Skandinaviska Enskilda Banken AB publ Purchases 26,332 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Skandinaviska Enskilda Banken AB publ lifted its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 16.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 182,126 shares of the biopharmaceutical company’s stock after purchasing an additional 26,332 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Cytokinetics were worth $8,585,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Swiss National Bank grew its holdings in shares of Cytokinetics by 2.0% during the fourth quarter. Swiss National Bank now owns 219,800 shares of the biopharmaceutical company’s stock worth $10,339,000 after purchasing an additional 4,300 shares during the last quarter. Great Lakes Advisors LLC bought a new stake in Cytokinetics in the fourth quarter valued at approximately $1,580,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Cytokinetics by 7.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,258 shares of the biopharmaceutical company’s stock valued at $1,329,000 after acquiring an additional 1,882 shares during the last quarter. AlphaQuest LLC boosted its holdings in Cytokinetics by 113,500.0% in the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 1,135 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Cytokinetics in the fourth quarter valued at approximately $254,000.

Analysts Set New Price Targets

Several analysts recently commented on CYTK shares. JMP Securities reiterated a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a report on Friday, February 7th. Morgan Stanley set a $67.00 target price on Cytokinetics in a report on Friday, March 7th. Royal Bank of Canada upped their target price on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Stifel Nicolaus started 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. Finally, Citigroup started coverage on Cytokinetics in a research note on Friday, February 7th. They issued a “buy” rating and a $86.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.00.

Insider Activity at Cytokinetics

In related news, Director Wendall Wierenga sold 742 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $48.61, for a total value of $36,068.62. Following the completion of the sale, the director now directly owns 24,559 shares of the company’s stock, valued at approximately $1,193,812.99. This represents a 2.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $49.32, for a total value of $98,640.00. Following the completion of the sale, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at $5,724,621.72. The trade was a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,153 shares of company stock valued at $1,300,870. 3.40% of the stock is owned by insiders.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK opened at $44.36 on Friday. 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 $40.53 and a twelve month high of $75.71. The stock’s 50 day moving average is $46.34 and its 200-day moving average is $50.39. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of -8.25 and a beta of 0.95.

Cytokinetics (NASDAQ:CYTK) last issued its 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 analyst estimates of $14.26 million. Sell-side analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Cytokinetics 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.