Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 4.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,743,324 shares of the biopharmaceutical company's stock after buying an additional 472,595 shares during the period. Vanguard Group Inc. owned approximately 10.96% of Cytokinetics worth $316,498,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Belpointe Asset Management LLC lifted its holdings in shares of Cytokinetics by 76.2% in the 1st quarter. Belpointe Asset Management LLC now owns 786 shares of the biopharmaceutical company's stock worth $28,000 after purchasing an additional 340 shares in the last quarter. West Tower Group LLC bought a new position in shares of Cytokinetics in the 2nd quarter worth $62,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Cytokinetics by 96.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,463 shares of the biopharmaceutical company's stock worth $73,000 after purchasing an additional 1,209 shares in the last quarter. Natixis bought a new position in shares of Cytokinetics in the 4th quarter worth $73,000. Finally, Chilton Capital Management LLC bought a new position in shares of Cytokinetics in the 1st quarter worth $80,000.

Insider Buying and Selling

In related news, Director John T. Henderson sold 5,000 shares of Cytokinetics stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $85.14, for a total value of $425,700.00. Following the completion of the sale, the director now owns 42,632 shares of the company's stock, valued at approximately $3,629,688.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Cytokinetics news, CEO Robert I. Blum sold 12,500 shares of the firm's stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $85.08, for a total value of $1,063,500.00. Following the completion of the transaction, the chief executive officer now owns 441,797 shares in the company, valued at approximately $37,588,088.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John T. Henderson sold 5,000 shares of the firm's stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $85.14, for a total value of $425,700.00. Following the completion of the transaction, the director now owns 42,632 shares of the company's stock, valued at approximately $3,629,688.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 128,387 shares of company stock valued at $10,035,950. 3.80% of the stock is owned by insiders.

Cytokinetics Price Performance

Shares of Cytokinetics stock traded down $1.30 during trading hours on Thursday, hitting $70.11. 1,611,824 shares of the company's stock traded hands, compared to its average volume of 3,507,098. The company has a fifty day simple moving average of $74.21 and a 200-day simple moving average of $54.21. Cytokinetics, Incorporated has a 12-month low of $25.98 and a 12-month high of $110.25. The stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of -12.86 and a beta of 0.69.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The company had revenue of $1.70 million during the quarter, compared to the consensus estimate of $7.62 million. During the same period in the prior year, the business posted ($1.45) earnings per share. The business's revenue was down 10.5% compared to the same quarter last year. On average, analysts forecast that Cytokinetics, Incorporated will post -4.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Morgan Stanley reiterated an "equal weight" rating and issued a $90.00 target price (up from $60.00) on shares of Cytokinetics in a report on Friday, January 5th. Mizuho lowered their price target on Cytokinetics from $103.00 to $99.00 and set a "buy" rating for the company in a research report on Wednesday, March 6th. StockNews.com lowered Cytokinetics from a "hold" rating to a "sell" rating in a research report on Friday, January 5th. Truist Financial increased their price target on Cytokinetics from $60.00 to $86.00 and gave the company a "buy" rating in a research report on Thursday, December 28th. Finally, Oppenheimer reissued an "outperform" rating and issued a $107.00 price target on shares of Cytokinetics in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $77.00.

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.