Aberdeen Group plc Boosts Position in Cytokinetics, Incorporated $CYTK

Aberdeen Group plc lifted its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 53.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 922,929 shares of the biopharmaceutical company’s stock after purchasing an additional 320,508 shares during the quarter. Aberdeen Group plc’s holdings in Cytokinetics were worth $30,494,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mirador Capital Partners LP grew its holdings in shares of Cytokinetics by 45.6% during the second quarter. Mirador Capital Partners LP now owns 144,347 shares of the biopharmaceutical company’s stock worth $4,769,000 after purchasing an additional 45,222 shares in the last quarter. United Services Automobile Association bought a new stake in Cytokinetics in the 1st quarter worth approximately $331,000. E. Ohman J or Asset Management AB lifted its position in Cytokinetics by 23.6% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 407,037 shares of the biopharmaceutical company’s stock worth $13,449,000 after buying an additional 77,806 shares during the last quarter. GAMMA Investing LLC lifted its position in Cytokinetics by 281.0% in the 1st quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 826 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in Cytokinetics by 33.8% in the 1st quarter. Intech Investment Management LLC now owns 67,261 shares of the biopharmaceutical company’s stock worth $2,703,000 after buying an additional 16,988 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. B. Riley boosted their target price on Cytokinetics from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Stifel Nicolaus boosted their target price on Cytokinetics from $87.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, September 2nd. HC Wainwright restated a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a research report on Monday, September 29th. Wall Street Zen upgraded Cytokinetics from a “strong sell” rating to a “hold” rating in a research report on Sunday, August 10th. Finally, Barclays boosted their target price on Cytokinetics from $71.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $76.64.

Insider Activity at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $49.28, for a total transaction of $98,560.00. Following the completion of the transaction, the executive vice president owned 140,610 shares in the company, valued at $6,929,260.80. This represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $55.05, for a total value of $275,250.00. Following the transaction, the chief executive officer owned 368,108 shares of the company’s stock, valued at approximately $20,264,345.40. This represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,208 shares of company stock worth $2,364,831 over the last quarter. 3.40% of the stock is owned by corporate insiders.

Cytokinetics Stock Down 0.4%

Shares of Cytokinetics stock opened at $60.04 on Monday. The company has a market cap of $7.18 billion, a PE ratio of -11.77 and a beta of 0.67. The business has a 50 day moving average of $46.02 and a 200 day moving average of $39.10. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $61.48.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.12) EPS for the quarter, beating analysts’ consensus estimates of ($1.34) by $0.22. The business had revenue of $66.77 million for the quarter, compared to the consensus estimate of $1.95 million. Cytokinetics’s revenue was up 26727.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.31) EPS. On average, research analysts anticipate 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.