DNB Asset Management AS Has $392,000 Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

DNB Asset Management AS raised its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 9.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,231 shares of the biopharmaceutical company’s stock after purchasing an additional 645 shares during the quarter. DNB Asset Management AS’s holdings in Cytokinetics were worth $392,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CYTK. DekaBank Deutsche Girozentrale boosted its holdings in shares of Cytokinetics by 36.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 75,000 shares of the biopharmaceutical company’s stock valued at $6,131,000 after purchasing an additional 20,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Cytokinetics by 4.0% in 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 purchasing an additional 2,063 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Cytokinetics in the 4th quarter valued at $263,000. Mutual of America Capital Management LLC boosted its holdings in shares of Cytokinetics by 2.0% in the 4th quarter. Mutual of America Capital Management LLC now owns 17,162 shares of the biopharmaceutical company’s stock valued at $1,433,000 after purchasing an additional 337 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Cytokinetics in the 4th quarter valued at $4,099,000.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CYTK shares. Oppenheimer reduced their target price on Cytokinetics from $107.00 to $106.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. JMP Securities cut their price objective on Cytokinetics from $106.00 to $78.00 and set a “market outperform” rating on the stock in a report on Tuesday, May 28th. HC Wainwright reissued a “buy” rating and set a $90.00 price objective on shares of Cytokinetics in a report on Monday, June 17th. Barclays cut their price objective on Cytokinetics from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Finally, Raymond James cut their price objective on Cytokinetics from $92.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $77.06.

Cytokinetics Stock Performance

Shares of CYTK stock traded down $0.01 during mid-day trading on Wednesday, hitting $53.53. The company’s stock had a trading volume of 39,840 shares, compared to its average volume of 2,455,433. The company’s fifty day simple moving average is $54.52 and its 200-day simple moving average is $64.28. Cytokinetics, Incorporated has a 52 week low of $25.98 and a 52 week high of $110.25. The company has a market cap of $5.61 billion, a PE ratio of -9.91 and a beta of 0.75.

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

Insider Activity at Cytokinetics

In related news, CAO Robert Wong sold 13,011 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $48.88, for a total value of $635,977.68. Following the completion of the sale, the chief accounting officer now directly owns 16,653 shares of the company’s stock, valued at approximately $813,998.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Cytokinetics news, CAO Robert Wong sold 13,011 shares of Cytokinetics stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $48.88, for a total transaction of $635,977.68. Following the completion of the transaction, the chief accounting officer now owns 16,653 shares in the company, valued at approximately $813,998.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director B Lynne Parshall sold 5,000 shares of Cytokinetics stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $59.84, for a total value of $299,200.00. Following the transaction, the director now owns 20,600 shares of the company’s stock, valued at approximately $1,232,704. The disclosure for this sale can be found here. Insiders sold 146,032 shares of company stock valued at $7,785,153 in the last three months. Corporate insiders own 3.40% of the company’s stock.

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.