UBS Group AG Sells 691,595 Shares of Cytokinetics, Incorporated $CYTK

UBS Group AG reduced its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 37.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,131,456 shares of the biopharmaceutical company’s stock after selling 691,595 shares during the period. UBS Group AG’s holdings in Cytokinetics were worth $71,893,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. boosted its holdings in shares of Cytokinetics by 10.6% in the third quarter. UMB Bank n.a. now owns 1,762 shares of the biopharmaceutical company’s stock valued at $97,000 after buying an additional 169 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of Cytokinetics by 8.1% during the third quarter. CIBC Private Wealth Group LLC now owns 3,484 shares of the biopharmaceutical company’s stock worth $191,000 after acquiring an additional 261 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Cytokinetics by 32.3% during 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. Thrivent Financial for Lutherans raised its holdings in shares of Cytokinetics by 1.6% during the second quarter. Thrivent Financial for Lutherans now owns 28,119 shares of the biopharmaceutical company’s stock worth $929,000 after acquiring an additional 449 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in Cytokinetics by 68.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,115 shares of the biopharmaceutical company’s stock valued at $61,000 after acquiring an additional 453 shares in the last quarter.

Wall Street Analysts Forecast Growth

CYTK has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 target price on shares of Cytokinetics in a research note on Friday, January 9th. Needham & Company LLC boosted their price target on Cytokinetics from $84.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Bank of America reaffirmed a “neutral” rating on shares of Cytokinetics in a research report on Wednesday, February 25th. Leerink Partners reiterated an “outperform” rating on shares of Cytokinetics in a report on Tuesday, March 10th. Finally, Morgan Stanley set a $90.00 target price on Cytokinetics in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Cytokinetics presently has an average rating of “Moderate Buy” and an average price target of $90.55.

Insider Transactions at Cytokinetics

In related news, CEO Robert I. Blum sold 36,601 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $62.15, for a total value of $2,274,752.15. Following the sale, the chief executive officer owned 430,330 shares in the company, valued at approximately $26,745,009.50. This represents a 7.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew Callos sold 26,000 shares of the firm’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $61.87, for a total value of $1,608,620.00. Following the sale, the executive vice president directly owned 50,440 shares of the company’s stock, valued at $3,120,722.80. This represents a 34.01% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 165,619 shares of company stock worth $10,337,819. 2.60% of the stock is owned by company insiders.

Cytokinetics Stock Performance

Shares of CYTK stock opened at $63.35 on Monday. Cytokinetics, Incorporated has a 52-week low of $29.31 and a 52-week high of $70.98. The stock has a market cap of $7.87 billion, a price-to-earnings ratio of -9.70 and a beta of 0.38. The firm’s 50-day moving average is $63.81 and its 200-day moving average is $63.53.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.02). The business had revenue of $17.76 million during the quarter, compared to analysts’ expectations of $8.02 million. The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.26) earnings per share. Sell-side analysts predict that Cytokinetics, Incorporated will post -6.31 EPS for the current fiscal year.

About Cytokinetics

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.