T. Rowe Price Investment Management Inc. Grows Stock Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

T. Rowe Price Investment Management Inc. increased its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 11.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,752,123 shares of the biopharmaceutical company's stock after purchasing an additional 1,062,136 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 9.11% of Cytokinetics worth $505,780,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CYTK. Jones Financial Companies Lllp lifted its position in shares of Cytokinetics by 189.8% during the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 374 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in Cytokinetics during the 4th quarter valued at about $29,000. AlphaQuest LLC boosted its position in Cytokinetics by 113,500.0% in the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock valued at $53,000 after buying an additional 1,135 shares during the period. J.Safra Asset Management Corp grew its stake in Cytokinetics by 62.1% in the 4th quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company's stock worth $83,000 after acquiring an additional 671 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Cytokinetics by 85.8% during the fourth quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company's stock worth $86,000 after acquiring an additional 842 shares during the period.

Cytokinetics Stock Up 1.2 %

NASDAQ CYTK traded up $0.47 on Monday, hitting $40.90. The stock had a trading volume of 262,930 shares, compared to its average volume of 1,797,538. The business's fifty day moving average price is $42.09 and its 200 day moving average price is $47.11. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of -7.60 and a beta of 0.94. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. Cytokinetics, Incorporated has a 52-week low of $32.74 and a 52-week high of $68.44.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.03. The business had revenue of $16.93 million for the quarter, compared to analysts' expectations of $14.26 million. Equities research analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CYTK has been the subject of a number of research reports. Barclays started coverage on Cytokinetics in a report on Thursday. They issued an "overweight" rating and a $55.00 price target for the company. Bank of America lowered their target price on Cytokinetics from $62.00 to $54.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Stifel Nicolaus initiated coverage on Cytokinetics in a research note on Wednesday, January 22nd. They set a "buy" rating and a $80.00 price target on the stock. Morgan Stanley set a $67.00 price objective on shares of Cytokinetics in a research note on Friday, March 7th. Finally, Evercore ISI raised shares of Cytokinetics to a "strong-buy" rating in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $79.13.

Insider Activity

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $45.98, for a total transaction of $91,960.00. Following the sale, the executive vice president now owns 116,071 shares of the company's stock, valued at approximately $5,336,944.58. The trade was a 1.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrew Callos sold 3,341 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $43.27, for a total transaction of $144,565.07. Following the completion of the transaction, the executive vice president now directly owns 64,434 shares of the company's stock, valued at approximately $2,788,059.18. This represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,360 shares of company stock worth $3,643,645 over the last 90 days. 3.40% of the stock is currently owned by corporate insiders.

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.