Mackenzie Financial Corp Purchases Shares of 6,059 Cytokinetics, Incorporated (NASDAQ:CYTK)

Mackenzie Financial Corp acquired a new stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,059 shares of the biopharmaceutical company’s stock, valued at approximately $506,000.

Several other hedge funds have also modified their holdings of CYTK. Louisiana State Employees Retirement System acquired a new stake in shares of Cytokinetics during the fourth quarter worth approximately $4,099,000. Mutual of America Capital Management LLC lifted its stake in shares of Cytokinetics by 2.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 17,162 shares of the biopharmaceutical company’s stock valued at $1,433,000 after buying an additional 337 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of Cytokinetics in the 4th quarter worth approximately $263,000. HC Advisors LLC bought a new position in Cytokinetics in the fourth quarter worth $271,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Cytokinetics by 4.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,747 shares of the biopharmaceutical company’s stock valued at $4,487,000 after acquiring an additional 2,063 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently commented on CYTK shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $108.00 price target on shares of Cytokinetics in a research note on Tuesday, April 9th. UBS Group cut shares of Cytokinetics from a “buy” rating to a “neutral” rating and increased their price target for the company from $61.00 to $92.00 in a research note on Wednesday, January 24th. Oppenheimer reiterated an “outperform” rating and issued a $107.00 price objective on shares of Cytokinetics in a research report on Monday, March 4th. StockNews.com lowered shares of Cytokinetics from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $94.00 price target on shares of Cytokinetics in a research note on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $79.33.

Insider Buying and Selling

In related news, CEO Robert I. Blum sold 12,500 shares of Cytokinetics stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $79.57, for a total transaction of $994,625.00. Following the completion of the sale, the chief executive officer now directly owns 441,797 shares of the company’s stock, valued at approximately $35,153,787.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Cytokinetics news, CEO Robert I. Blum sold 12,500 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $79.57, for a total transaction of $994,625.00. Following the transaction, the chief executive officer now owns 441,797 shares in the company, valued at approximately $35,153,787.29. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total transaction of $2,585,576.50. Following the completion of the sale, the executive vice president now owns 142,973 shares of the company’s stock, valued at $11,337,758.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 125,876 shares of company stock valued at $9,269,877. Company insiders own 3.40% of the company’s stock.

Cytokinetics Stock Up 0.8 %

CYTK stock opened at $65.34 on Friday. Cytokinetics, Incorporated has a twelve month low of $25.98 and a twelve month high of $110.25. The business has a 50 day moving average price of $69.91 and a two-hundred day moving average price of $59.82. The company has a market cap of $6.83 billion, a price-to-earnings ratio of -11.99 and a beta of 0.68.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The business had revenue of $1.70 million during the quarter, compared to analysts’ expectations of $7.62 million. During the same quarter last year, the company earned ($1.45) EPS. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, equities research analysts anticipate that Cytokinetics, Incorporated will post -4.5 EPS for the current fiscal year.

About Cytokinetics

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.