Northern Trust Corp Grows Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

Northern Trust Corp increased its stake in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 10.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,471,489 shares of the biopharmaceutical company's stock after purchasing an additional 141,835 shares during the period. Northern Trust Corp owned approximately 1.25% of Cytokinetics worth $69,219,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CYTK. Capital International Investors purchased a new position in shares of Cytokinetics during the 4th quarter valued at about $51,564,000. T. Rowe Price Investment Management Inc. grew its position in shares of Cytokinetics by 11.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company's stock worth $505,780,000 after buying an additional 1,062,136 shares during the last quarter. Norges Bank purchased a new position in Cytokinetics during the 4th quarter valued at $46,556,000. Groupama Asset Managment purchased a new position in shares of Cytokinetics during the fourth quarter valued at about $16,464,000. Finally, Marshall Wace LLP raised its position in shares of Cytokinetics by 14.9% in the 4th quarter. Marshall Wace LLP now owns 2,153,313 shares of the biopharmaceutical company's stock worth $101,292,000 after acquiring an additional 279,612 shares in the last quarter.

Cytokinetics Trading Down 1.8 %

CYTK opened at $36.67 on Tuesday. The stock has a 50-day moving average of $41.15 and a 200 day moving average of $46.50. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 12 month low of $32.74 and a 12 month high of $68.44. The firm has a market cap of $4.37 billion, a P/E ratio of -6.82 and a beta of 0.81.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, beating the consensus estimate of ($1.29) by $0.03. The company had revenue of $16.93 million for the quarter, compared to the consensus estimate of $14.26 million. As a group, research analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on CYTK. Evercore ISI upgraded shares of Cytokinetics to a "strong-buy" rating in a research note on Friday, February 7th. Stifel Nicolaus initiated coverage on shares of Cytokinetics in a report on Wednesday, January 22nd. They set a "buy" rating and a $80.00 price target on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Thursday, April 10th. Needham & Company LLC reiterated a "buy" rating and issued a $72.00 price target on shares of Cytokinetics in a research report on Friday. Finally, HC Wainwright reaffirmed a "buy" rating and set a $120.00 price objective on shares of Cytokinetics in a research report on Monday, April 21st. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cytokinetics currently has an average rating of "Moderate Buy" and a consensus target price of $76.88.

Insider Activity

In other news, EVP Andrew Callos sold 2,775 shares of Cytokinetics stock in a transaction on Monday, March 17th. The stock was sold at an average price of $44.38, for a total transaction of $123,154.50. Following the completion of the sale, the executive vice president now directly owns 34,888 shares in the company, valued at approximately $1,548,329.44. This trade represents a 7.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Fady Ibraham Malik sold 2,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $45.98, for a total transaction of $91,960.00. Following the completion of the transaction, the executive vice president now owns 116,071 shares in the company, valued at approximately $5,336,944.58. The trade was a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,362 shares of company stock valued at $3,899,118. 2.70% of the stock is currently owned by company insiders.

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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