Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in Cytokinetics, Incorporated (NASDAQ:CYTK – Get Rating) by 689.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 599,228 shares of the biopharmaceutical company’s stock after acquiring an additional 523,279 shares during the quarter. Victory Capital Management Inc.’s holdings in Cytokinetics were worth $29,032,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Cytokinetics by 0.9% in the 1st quarter. BlackRock Inc. now owns 13,064,618 shares of the biopharmaceutical company’s stock worth $480,908,000 after acquiring an additional 113,654 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Cytokinetics by 25.1% during the 1st quarter. Vanguard Group Inc. now owns 8,741,124 shares of the biopharmaceutical company’s stock worth $321,760,000 after purchasing an additional 1,751,405 shares during the last quarter. State Street Corp increased its position in shares of Cytokinetics by 7.3% during the 2nd quarter. State Street Corp now owns 4,504,226 shares of the biopharmaceutical company’s stock worth $176,971,000 after purchasing an additional 307,394 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Cytokinetics by 19.7% during the 1st quarter. Wellington Management Group LLP now owns 1,344,493 shares of the biopharmaceutical company’s stock worth $49,491,000 after purchasing an additional 221,421 shares during the last quarter. Finally, Artal Group S.A. increased its position in shares of Cytokinetics by 27.5% during the 2nd quarter. Artal Group S.A. now owns 1,275,000 shares of the biopharmaceutical company’s stock worth $50,095,000 after purchasing an additional 275,000 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CYTK shares. Truist Financial started coverage on Cytokinetics in a research report on Tuesday, December 20th. They set a “buy” rating and a $60.00 price objective for the company. JPMorgan Chase & Co. cut their price objective on Cytokinetics from $64.00 to $55.00 in a research report on Friday, December 9th. UBS Group cut their price objective on Cytokinetics from $80.00 to $66.00 and set a “neutral” rating for the company in a research report on Thursday, December 15th. Needham & Company LLC cut their price objective on Cytokinetics from $60.00 to $58.00 and set a “buy” rating for the company in a research report on Friday, December 23rd. Finally, JMP Securities dropped their target price on Cytokinetics from $82.00 to $71.00 and set a “market outperform” rating for the company in a research report on Wednesday, December 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cytokinetics has an average rating of “Moderate Buy” and a consensus price target of $59.69.

Insider Activity

In other news, CAO Robert Wong sold 2,100 shares of Cytokinetics stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $40.68, for a total value of $85,428.00. Following the completion of the transaction, the chief accounting officer now owns 30,537 shares in the company, valued at approximately $1,242,245.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Fady Ibraham Malik sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $38.04, for a total transaction of $152,160.00. Following the completion of the sale, the executive vice president now owns 164,346 shares in the company, valued at $6,251,721.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Robert Wong sold 2,100 shares of the business’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $40.68, for a total value of $85,428.00. Following the sale, the chief accounting officer now owns 30,537 shares of the company’s stock, valued at approximately $1,242,245.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,100 shares of company stock worth $2,080,868. 5.00% of the stock is currently owned by company insiders.

Cytokinetics Stock Performance

Shares of CYTK opened at $41.79 on Monday. The stock has a 50-day simple moving average of $41.86 and a 200-day simple moving average of $45.35. The company has a debt-to-equity ratio of 1.77, a quick ratio of 11.56 and a current ratio of 11.56. The stock has a market capitalization of $3.95 billion, a PE ratio of -13.22 and a beta of 0.96. Cytokinetics, Incorporated has a 1 year low of $29.26 and a 1 year high of $55.80.

Cytokinetics (NASDAQ:CYTK – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.09). The company had revenue of $2.52 million during the quarter, compared to analysts’ expectations of $2.26 million. Cytokinetics had a negative net margin of 190.34% and a negative return on equity of 225.84%. On average, analysts predict that Cytokinetics, Incorporated will post -4.07 earnings per share for the current fiscal year.

About Cytokinetics

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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.