Groupama Asset Managment Purchases Shares of 350,000 Cytokinetics, Incorporated (NASDAQ:CYTK)

Groupama Asset Managment bought a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 350,000 shares of the biopharmaceutical company’s stock, valued at approximately $16,464,000. Groupama Asset Managment owned 0.30% of Cytokinetics at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp lifted its stake in Cytokinetics by 189.8% during the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 374 shares during the last quarter. Retirement Systems of Alabama lifted its stake in Cytokinetics by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company’s stock valued at $6,750,000 after purchasing an additional 565 shares during the last quarter. Arizona State Retirement System boosted its stake in Cytokinetics by 1.9% in the 4th quarter. Arizona State Retirement System now owns 32,366 shares of the biopharmaceutical company’s stock worth $1,522,000 after purchasing an additional 600 shares during the period. Inspire Investing LLC lifted its position in Cytokinetics by 7.8% in the 4th quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock worth $400,000 after buying an additional 616 shares in the last quarter. Finally, Centricity Wealth Management LLC acquired a new stake in Cytokinetics in the fourth quarter valued at approximately $29,000.

Cytokinetics Price Performance

Shares of CYTK stock opened at $40.19 on Tuesday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. Cytokinetics, Incorporated has a fifty-two week low of $39.81 and a fifty-two week high of $75.71. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of -7.47 and a beta of 0.95. The stock’s 50-day simple moving average is $45.64 and its 200-day simple moving average is $49.42.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.03. The company had revenue of $16.93 million for the quarter, compared to analyst estimates of $14.26 million. As a group, equities analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on CYTK shares. Royal Bank of Canada lifted their target price on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Needham & Company LLC restated a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a report on Thursday, February 6th. HC Wainwright reissued a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a research report on Friday, February 28th. Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a research report on Friday, February 7th. Finally, JMP Securities reissued a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research note on Friday, February 7th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.00.

Insider Activity

In related news, EVP Fady Ibraham Malik sold 2,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $49.32, for a total transaction of $98,640.00. Following the completion of the transaction, the executive vice president now owns 116,071 shares in the company, valued at approximately $5,724,621.72. The trade was a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Andrew Callos sold 2,775 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $44.38, for a total transaction of $123,154.50. Following the sale, the executive vice president now owns 34,888 shares of the company’s stock, valued at $1,548,329.44. This represents a 7.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,834 shares of company stock valued at $2,560,525. 3.40% of the stock is currently owned by insiders.

Cytokinetics 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.