Pictet Asset Management Holding SA Trims Stock Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Pictet Asset Management Holding SA lowered its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 8.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,911,999 shares of the biopharmaceutical company’s stock after selling 176,568 shares during the period. Pictet Asset Management Holding SA’s holdings in Cytokinetics were worth $89,940,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Cytokinetics during the fourth quarter worth approximately $46,556,000. Checkpoint Capital L.P. grew its position in shares of Cytokinetics by 145.7% in the 3rd quarter. Checkpoint Capital L.P. now owns 466,813 shares of the biopharmaceutical company’s stock worth $24,648,000 after buying an additional 276,813 shares during the period. Two Sigma Advisers LP bought a new position in shares of Cytokinetics in the 3rd quarter worth about $11,336,000. Janus Henderson Group PLC lifted its position in Cytokinetics by 17.2% during the 3rd quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock valued at $60,399,000 after acquiring an additional 167,501 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Cytokinetics by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock worth $560,520,000 after acquiring an additional 154,216 shares in the last quarter.

Cytokinetics Stock Up 0.5 %

Cytokinetics stock opened at $43.19 on Friday. The stock has a market cap of $5.11 billion, a PE ratio of -8.03 and a beta of 0.95. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The stock has a fifty day moving average of $45.75 and a 200 day moving average of $49.55. Cytokinetics, Incorporated has a one year low of $40.53 and a one year high of $75.71.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $14.26 million. As a group, sell-side analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CYTK shares. Citigroup assumed coverage on Cytokinetics in a research report on Friday, February 7th. They set a “buy” rating and a $86.00 price objective for the company. Royal Bank of Canada increased their price objective on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Evercore ISI raised shares of Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. Stifel Nicolaus began coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 target price on the stock. Finally, 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. Two 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.00.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, EVP Andrew Callos sold 2,775 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $44.38, for a total value of $123,154.50. Following the completion of the transaction, the executive vice president now directly owns 34,888 shares in the company, valued at $1,548,329.44. This represents a 7.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $49.32, for a total transaction 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 approximately $5,724,621.72. This trade represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,834 shares of company stock valued at $1,949,275. Insiders own 3.40% of the company’s stock.

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.