target price on shares of Cytokinetics from $62.00 to $54.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Stifel Nicolaus started coverage on shares of Cytokinetics in a research report on Wednesday, January 22nd. They issued a "buy" rating and a $80.00 price target for the company. Finally, Barclays started coverage on Cytokinetics in a report on Thursday, April 24th. They set an "overweight" rating and a $55.00 price objective on the stock. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $79.13.

Cytokinetics Stock Performance

Shares of NASDAQ:CYTK traded down $0.19 during midday trading on Tuesday, hitting $41.04. The stock had a trading volume of 245,301 shares, compared to its average volume of 1,603,511. Cytokinetics, Incorporated has a 1 year low of $32.74 and a 1 year high of $68.44. 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 stock has a 50 day moving average price of $41.99 and a two-hundred day moving average price of $47.01. The company has a market capitalization of $4.89 billion, a PE ratio of -7.65 and a beta of 0.94.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, beating analysts' consensus estimates of ($1.29) by $0.03. The business had revenue of $16.93 million during the quarter, compared to analysts' expectations of $14.26 million. As a group, equities analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Insider Activity at Cytokinetics

In related news, CEO Robert I. Blum sold 16,970 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $43.44, for a total value of $737,176.80. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wendall Wierenga sold 20,000 shares of the company's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $38.46, for a total transaction of $769,200.00. Following the transaction, the director now owns 24,848 shares in the company, valued at $955,654.08. The trade was a 44.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 88,360 shares of company stock worth $3,643,645 over the last three months. 3.40% of the stock is currently owned by corporate 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.