Ironwood Investment Management LLC Sells 460 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Ironwood Investment Management LLC reduced its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,085 shares of the biopharmaceutical company’s stock after selling 460 shares during the quarter. Cytokinetics accounts for approximately 1.4% of Ironwood Investment Management LLC’s investment portfolio, making the stock its 16th largest holding. Ironwood Investment Management LLC’s holdings in Cytokinetics were worth $2,779,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. raised its holdings in shares of Cytokinetics by 16.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 7,640 shares of the biopharmaceutical company’s stock valued at $403,000 after purchasing an additional 1,072 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in Cytokinetics by 9.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 42,851 shares of the biopharmaceutical company’s stock worth $2,263,000 after buying an additional 3,654 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Cytokinetics by 10.7% during the third quarter. Oppenheimer & Co. Inc. now owns 8,546 shares of the biopharmaceutical company’s stock worth $451,000 after buying an additional 824 shares during the period. Royce & Associates LP boosted its position in Cytokinetics by 70.2% during the 3rd quarter. Royce & Associates LP now owns 24,250 shares of the biopharmaceutical company’s stock valued at $1,280,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of Cytokinetics by 10.2% in the 3rd quarter. Swiss National Bank now owns 215,500 shares of the biopharmaceutical company’s stock valued at $11,378,000 after acquiring an additional 20,000 shares during the period.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CYTK shares. Citigroup started coverage on Cytokinetics in a research note on Friday, February 7th. They set a “buy” rating and a $86.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research report on Thursday, February 6th. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a research report on Friday, February 28th. JMP Securities reissued a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a research report on Friday, February 7th. Finally, Royal Bank of Canada raised their target price on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Two research 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

Cytokinetics Trading Down 0.1 %

Cytokinetics stock opened at $44.36 on Friday. The stock has a 50-day moving average price of $46.34 and a 200 day moving average price of $50.39. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of -8.25 and a beta of 0.95. Cytokinetics, Incorporated has a 52 week low of $40.53 and a 52 week high of $75.71. 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 (NASDAQ:CYTK) last released its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, beating the consensus estimate of ($1.29) by $0.03. The business had revenue of $16.93 million during the quarter, compared to analysts’ expectations of $14.26 million. Sell-side analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Insider Buying and Selling at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $49.32, for a total transaction of $98,640.00. Following the sale, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at $5,724,621.72. This trade represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert I. Blum sold 16,970 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 364,181 shares of the company’s stock, valued at $15,820,022.64. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,153 shares of company stock worth $1,300,870. Insiders own 3.40% of the company’s stock.

Cytokinetics Company Profile

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.