UBS Group AG Boosts Position in Cytokinetics, Incorporated (CYTK)
UBS Group AG boosted its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 16.9% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 14,281 shares of the biopharmaceutical company’s stock after buying an additional 2,060 shares during the period. UBS Group AG’s holdings in Cytokinetics, were worth $183,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in CYTK. Parametric Portfolio Associates LLC boosted its stake in Cytokinetics, by 1.4% in the first quarter. Parametric Portfolio Associates LLC now owns 13,333 shares of the biopharmaceutical company’s stock worth $171,000 after buying an additional 189 shares during the last quarter. American International Group Inc. boosted its stake in shares of Cytokinetics, by 7.1% in the first quarter. American International Group Inc. now owns 20,852 shares of the biopharmaceutical company’s stock worth $268,000 after buying an additional 1,380 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Cytokinetics, by 4.0% in the fourth quarter. Teachers Advisors LLC now owns 53,278 shares of the biopharmaceutical company’s stock worth $647,000 after buying an additional 2,025 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Cytokinetics, by 9.3% in the first quarter. TIAA CREF Investment Management LLC now owns 107,548 shares of the biopharmaceutical company’s stock worth $1,382,000 after buying an additional 9,162 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Cytokinetics, by 4.1% in the first quarter. Geode Capital Management LLC now owns 296,683 shares of the biopharmaceutical company’s stock worth $3,812,000 after buying an additional 11,747 shares in the last quarter. 59.76% of the stock is owned by hedge funds and other institutional investors.
Cytokinetics, Incorporated (NASDAQ:CYTK) traded down 1.772% during trading on Tuesday, hitting $12.475. The stock had a trading volume of 46,318 shares. Cytokinetics, Incorporated has a 12-month low of $8.51 and a 12-month high of $17.20. The company’s market capitalization is $601.51 million. The stock has a 50 day moving average price of $13.67 and a 200 day moving average price of $12.96.
Cytokinetics, (NASDAQ:CYTK) last issued its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by $0.03. Cytokinetics, had a negative net margin of 16.00% and a negative return on equity of 14.15%. The firm had revenue of $3.05 million during the quarter, compared to analyst estimates of $5.28 million. Equities research analysts forecast that Cytokinetics, Incorporated will post ($2.08) earnings per share for the current year.
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A number of brokerages have weighed in on CYTK. Zacks Investment Research raised Cytokinetics, from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Monday. BidaskClub raised Cytokinetics, from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Cowen and Company reaffirmed a “buy” rating and issued a $19.00 price target on shares of Cytokinetics, in a research report on Friday. HC Wainwright set a $26.00 price target on Cytokinetics, and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Finally, Morgan Stanley began coverage on Cytokinetics, in a research report on Monday, July 31st. They issued an “overweight” rating and a $24.00 price target for the company. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Cytokinetics, has a consensus rating of “Buy” and an average target price of $21.30.
In related news, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $13.62, for a total value of $68,100.00. Following the completion of the sale, the chief executive officer now directly owns 94,785 shares in the company, valued at approximately $1,290,971.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 15,000 shares of company stock valued at $197,750 over the last quarter. 7.20% of the stock is currently owned by company insiders.
Cytokinetics, Company Profile
Cytokinetics, Incorporated is a late-stage biopharmaceutical company. The Company is focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions.
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