Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Bought by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. raised its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 145.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,862 shares of the biopharmaceutical company’s stock after purchasing an additional 49,628 shares during the period. EFG Asset Management North America Corp. owned 0.07% of Cytokinetics worth $3,943,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. EntryPoint Capital LLC lifted its stake in Cytokinetics by 23.8% in the 4th quarter. EntryPoint Capital LLC now owns 10,923 shares of the biopharmaceutical company’s stock valued at $514,000 after buying an additional 2,098 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Cytokinetics by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock valued at $560,520,000 after acquiring an additional 154,216 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Cytokinetics by 6.6% in the fourth quarter. LPL Financial LLC now owns 13,988 shares of the biopharmaceutical company’s stock worth $658,000 after acquiring an additional 870 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Cytokinetics in the fourth quarter worth approximately $1,082,000. Finally, American Century Companies Inc. increased its position in shares of Cytokinetics by 8.4% during the fourth quarter. American Century Companies Inc. now owns 356,576 shares of the biopharmaceutical company’s stock worth $16,773,000 after purchasing an additional 27,619 shares in the last quarter.

Insider Activity at Cytokinetics

In other Cytokinetics news, EVP Andrew Callos sold 3,341 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $43.27, for a total transaction of $144,565.07. Following the sale, the executive vice president now directly owns 64,434 shares in the company, valued at $2,788,059.18. This represents a 4.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert I. Blum sold 16,970 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $43.44, for a total transaction of $737,176.80. Following the completion of the transaction, the chief executive officer now owns 364,181 shares of the company’s stock, valued at approximately $15,820,022.64. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,834 shares of company stock worth $1,949,275. 3.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CYTK has been the topic of several recent research reports. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a research note on Friday, February 7th. Stifel Nicolaus initiated coverage on shares of Cytokinetics in a research report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a report on Friday, February 28th. Morgan Stanley set a $67.00 target price on shares of Cytokinetics in a research note on Friday, March 7th. Finally, Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a research report on Friday, February 7th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cytokinetics currently has an average rating of “Moderate Buy” and an average target price of $82.00.

Cytokinetics Price Performance

Cytokinetics stock opened at $46.57 on Tuesday. The company’s 50 day simple moving average is $45.96 and its 200-day simple moving average is $49.82. 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 1 year low of $40.53 and a 1 year high of $75.71. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of -8.66 and a beta of 0.95.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.03. The firm had revenue of $16.93 million during the quarter, compared to analysts’ expectations of $14.26 million. As a group, equities research analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current 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.