Pinebridge Investments L.P. Purchases 10,889 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Pinebridge Investments L.P. increased its stake in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 42.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,404 shares of the biopharmaceutical company's stock after acquiring an additional 10,889 shares during the quarter. Pinebridge Investments L.P.'s holdings in Cytokinetics were worth $1,712,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. J. Safra Sarasin Holding AG acquired a new position in shares of Cytokinetics in the 4th quarter worth approximately $613,000. Tower Research Capital LLC TRC lifted its holdings in Cytokinetics by 86.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 16,920 shares of the biopharmaceutical company's stock valued at $796,000 after buying an additional 7,864 shares during the period. MetLife Investment Management LLC boosted its position in Cytokinetics by 8.4% during the fourth quarter. MetLife Investment Management LLC now owns 133,702 shares of the biopharmaceutical company's stock valued at $6,289,000 after acquiring an additional 10,394 shares during the last quarter. Capital International Investors acquired a new stake in Cytokinetics during the 4th quarter worth about $51,564,000. 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.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, EVP Andrew Callos sold 2,886 shares of Cytokinetics stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $35.78, for a total value of $103,261.08. Following the sale, the executive vice president now owns 64,689 shares of the company's stock, valued at approximately $2,314,572.42. The trade was a 4.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Wendall Wierenga sold 20,000 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $38.46, for a total transaction of $769,200.00. Following the transaction, the director now directly owns 24,848 shares of the company's stock, valued at $955,654.08. This represents a 44.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,360 shares of company stock worth $3,848,445. Insiders own 3.40% of the company's stock.

Cytokinetics Stock Down 13.0 %

Shares of NASDAQ:CYTK traded down $5.57 during mid-day trading on Friday, hitting $37.35. 9,030,417 shares of the company traded hands, compared to its average volume of 1,643,947. The stock has a market cap of $4.45 billion, a P/E ratio of -6.94 and a beta of 0.94. The stock has a 50-day moving average price of $41.35 and a two-hundred day moving average price of $46.68. Cytokinetics, Incorporated has a 12-month low of $32.74 and a 12-month high of $68.44. 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 (NASDAQ:CYTK - Get Free Report) last posted its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.29) by $0.03. The firm had revenue of $16.93 million during the quarter, compared to the consensus estimate of $14.26 million. On average, equities research analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CYTK shares. Barclays started coverage on Cytokinetics in a research note on Thursday, April 24th. They set an "overweight" rating and a $55.00 target price for the company. Citigroup began coverage on shares of Cytokinetics in a research note on Friday, February 7th. They issued a "buy" rating and a $86.00 price objective for the company. JMP Securities reiterated a "market outperform" rating and set a $78.00 target price on shares of Cytokinetics in a research report on Thursday, April 10th. Evercore ISI upgraded shares of Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. Finally, Bank of America dropped their price objective on shares of Cytokinetics from $62.00 to $54.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cytokinetics currently has an average rating of "Moderate Buy" and a consensus target price of $76.88.

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.