Bellevue Group AG Sells 3,260 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Bellevue Group AG lessened its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 17.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 15,640 shares of the biopharmaceutical company’s stock after selling 3,260 shares during the period. Bellevue Group AG’s holdings in Cytokinetics were worth $1,097,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Caprock Group LLC acquired a new stake in Cytokinetics in the fourth quarter worth $216,000. State of Alaska Department of Revenue raised its position in Cytokinetics by 0.9% in the fourth quarter. State of Alaska Department of Revenue now owns 60,322 shares of the biopharmaceutical company’s stock worth $5,036,000 after acquiring an additional 517 shares during the period. China Universal Asset Management Co. Ltd. raised its position in Cytokinetics by 360.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,341 shares of the biopharmaceutical company’s stock worth $947,000 after acquiring an additional 8,878 shares during the period. DekaBank Deutsche Girozentrale raised its position in Cytokinetics by 36.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 75,000 shares of the biopharmaceutical company’s stock worth $6,131,000 after acquiring an additional 20,000 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Cytokinetics by 4.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,747 shares of the biopharmaceutical company’s stock worth $4,487,000 after acquiring an additional 2,063 shares during the period.

Insider Activity at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 15,547 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $65.11, for a total value of $1,012,265.17. Following the sale, the executive vice president now owns 137,056 shares in the company, valued at approximately $8,923,716.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director B Lynne Parshall sold 5,000 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $55.82, for a total transaction of $279,100.00. Following the transaction, the director now directly owns 20,600 shares in the company, valued at $1,149,892. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Fady Ibraham Malik sold 15,547 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $65.11, for a total transaction of $1,012,265.17. Following the sale, the executive vice president now directly owns 137,056 shares of the company’s stock, valued at approximately $8,923,716.16. The disclosure for this sale can be found here. Insiders have sold a total of 145,079 shares of company stock worth $7,814,083 over the last quarter. Insiders own 3.40% of the company’s stock.

Cytokinetics Stock Down 3.0 %

Shares of CYTK stock traded down $1.77 on Monday, hitting $57.92. The stock had a trading volume of 607,266 shares, compared to its average volume of 2,517,552. The business has a 50 day moving average price of $53.99 and a 200 day moving average price of $65.60. The company has a market cap of $6.07 billion, a PE ratio of -11.05 and a beta of 0.75. Cytokinetics, Incorporated has a one year low of $25.98 and a one year high of $110.25.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.17). The firm had revenue of $0.84 million during the quarter, compared to analyst estimates of $0.91 million. The business’s revenue was down 81.8% on a year-over-year basis. During the same quarter last year, the firm earned ($1.38) EPS. Equities research analysts expect that Cytokinetics, Incorporated will post -4.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Oppenheimer lowered their price objective on shares of Cytokinetics from $107.00 to $106.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. JMP Securities lowered their price target on shares of Cytokinetics from $106.00 to $78.00 and set a “market outperform” rating on the stock in a research report on Tuesday, May 28th. HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Cytokinetics in a research report on Monday, June 17th. Barclays cut their price target on shares of Cytokinetics from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Finally, Truist Financial cut their price target on shares of Cytokinetics from $86.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.06.

Cytokinetics Company 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.