Principal Financial Group Inc. Grows Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

Principal Financial Group Inc. lifted its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTKGet Rating) by 13.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 677,116 shares of the biopharmaceutical company’s stock after acquiring an additional 77,885 shares during the quarter. Principal Financial Group Inc. owned 0.81% of Cytokinetics worth $30,863,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of CYTK. BlackRock Inc. grew its stake in shares of Cytokinetics by 13.8% during the third quarter. BlackRock Inc. now owns 13,262,947 shares of the biopharmaceutical company’s stock valued at $474,017,000 after purchasing an additional 1,608,545 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of Cytokinetics during the third quarter worth $35,742,000. Artal Group S.A. raised its holdings in shares of Cytokinetics by 160.0% during the third quarter. Artal Group S.A. now owns 1,300,000 shares of the biopharmaceutical company’s stock worth $46,462,000 after acquiring an additional 800,000 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Cytokinetics by 208.2% during the third quarter. Point72 Asset Management L.P. now owns 1,009,300 shares of the biopharmaceutical company’s stock worth $36,072,000 after acquiring an additional 681,800 shares during the period. Finally, Hood River Capital Management LLC bought a new position in Cytokinetics in the third quarter valued at $22,289,000.

A number of brokerages have recently commented on CYTK. Needham & Company LLC lifted their price objective on shares of Cytokinetics from $52.00 to $60.00 in a research report on Thursday, May 5th. StockNews.com started coverage on shares of Cytokinetics in a research report on Thursday, March 31st. They issued a “sell” rating for the company. Zacks Investment Research cut shares of Cytokinetics from a “buy” rating to a “hold” rating in a research report on Monday, February 21st. Cantor Fitzgerald reduced their target price on shares of Cytokinetics from $57.00 to $53.00 in a report on Thursday, February 17th. Finally, HC Wainwright boosted their target price on shares of Cytokinetics from $69.00 to $75.00 in a report on Friday, April 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cytokinetics presently has an average rating of “Buy” and a consensus target price of $55.50.

Shares of NASDAQ:CYTK opened at $42.01 on Friday. The company has a current ratio of 9.33, a quick ratio of 7.45 and a debt-to-equity ratio of 1.68. Cytokinetics, Incorporated has a twelve month low of $17.72 and a twelve month high of $47.90. The company has a 50-day moving average price of $38.02 and a two-hundred day moving average price of $37.55.

Cytokinetics (NASDAQ:CYTKGet Rating) last issued its earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.09). The business had revenue of $1.15 million for the quarter, compared to the consensus estimate of $4.72 million. Cytokinetics had a negative return on equity of 163.01% and a negative net margin of 396.22%. Cytokinetics’s revenue for the quarter was down 82.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.66) EPS. As a group, sell-side analysts anticipate that Cytokinetics, Incorporated will post -4.33 EPS for the current fiscal year.

In other news, EVP Fady Ibraham Malik sold 13,987 shares of the firm’s stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $37.54, for a total value of $525,071.98. Following the completion of the transaction, the executive vice president now directly owns 168,084 shares in the company, valued at $6,309,873.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mark A. Schlossberg sold 25,196 shares of the firm’s stock in a transaction that occurred on Tuesday, March 15th. The shares were sold at an average price of $33.96, for a total transaction of $855,656.16. The disclosure for this sale can be found here. Insiders sold 179,183 shares of company stock valued at $6,811,713 over the last 90 days. 5.00% of the stock is owned by company insiders.

Cytokinetics Company Profile (Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding CYTK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cytokinetics, Incorporated (NASDAQ:CYTKGet Rating).

Institutional Ownership by Quarter for Cytokinetics (NASDAQ:CYTK)

Receive News & Ratings for Cytokinetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cytokinetics and related companies with MarketBeat.com's FREE daily email newsletter.