DekaBank Deutsche Girozentrale Grows Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

DekaBank Deutsche Girozentrale raised its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 36.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,000 shares of the biopharmaceutical company's stock after purchasing an additional 20,000 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.08% of Cytokinetics worth $6,131,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. China Universal Asset Management Co. Ltd. boosted its holdings in Cytokinetics by 360.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,341 shares of the biopharmaceutical company's stock worth $947,000 after acquiring an additional 8,878 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Cytokinetics by 0.9% during the 4th quarter. State of Alaska Department of Revenue now owns 60,322 shares of the biopharmaceutical company's stock worth $5,036,000 after acquiring an additional 517 shares during the last quarter. Caprock Group LLC purchased a new position in Cytokinetics during the 4th quarter worth $216,000. Assenagon Asset Management S.A. purchased a new position in Cytokinetics during the 4th quarter worth $46,308,000. Finally, Legato Capital Management LLC purchased a new position in Cytokinetics during the 4th quarter worth $1,305,000.

Cytokinetics Stock Performance

NASDAQ CYTK traded down $1.17 during trading on Thursday, hitting $73.19. 788,934 shares of the company's stock traded hands, compared to its average volume of 3,179,052. The business has a 50 day moving average of $72.38 and a 200-day moving average of $56.91. 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 $7.54 billion, a price-to-earnings ratio of -13.43 and a beta of 0.68.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $1.70 million during the quarter, compared to analysts' expectations of $7.62 million. During the same quarter in the previous year, the company posted ($1.45) EPS. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. On average, analysts expect that Cytokinetics, Incorporated will post -4.5 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $108.00 price objective on shares of Cytokinetics in a report on Tuesday. Morgan Stanley reissued an "equal weight" rating and issued a $90.00 price target (up from $60.00) on shares of Cytokinetics in a report on Friday, January 5th. Oppenheimer reissued an "outperform" rating and issued a $107.00 price target on shares of Cytokinetics in a report on Monday, March 4th. UBS Group downgraded shares of Cytokinetics from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $61.00 to $92.00 in a report on Wednesday, January 24th. Finally, Truist Financial reissued a "buy" rating and issued a $86.00 price target on shares of Cytokinetics in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $79.33.

Insider Activity

In other news, EVP Fady Ibraham Malik sold 32,605 shares of the company's stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $79.30, for a total transaction of $2,585,576.50. Following the sale, the executive vice president now directly owns 142,973 shares in the company, valued at $11,337,758.90. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director John T. Henderson sold 5,000 shares of the company's stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $85.14, for a total value of $425,700.00. Following the transaction, the director now directly owns 42,632 shares in the company, valued at $3,629,688.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Fady Ibraham Malik sold 32,605 shares of the company's stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $79.30, for a total transaction of $2,585,576.50. Following the completion of the transaction, the executive vice president now owns 142,973 shares in the company, valued at $11,337,758.90. The disclosure for this sale can be found here. Insiders have sold a total of 132,814 shares of company stock worth $10,031,655 over the last ninety days. Company insiders own 3.80% of the company's stock.

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.