Swiss National Bank cut its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 14.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,800 shares of the biopharmaceutical company’s stock after selling 20,700 shares during the period. Swiss National Bank owned about 0.17% of Cytokinetics worth $2,470,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. IndexIQ Advisors LLC acquired a new stake in Cytokinetics during the 1st quarter worth approximately $38,000. US Bancorp DE boosted its position in Cytokinetics by 144.8% during the 2nd quarter. US Bancorp DE now owns 1,687 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 998 shares during the period. Quantbot Technologies LP acquired a new stake in Cytokinetics during the 1st quarter worth approximately $44,000. Captrust Financial Advisors boosted its position in Cytokinetics by 1,422.1% during the 1st quarter. Captrust Financial Advisors now owns 2,131 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 1,991 shares during the period. Finally, Pinz Capital Management LP acquired a new stake in Cytokinetics during the 1st quarter worth approximately $109,000. Institutional investors and hedge funds own 90.54% of the company’s stock.
NASDAQ:CYTK opened at $33.13 on Friday. The company has a fifty day moving average of $31.26 and a 200-day moving average of $25.81. The firm has a market capitalization of $2.77 billion, a P/E ratio of -15.13 and a beta of 1.41. The company has a quick ratio of 5.90, a current ratio of 5.90 and a debt-to-equity ratio of 7.76. Cytokinetics, Incorporated has a twelve month low of $14.71 and a twelve month high of $34.45.
Several equities research analysts recently commented on CYTK shares. Raymond James lifted their target price on shares of Cytokinetics from $37.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday, July 19th. Piper Sandler lowered their price target on shares of Cytokinetics from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, August 9th. Mizuho initiated coverage on shares of Cytokinetics in a report on Thursday, July 1st. They set a “buy” rating and a $36.00 price target for the company. Cantor Fitzgerald raised their price target on shares of Cytokinetics from $35.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, July 20th. Finally, Zacks Investment Research lowered shares of Cytokinetics from a “hold” rating to a “sell” rating in a report on Friday, August 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Cytokinetics has an average rating of “Buy” and a consensus target price of $43.09.
In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of the business’s stock in a transaction on Thursday, August 12th. The shares were sold at an average price of $32.60, for a total transaction of $65,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Cragg sold 2,616 shares of Cytokinetics stock in a transaction on Monday, August 2nd. The stock was sold at an average price of $29.67, for a total transaction of $77,616.72. The disclosure for this sale can be found here. Insiders have sold a total of 35,581 shares of company stock valued at $985,416 in the last 90 days. 5.70% of the stock is currently owned by company insiders.
Cytokinetics, Inc operates as a biopharmaceutical company. The firm focuses on the discovery and development of muscle activators as potential treatment for debilitating diseases. It conducts a Phase 2 clinical trials program for tirasemtiv, including a Phase 2b clinical trial in patients with ALS, known as BENEFIT-ALS (Blinded Evaluation of Neuromuscular Effects and Functional Improvement with Tirasemtiv in ALS).
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