Charles Schwab Investment Management Inc. Acquires 33,257 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Charles Schwab Investment Management Inc. raised its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 4.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 789,969 shares of the biopharmaceutical company's stock after acquiring an additional 33,257 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.81% of Cytokinetics worth $65,955,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Maryland State Retirement & Pension System increased its holdings in shares of Cytokinetics by 0.8% during the fourth quarter. Maryland State Retirement & Pension System now owns 35,637 shares of the biopharmaceutical company's stock valued at $2,975,000 after purchasing an additional 278 shares during the period. Mutual of America Capital Management LLC raised its position in shares of Cytokinetics by 2.0% during the 4th quarter. Mutual of America Capital Management LLC now owns 17,162 shares of the biopharmaceutical company's stock worth $1,433,000 after buying an additional 337 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Cytokinetics by 4.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,373 shares of the biopharmaceutical company's stock worth $217,000 after acquiring an additional 340 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Cytokinetics by 0.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,684 shares of the biopharmaceutical company's stock valued at $1,523,000 after acquiring an additional 359 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Cytokinetics by 1.4% during the third quarter. Arizona State Retirement System now owns 25,870 shares of the biopharmaceutical company's stock valued at $762,000 after acquiring an additional 363 shares during the period.

Insider Transactions at Cytokinetics

In other Cytokinetics news, Director John T. Henderson sold 10,562 shares of the business's stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $64.54, for a total value of $681,671.48. Following the completion of the sale, the director now directly owns 32,070 shares of the company's stock, valued at $2,069,797.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Fady Ibraham Malik sold 32,605 shares of the business's stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $74.31, for a total value of $2,422,877.55. Following the completion of the sale, the executive vice president now directly owns 138,567 shares in the company, valued at approximately $10,296,913.77. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John T. Henderson sold 10,562 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $64.54, for a total value of $681,671.48. Following the transaction, the director now owns 32,070 shares in the company, valued at approximately $2,069,797.80. The disclosure for this sale can be found here. Insiders sold 91,318 shares of company stock valued at $6,319,540 in the last three months. Corporate insiders own 3.40% of the company's stock.

Cytokinetics Stock Performance

Shares of CYTK stock traded down $0.58 on Thursday, reaching $59.92. 888,756 shares of the company's stock traded hands, compared to its average volume of 2,693,624. The business's 50 day moving average price is $66.95 and its two-hundred day moving average price is $62.66. The company has a market capitalization of $6.28 billion, a P/E ratio of -11.10 and a beta of 0.72. Cytokinetics, Incorporated has a 12-month low of $25.98 and a 12-month high of $110.25.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, missing analysts' consensus estimates of ($1.16) by ($0.17). The firm had revenue of $0.84 million during the quarter, compared to the consensus estimate of $0.91 million. During the same quarter last year, the company earned ($1.38) EPS. Cytokinetics's revenue for the quarter was down 81.8% compared to the same quarter last year. Research analysts predict that Cytokinetics, Incorporated will post -4.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CYTK. Needham & Company LLC restated a "buy" rating and issued a $108.00 target price on shares of Cytokinetics in a research report on Thursday, May 9th. Mizuho decreased their target price on Cytokinetics from $103.00 to $99.00 and set a "buy" rating for the company in a research note on Wednesday, March 6th. JMP Securities dropped their price target on shares of Cytokinetics from $110.00 to $106.00 and set a "market outperform" rating on the stock in a research report on Thursday, May 9th. Truist Financial restated a "buy" rating and set a $86.00 price objective on shares of Cytokinetics in a research report on Monday, April 8th. Finally, HC Wainwright reiterated a "buy" rating and issued a $94.00 target price on shares of Cytokinetics in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $81.60.

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.