Schroder Investment Management Group Sells 5,536,292 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Schroder Investment Management Group decreased its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 97.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 149,433 shares of the biopharmaceutical company’s stock after selling 5,536,292 shares during the period. Schroder Investment Management Group owned approximately 0.13% of Cytokinetics worth $7,046,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Harvey Capital Management Inc. bought a new stake in Cytokinetics in the fourth quarter worth $1,040,000. abrdn plc lifted its stake in shares of Cytokinetics by 29.4% in the 4th quarter. abrdn plc now owns 450,513 shares of the biopharmaceutical company’s stock valued at $21,192,000 after acquiring an additional 102,457 shares during the last quarter. AlphaQuest LLC lifted its stake in shares of Cytokinetics by 113,500.0% in the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 1,135 shares during the last quarter. Vanguard Group Inc. grew its position in Cytokinetics by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock worth $560,520,000 after acquiring an additional 154,216 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Cytokinetics by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,335,189 shares of the biopharmaceutical company’s stock worth $62,807,000 after purchasing an additional 13,798 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CYTK shares. Morgan Stanley set a $67.00 target price on shares of Cytokinetics in a report on Friday, March 7th. HC Wainwright reissued a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a report on Friday. Royal Bank of Canada upped their price objective on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Stifel Nicolaus began coverage on Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 target price on the stock. Finally, Citigroup began coverage on Cytokinetics in a research report on Friday, February 7th. They set a “buy” rating and a $86.00 price target for the company. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.00.

Cytokinetics Price Performance

Shares of CYTK opened at $37.36 on Friday. The firm’s 50-day simple moving average is $44.93 and its two-hundred day simple moving average is $49.03. Cytokinetics, Incorporated has a fifty-two week low of $36.89 and a fifty-two week high of $75.71. The stock has a market cap of $4.42 billion, a PE ratio of -6.94 and a beta of 0.94. 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 Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.03. The company had revenue of $16.93 million for the quarter, compared to the consensus estimate of $14.26 million. Analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Insider Transactions at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 15,000 shares of Cytokinetics stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $40.75, for a total value of $611,250.00. Following the completion of the transaction, the chief executive officer now directly owns 427,629 shares of the company’s stock, valued at approximately $17,425,881.75. The trade was a 3.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrew Callos sold 3,341 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $43.27, for a total transaction of $144,565.07. Following the sale, the executive vice president now owns 64,434 shares in the company, valued at approximately $2,788,059.18. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,284 shares of company stock valued at $2,578,268 in the last quarter. 3.40% of the stock is owned by 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.