J. Safra Sarasin Holding AG Acquires 40,399 Shares of Cytokinetics, Incorporated $CYTK

J. Safra Sarasin Holding AG grew its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 145.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,190 shares of the biopharmaceutical company’s stock after acquiring an additional 40,399 shares during the period. J. Safra Sarasin Holding AG’s holdings in Cytokinetics were worth $2,253,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Fifth Third Bancorp increased its holdings in Cytokinetics by 42.2% in the 1st quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 291 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Cytokinetics by 500.5% in the first quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company’s stock worth $44,000 after acquiring an additional 916 shares during the period. GAMMA Investing LLC lifted its holdings in Cytokinetics by 281.0% in the 1st quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 826 shares in the last quarter. UMB Bank n.a. grew its holdings in Cytokinetics by 91.4% during the 1st quarter. UMB Bank n.a. now owns 1,156 shares of the biopharmaceutical company’s stock valued at $46,000 after buying an additional 552 shares in the last quarter. Finally, Assetmark Inc. raised its position in shares of Cytokinetics by 11,510.0% during the first quarter. Assetmark Inc. now owns 1,161 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 1,151 shares during the last quarter.

Insiders Place Their Bets

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $49.28, for a total transaction of $98,560.00. Following the transaction, the executive vice president directly owned 140,610 shares in the company, valued at $6,929,260.80. This trade represents a 1.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $38.15, for a total value of $190,750.00. Following the completion of the sale, the chief executive officer owned 393,108 shares of the company’s stock, valued at $14,997,070.20. This represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,451 shares of company stock worth $2,096,561 in the last three months. Corporate insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Evercore ISI boosted their price target on shares of Cytokinetics from $60.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 3rd. Raymond James Financial assumed coverage on Cytokinetics in a research note on Wednesday, July 30th. They issued a “market perform” rating on the stock. Wall Street Zen upgraded Cytokinetics from a “strong sell” rating to a “hold” rating in a research report on Sunday, August 10th. JMP Securities restated a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research report on Tuesday, September 2nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Cytokinetics from $71.00 to $53.00 and set an “overweight” rating on the stock in a research note on Monday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Cytokinetics presently has a consensus rating of “Moderate Buy” and an average price target of $75.86.

Cytokinetics Stock Up 1.2%

Shares of Cytokinetics stock opened at $56.97 on Friday. The stock’s fifty day moving average is $43.64 and its two-hundred day moving average is $38.61. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $59.39. The company has a market capitalization of $6.82 billion, a PE ratio of -11.17 and a beta of 0.67.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.34) by $0.22. The company had revenue of $66.77 million for the quarter, compared to analysts’ expectations of $1.95 million. The firm’s revenue for the quarter was up 26727.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.31) earnings per share. As a group, research analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

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.