Cytokinetics, Incorporated $CYTK Shares Sold by Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. lessened its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 37.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 747,983 shares of the biopharmaceutical company’s stock after selling 444,501 shares during the quarter. Cytokinetics makes up about 4.2% of Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.’s holdings, making the stock its 8th largest position. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. owned about 0.61% of Cytokinetics worth $47,527,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in Cytokinetics by 723.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 673 shares in the last quarter. Quarry LP purchased a new stake in Cytokinetics during the 3rd quarter worth about $30,000. TD Waterhouse Canada Inc. purchased a new stake in Cytokinetics during the 4th quarter worth about $32,000. Advisory Services Network LLC purchased a new stake in Cytokinetics during the 3rd quarter worth about $32,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in Cytokinetics by 46.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 171 shares in the last quarter.

Cytokinetics Price Performance

CYTK opened at $67.07 on Thursday. The stock has a market capitalization of $8.35 billion, a price-to-earnings ratio of -9.81 and a beta of 0.42. The business has a 50-day moving average of $70.26 and a two-hundred day moving average of $66.01. Cytokinetics, Incorporated has a 12 month low of $31.99 and a 12 month high of $80.20.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) EPS for the quarter, meeting the consensus estimate of ($1.67). The business had revenue of $19.36 million during the quarter, compared to analysts’ expectations of $8.52 million. The firm’s quarterly revenue was up 1112.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.36) EPS. Equities research analysts anticipate that Cytokinetics, Incorporated will post -6.29 earnings per share for the current year.

Insider Buying and Selling

In other Cytokinetics news, Director Edward M. Md Kaye sold 2,933 shares of Cytokinetics stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $76.09, for a total value of $223,171.97. Following the completion of the sale, the director owned 10,283 shares in the company, valued at $782,433.47. The trade was a 22.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert I. Blum sold 7,500 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $77.21, for a total value of $579,075.00. Following the sale, the chief executive officer owned 392,830 shares of the company’s stock, valued at $30,330,404.30. The trade was a 1.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 171,989 shares of company stock worth $11,393,064 over the last ninety days. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. UBS Group set a $119.00 price objective on Cytokinetics in a research report on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytokinetics in a research report on Monday, April 20th. Mizuho lifted their price objective on Cytokinetics from $84.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 18th. Leerink Partners reiterated an “outperform” rating on shares of Cytokinetics in a research report on Tuesday, March 10th. Finally, HC Wainwright lifted their price objective on Cytokinetics from $136.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Cytokinetics has an average rating of “Moderate Buy” and an average price target of $99.30.

Cytokinetics Profile

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.