Alyeska Investment Group L.P. Has $7.06 Million Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Alyeska Investment Group L.P. boosted its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 500.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,000 shares of the biopharmaceutical company’s stock after acquiring an additional 125,000 shares during the quarter. Alyeska Investment Group L.P.’s holdings in Cytokinetics were worth $7,056,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CYTK. Vanguard Group Inc. increased its stake in shares of Cytokinetics by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock worth $560,520,000 after purchasing an additional 154,216 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in Cytokinetics by 11.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company’s stock worth $505,780,000 after buying an additional 1,062,136 shares during the last quarter. Marshall Wace LLP raised its stake in Cytokinetics by 14.9% in the fourth quarter. Marshall Wace LLP now owns 2,153,313 shares of the biopharmaceutical company’s stock valued at $101,292,000 after buying an additional 279,612 shares during the period. Northern Trust Corp lifted its position in shares of Cytokinetics by 10.7% in the fourth quarter. Northern Trust Corp now owns 1,471,489 shares of the biopharmaceutical company’s stock valued at $69,219,000 after buying an additional 141,835 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Cytokinetics by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,335,189 shares of the biopharmaceutical company’s stock worth $62,807,000 after acquiring an additional 13,798 shares during the period.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus began coverage on Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price target on the stock. Bank of America cut their target price on shares of Cytokinetics from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Barclays began coverage on shares of Cytokinetics in a report on Thursday, April 24th. They issued an “overweight” rating and a $55.00 price target on the stock. Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. Finally, Morgan Stanley set a $67.00 target price on Cytokinetics in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.88.

Cytokinetics Trading Down 1.8 %

CYTK opened at $36.67 on Tuesday. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of -6.82 and a beta of 0.81. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a twelve month low of $32.74 and a twelve month high of $68.44. The company has a 50-day simple moving average of $41.15 and a 200 day simple moving average of $46.50.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.03. The firm had revenue of $16.93 million for the quarter, compared to the consensus estimate of $14.26 million. Analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Andrew Callos sold 4,002 shares of the business’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $36.68, for a total transaction of $146,793.36. Following the completion of the transaction, the executive vice president now owns 60,687 shares of the company’s stock, valued at approximately $2,225,999.16. The trade was a 6.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert I. Blum sold 16,970 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $43.44, for a total value of $737,176.80. Following the completion of the sale, the chief executive officer now directly owns 364,181 shares in the company, valued at $15,820,022.64. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,362 shares of company stock worth $3,899,118 over the last three months. Insiders own 2.70% of the company’s stock.

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.