HealthInvest Partners AB Buys Shares of 11,733 Cytokinetics, Incorporated (NASDAQ:CYTK)

HealthInvest Partners AB bought a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,733 shares of the biopharmaceutical company's stock, valued at approximately $980,000. Cytokinetics accounts for approximately 0.8% of HealthInvest Partners AB's investment portfolio, making the stock its 28th largest position.

A number of other hedge funds have also made changes to their positions in CYTK. BlackRock Inc. lifted its position in Cytokinetics by 0.9% in the 1st quarter. BlackRock Inc. now owns 13,064,618 shares of the biopharmaceutical company's stock worth $480,908,000 after buying an additional 113,654 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Cytokinetics by 4.6% during the third quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company's stock worth $316,498,000 after acquiring an additional 472,595 shares in the last quarter. State Street Corp boosted its position in Cytokinetics by 7.1% during the second quarter. State Street Corp now owns 5,091,580 shares of the biopharmaceutical company's stock valued at $166,087,000 after purchasing an additional 337,680 shares during the last quarter. Geode Capital Management LLC boosted its position in Cytokinetics by 4.6% during the first quarter. Geode Capital Management LLC now owns 1,734,696 shares of the biopharmaceutical company's stock valued at $61,044,000 after purchasing an additional 76,846 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Cytokinetics by 19.7% in the 1st quarter. Wellington Management Group LLP now owns 1,344,493 shares of the biopharmaceutical company's stock valued at $49,491,000 after buying an additional 221,421 shares in the last quarter.

Analysts Set New Price Targets

CYTK has been the subject of several recent research reports. UBS Group downgraded shares of Cytokinetics from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $61.00 to $92.00 in a research report on Wednesday, January 24th. StockNews.com lowered Cytokinetics from a "hold" rating to a "sell" rating in a report on Friday, January 5th. Needham & Company LLC reiterated a "buy" rating and set a $108.00 price target on shares of Cytokinetics in a research note on Tuesday, April 9th. Morgan Stanley reissued an "equal weight" rating and issued a $90.00 price objective (up from $60.00) on shares of Cytokinetics in a research note on Friday, January 5th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $94.00 target price on shares of Cytokinetics in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, Cytokinetics presently has an average rating of "Moderate Buy" and an average target price of $79.33.

Insider Activity

In other news, CEO Robert I. Blum sold 12,500 shares of the firm's stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $81.42, for a total value of $1,017,750.00. Following the transaction, the chief executive officer now owns 441,797 shares of the company's stock, valued at approximately $35,971,111.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cytokinetics news, CEO Robert I. Blum sold 12,500 shares of the firm's stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $81.42, for a total value of $1,017,750.00. Following the transaction, the chief executive officer now directly owns 441,797 shares of the company's stock, valued at $35,971,111.74. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock in a transaction 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 sale, the executive vice president now directly owns 142,973 shares of the company's stock, valued at approximately $11,337,758.90. The disclosure for this sale can be found here. Insiders have sold 127,814 shares of company stock valued at $9,605,955 over the last 90 days. 3.80% of the stock is owned by company insiders.

Cytokinetics Stock Performance

Cytokinetics stock traded up $1.00 during trading hours on Tuesday, hitting $69.00. 973,206 shares of the stock were exchanged, compared to its average volume of 3,093,333. Cytokinetics, Incorporated has a 12 month low of $25.98 and a 12 month high of $110.25. The business's 50-day moving average is $71.93 and its two-hundred day moving average is $57.85. The stock has a market capitalization of $7.22 billion, a P/E ratio of -12.48 and a beta of 0.68.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) EPS for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.35). The business had revenue of $1.70 million for the quarter, compared to analysts' expectations of $7.62 million. During the same quarter in the prior year, the company posted ($1.45) earnings per share. The firm's revenue was down 10.5% on a year-over-year basis. On average, equities analysts predict that Cytokinetics, Incorporated will post -4.5 earnings per share for the current fiscal year.

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.

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