United Services Automobile Association Acquires Shares of 10,634 Cytokinetics, Incorporated (NASDAQ:CYTK)

United Services Automobile Association acquired a new stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTKGet Rating) in the third quarter, Holdings Channel reports. The firm acquired 10,634 shares of the biopharmaceutical company’s stock, valued at approximately $515,000.

A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Cytokinetics by 8.6% during the third quarter. BlackRock Inc. now owns 14,569,992 shares of the biopharmaceutical company’s stock valued at $705,918,000 after buying an additional 1,156,696 shares during the last quarter. Vanguard Group Inc. raised its stake in Cytokinetics by 11.5% during the third quarter. Vanguard Group Inc. now owns 9,991,334 shares of the biopharmaceutical company’s stock valued at $484,081,000 after buying an additional 1,031,114 shares during the last quarter. State Street Corp raised its stake in shares of Cytokinetics by 7.3% in the second 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. RTW Investments LP raised its stake in shares of Cytokinetics by 0.5% in the third quarter. RTW Investments LP now owns 2,574,198 shares of the biopharmaceutical company’s stock worth $124,720,000 after purchasing an additional 13,016 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Cytokinetics by 20.7% in the third quarter. Bank of New York Mellon Corp now owns 1,372,769 shares of the biopharmaceutical company’s stock worth $66,510,000 after purchasing an additional 235,823 shares during the last quarter.

Insider Activity at Cytokinetics

In related news, CAO Robert Wong sold 2,234 shares of the business’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $45.21, for a total transaction of $100,999.14. Following the completion of the transaction, the chief accounting officer now directly owns 24,789 shares in the company, valued at $1,120,710.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cytokinetics news, CAO Robert Wong sold 2,234 shares of the company’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $45.21, for a total value of $100,999.14. Following the completion of the transaction, the chief accounting officer now owns 24,789 shares in the company, valued at $1,120,710.69. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Fady Ibraham Malik sold 4,000 shares of the business’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $39.10, for a total transaction of $156,400.00. Following the sale, the executive vice president now directly owns 171,183 shares of the company’s stock, valued at approximately $6,693,255.30. The disclosure for this sale can be found here. Insiders sold 49,738 shares of company stock worth $2,095,329 over the last three months. Company insiders own 5.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CYTK shares. Cantor Fitzgerald restated an “overweight” rating and issued a $61.00 price target on shares of Cytokinetics in a research note on Tuesday, March 7th. Oppenheimer decreased their price target on Cytokinetics from $55.00 to $54.00 and set an “outperform” rating for the company in a research note on Wednesday, March 1st. Bank of America started coverage on Cytokinetics in a research note on Friday, February 17th. They issued a “neutral” rating and a $49.00 price target for the company. The Goldman Sachs Group decreased their price objective on Cytokinetics from $56.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, March 2nd. Finally, HC Wainwright raised their target price on shares of Cytokinetics from $29.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, December 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Cytokinetics currently has an average rating of “Moderate Buy” and a consensus price target of $57.71.

Cytokinetics Trading Up 1.3 %

NASDAQ:CYTK opened at $37.76 on Wednesday. Cytokinetics, Incorporated has a 12 month low of $33.10 and a 12 month high of $55.80. The firm has a fifty day simple moving average of $42.46 and a 200-day simple moving average of $44.45. The company has a current ratio of 9.40, a quick ratio of 9.40 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $3.59 billion, a P/E ratio of -8.96 and a beta of 0.85.

Cytokinetics (NASDAQ:CYTKGet Rating) last posted its earnings results on Wednesday, March 1st. The biopharmaceutical company reported ($1.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.23). The business had revenue of $1.96 million for the quarter, compared to analyst estimates of $7.10 million. Cytokinetics had a negative net margin of 410.89% and a negative return on equity of 1,401.63%. The company’s revenue for the quarter was down 96.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.36) earnings per share. On average, equities research analysts anticipate that Cytokinetics, Incorporated will post -4.41 earnings per share for the current year.

Cytokinetics Profile

(Get Rating)

Cytokinetics, Inc is a biopharmaceutical company, which is focused on discovering, developing, and commercializing muscle activators and muscle inhibitors as potential treatments for people with debilitating diseases in which muscle performance is compromised and/or declining. The firm is developing small molecule drug candidates specifically engineered to impact muscle function and contractility.

See Also

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Institutional Ownership by Quarter for Cytokinetics (NASDAQ:CYTK)

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