Vanguard Group Inc. Sells 127,043 Shares of Cytokinetics, Incorporated $CYTK

Vanguard Group Inc. cut its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 1.1% in the third quarter, HoldingsChannel.com reports. The firm owned 11,856,795 shares of the biopharmaceutical company’s stock after selling 127,043 shares during the quarter. Vanguard Group Inc. owned about 0.10% of Cytokinetics worth $651,649,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CYTK. EverSource Wealth Advisors LLC boosted its holdings in Cytokinetics by 723.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 673 shares during the period. Hantz Financial Services Inc. lifted its position in shares of Cytokinetics by 2,872.7% in the second quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 1,264 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Cytokinetics by 32.3% in the third quarter. Fifth Third Bancorp now owns 1,072 shares of the biopharmaceutical company’s stock worth $59,000 after acquiring an additional 262 shares during the period. Farther Finance Advisors LLC grew its position in shares of Cytokinetics by 68.4% during the third quarter. Farther Finance Advisors LLC now owns 1,115 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 453 shares in the last quarter. Finally, Root Financial Partners LLC bought a new stake in Cytokinetics during the 3rd quarter valued at approximately $80,000.

Insider Buying and Selling at Cytokinetics

In other news, EVP Andrew Callos sold 52,486 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $65.95, for a total transaction of $3,461,451.70. Following the transaction, the executive vice president owned 50,660 shares of the company’s stock, valued at approximately $3,341,027. This represents a 50.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Wendell Wierenga sold 20,000 shares of the stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $66.14, for a total value of $1,322,800.00. Following the completion of the sale, the director owned 32,444 shares in the company, valued at approximately $2,145,846.16. The trade was a 38.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 151,385 shares of company stock valued at $9,817,158. 3.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CYTK has been the subject of several recent analyst reports. UBS Group restated a “neutral” rating and issued a $61.00 price target on shares of Cytokinetics in a research note on Monday, December 1st. Royal Bank Of Canada upped their target price on shares of Cytokinetics from $95.00 to $101.00 and gave the stock an “outperform” rating in a research report on Friday. Needham & Company LLC lifted their price target on shares of Cytokinetics from $72.00 to $84.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Morgan Stanley set a $90.00 price objective on shares of Cytokinetics in a report on Thursday, January 8th. Finally, HC Wainwright lifted their target price on Cytokinetics from $120.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Sixteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cytokinetics has a consensus rating of “Moderate Buy” and an average price target of $88.28.

Cytokinetics Stock Up 0.5%

Shares of CYTK opened at $68.26 on Tuesday. Cytokinetics, Incorporated has a 52-week low of $29.31 and a 52-week high of $70.98. The business has a fifty day moving average of $63.98 and a 200 day moving average of $58.07. The company has a market cap of $8.35 billion, a PE ratio of -10.85 and a beta of 0.54.

Cytokinetics Company Profile

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.