Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC increased its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 542,284 shares of the biopharmaceutical company’s stock after purchasing an additional 7,764 shares during the quarter. Fisher Asset Management LLC owned 0.46% of Cytokinetics worth $28,633,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CYTK. Westfield Capital Management Co. LP grew its position in shares of Cytokinetics by 38.9% during the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock worth $64,040,000 after buying an additional 339,373 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Cytokinetics by 42.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock valued at $69,769,000 after acquiring an additional 395,709 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Cytokinetics by 24.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 344,448 shares of the biopharmaceutical company’s stock worth $18,187,000 after acquiring an additional 68,381 shares during the last quarter. Intech Investment Management LLC acquired a new position in Cytokinetics during the 3rd quarter worth approximately $1,725,000. Finally, Ontario Teachers Pension Plan Board purchased a new stake in shares of Cytokinetics in the 3rd quarter valued at approximately $592,000.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK opened at $52.02 on Wednesday. Cytokinetics, Incorporated has a one year low of $30.68 and a one year high of $110.25. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of -9.67 and a beta of 0.78. The company has a 50-day simple moving average of $53.47 and a 200-day simple moving average of $54.57. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The business had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $1.21 million. The firm’s revenue was up 22.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.35) earnings per share. On average, analysts predict that Cytokinetics, Incorporated will post -5.25 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on CYTK. JPMorgan Chase & Co. lifted their price objective on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. The Goldman Sachs Group cut Cytokinetics from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $85.00 to $60.00 in a research report on Tuesday, August 13th. Royal Bank of Canada began coverage on Cytokinetics in a research report on Friday, November 8th. They set an “outperform” rating and a $80.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a report on Wednesday, November 20th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.93.

Insider Buying and Selling

In related news, Director Wendall Wierenga sold 4,452 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $52.25, for a total transaction of $232,617.00. Following the completion of the transaction, the director now directly owns 24,559 shares of the company’s stock, valued at $1,283,207.75. This represents a 15.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Fady Ibraham Malik sold 7,384 shares of Cytokinetics stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $57.01, for a total value of $420,961.84. Following the completion of the sale, the executive vice president now directly owns 122,920 shares in the company, valued at $7,007,669.20. This represents a 5.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,378 shares of company stock valued at $3,880,287 over the last three months. 3.40% of the stock is currently owned by company insiders.

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.