Cytokinetics, Inc. (NASDAQ:CYTK) Shares Bought by Parametric Portfolio Associates LLC

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Parametric Portfolio Associates LLC grew its stake in shares of Cytokinetics, Inc. (NASDAQ:CYTK) by 32.7% in the second quarter, HoldingsChannel reports. The fund owned 104,570 shares of the biopharmaceutical company’s stock after buying an additional 25,783 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Cytokinetics were worth $1,176,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CYTK. Northern Trust Corp grew its holdings in shares of Cytokinetics by 24.5% during the 2nd quarter. Northern Trust Corp now owns 676,985 shares of the biopharmaceutical company’s stock worth $7,616,000 after purchasing an additional 133,189 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Cytokinetics by 33.8% during the 2nd quarter. Renaissance Technologies LLC now owns 368,300 shares of the biopharmaceutical company’s stock worth $4,143,000 after purchasing an additional 93,000 shares during the period. Panagora Asset Management Inc. grew its holdings in shares of Cytokinetics by 655,561.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 85,236 shares of the biopharmaceutical company’s stock worth $959,000 after purchasing an additional 85,223 shares during the period. FMR LLC grew its holdings in shares of Cytokinetics by 3.9% during the 1st quarter. FMR LLC now owns 1,926,824 shares of the biopharmaceutical company’s stock worth $15,589,000 after purchasing an additional 73,141 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of Cytokinetics by 211.7% during the 2nd quarter. Wells Fargo & Company MN now owns 89,557 shares of the biopharmaceutical company’s stock worth $1,008,000 after purchasing an additional 60,829 shares during the period. 74.57% of the stock is owned by institutional investors.

CYTK has been the subject of a number of research reports. BidaskClub cut Cytokinetics from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. HC Wainwright reiterated a “buy” rating and set a $26.00 target price on shares of Cytokinetics in a report on Friday, October 4th. JMP Securities set a $23.00 target price on Cytokinetics and gave the stock a “buy” rating in a report on Friday, September 13th. Zacks Investment Research upgraded Cytokinetics from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $16.00 target price on shares of Cytokinetics in a report on Friday, October 4th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $18.71.

In other Cytokinetics news, CEO Robert I. Blum sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $12.74, for a total value of $76,440.00. Following the completion of the transaction, the chief executive officer now owns 244,022 shares in the company, valued at approximately $3,108,840.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 22,500 shares of company stock valued at $275,565. 5.70% of the stock is owned by company insiders.

NASDAQ CYTK opened at $11.18 on Friday. The stock has a market cap of $656.04 million, a PE ratio of -5.73 and a beta of 1.55. Cytokinetics, Inc. has a fifty-two week low of $5.75 and a fifty-two week high of $14.94. The business has a 50 day moving average price of $12.77 and a two-hundred day moving average price of $11.02. The company has a quick ratio of 8.42, a current ratio of 8.42 and a debt-to-equity ratio of 12.35.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.06). The company had revenue of $7.14 million during the quarter, compared to analysts’ expectations of $6.81 million. Cytokinetics had a negative return on equity of 575.21% and a negative net margin of 308.73%. Sell-side analysts anticipate that Cytokinetics, Inc. will post -2 EPS for the current fiscal year.

Cytokinetics Company Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. The company is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.

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Institutional Ownership by Quarter for Cytokinetics (NASDAQ:CYTK)

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