MetLife Investment Management LLC Raises Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

MetLife Investment Management LLC grew its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 133,702 shares of the biopharmaceutical company's stock after acquiring an additional 10,394 shares during the quarter. MetLife Investment Management LLC owned about 0.11% of Cytokinetics worth $6,289,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Jones Financial Companies Lllp raised its holdings in 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 buying an additional 374 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Cytokinetics during the fourth quarter worth $29,000. AlphaQuest LLC grew its stake in shares of Cytokinetics by 113,500.0% in the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 1,135 shares during the last quarter. J.Safra Asset Management Corp increased its holdings in Cytokinetics by 62.1% in the fourth quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company's stock valued at $83,000 after purchasing an additional 671 shares during the period. Finally, Blue Trust Inc. raised its position in 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 purchasing an additional 842 shares during the last quarter.

Insider Activity

In other Cytokinetics news, Director Wendall Wierenga sold 20,000 shares of Cytokinetics 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 completion of the transaction, the director now owns 24,848 shares of the company's stock, valued at $955,654.08. The trade was a 44.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $48.06, for a total value of $96,120.00. Following the sale, the executive vice president now directly owns 116,071 shares of the company's stock, valued at $5,578,372.26. This represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,360 shares of company stock valued at $3,643,645 in the last three months. Company insiders own 3.40% of the company's stock.

Cytokinetics Stock Up 1.1 %

CYTK stock traded up $0.46 during trading on Monday, reaching $40.89. The stock had a trading volume of 204,064 shares, compared to its average volume of 1,606,387. Cytokinetics, Incorporated has a one year low of $32.74 and a one year high of $68.44. The company's 50 day moving average is $42.09 and its two-hundred day moving average is $47.11. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of -7.61 and a beta of 0.94.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, topping analysts' consensus estimates of ($1.29) by $0.03. The business had revenue of $16.93 million for the quarter, compared to the consensus estimate of $14.26 million. Equities research analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Needham & Company LLC reiterated a "buy" rating and issued a $72.00 target price on shares of Cytokinetics in a report on Tuesday, April 8th. Morgan Stanley set a $67.00 price objective on Cytokinetics in a research note on Friday, March 7th. Stifel Nicolaus began coverage on Cytokinetics in a research note on Wednesday, January 22nd. They set a "buy" rating and a $80.00 target price for the company. HC Wainwright restated a "buy" rating and set a $120.00 price target on shares of Cytokinetics in a report on Monday, April 21st. Finally, Evercore ISI upgraded shares of Cytokinetics to a "strong-buy" rating in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cytokinetics presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.13.

Cytokinetics 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.