Legal & General Group Plc Sells 2,168 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Legal & General Group Plc reduced its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 1.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 178,632 shares of the biopharmaceutical company’s stock after selling 2,168 shares during the period. Legal & General Group Plc owned 0.15% of Cytokinetics worth $8,403,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Stifel Financial Corp grew its holdings in Cytokinetics by 8.5% in the third quarter. Stifel Financial Corp now owns 25,067 shares of the biopharmaceutical company’s stock worth $1,324,000 after purchasing an additional 1,959 shares during the last quarter. Retirement Systems of Alabama raised its stake in Cytokinetics by 1.0% in the third quarter. Retirement Systems of Alabama now owns 142,930 shares of the biopharmaceutical company’s stock valued at $7,547,000 after buying an additional 1,414 shares during the last quarter. Exome Asset Management LLC acquired a new stake in Cytokinetics in the third quarter worth about $3,093,000. Harbor Capital Advisors Inc. grew its stake in shares of Cytokinetics by 6.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 45,130 shares of the biopharmaceutical company’s stock worth $2,123,000 after acquiring an additional 2,604 shares during the last quarter. Finally, Mirador Capital Partners LP increased its holdings in shares of Cytokinetics by 1.6% during the fourth quarter. Mirador Capital Partners LP now owns 65,636 shares of the biopharmaceutical company’s stock valued at $3,088,000 after acquiring an additional 1,010 shares in the last quarter.

Analysts Set New Price Targets

Several research firms have weighed in on CYTK. Needham & Company LLC reissued a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research report on Tuesday, April 8th. Stifel Nicolaus started coverage on shares of Cytokinetics in a report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 price objective on the stock. Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. JMP Securities reiterated a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a research note on Thursday, April 10th. Finally, Morgan Stanley set a $67.00 price objective on Cytokinetics in a research note on Friday, March 7th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.63.

Insider Activity

In related news, CEO Robert I. Blum sold 16,970 shares of Cytokinetics stock in a transaction 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 sale, the chief executive officer now owns 364,181 shares of the company’s stock, valued at approximately $15,820,022.64. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John T. Henderson sold 3,190 shares of the business’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $38.66, for a total transaction of $123,325.40. Following the completion of the sale, the director now directly owns 66,348 shares of the company’s stock, valued at approximately $2,565,013.68. The trade was a 4.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,360 shares of company stock worth $2,890,065 over the last three months. 3.40% of the stock is currently owned by corporate insiders.

Cytokinetics Stock Performance

CYTK opened at $39.48 on Friday. The stock has a market cap of $4.71 billion, a P/E ratio of -7.34 and a beta of 0.94. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The firm has a fifty day moving average price of $42.63 and a 200 day moving average price of $47.75. Cytokinetics, Incorporated has a 1 year low of $32.74 and a 1 year high of $68.76.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.29) by $0.03. The firm had revenue of $16.93 million for the quarter, compared to analysts’ expectations of $14.26 million. Equities research analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current 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.