Invesco Ltd. cut its stake in Cytokinetics, Inc. (NASDAQ:CYTK) by 25.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 350,444 shares of the biopharmaceutical company’s stock after selling 122,396 shares during the quarter. Invesco Ltd.’s holdings in Cytokinetics were worth $3,942,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CYTK. Vanguard Group Inc. lifted its holdings in shares of Cytokinetics by 3.9% during the second quarter. Vanguard Group Inc. now owns 3,961,497 shares of the biopharmaceutical company’s stock valued at $44,566,000 after purchasing an additional 147,849 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Cytokinetics by 2.2% during the second quarter. BlackRock Inc. now owns 9,058,271 shares of the biopharmaceutical company’s stock valued at $101,905,000 after purchasing an additional 195,445 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of Cytokinetics by 32.7% during the second quarter. Parametric Portfolio Associates LLC now owns 104,570 shares of the biopharmaceutical company’s stock valued at $1,176,000 after purchasing an additional 25,783 shares during the last quarter. Athanor Capital LP purchased a new position in shares of Cytokinetics during the second quarter valued at approximately $242,000. Finally, Northern Trust Corp lifted its holdings in shares of Cytokinetics by 24.5% during the second quarter. Northern Trust Corp now owns 676,985 shares of the biopharmaceutical company’s stock valued at $7,616,000 after purchasing an additional 133,189 shares during the last quarter. Institutional investors and hedge funds own 76.17% of the company’s stock.

NASDAQ:CYTK traded up $0.36 during trading hours on Monday, reaching $11.54. The company had a trading volume of 3,172 shares, compared to its average volume of 476,608. The company has a current ratio of 8.42, a quick ratio of 8.42 and a debt-to-equity ratio of 12.35. Cytokinetics, Inc. has a 52 week low of $5.75 and a 52 week high of $14.94. The firm has a market cap of $648.42 million, a price-to-earnings ratio of -5.82 and a beta of 1.55. The firm’s 50 day moving average price is $12.77 and its 200-day moving average price is $11.02.

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

In other Cytokinetics news, CEO Robert I. Blum sold 6,000 shares of Cytokinetics stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $12.74, for a total value of $76,440.00. Following the completion of the sale, the chief executive officer now owns 244,022 shares of the company’s stock, valued at approximately $3,108,840.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 16,500 shares of company stock valued at $209,925. 5.70% of the stock is currently owned by insiders.

CYTK has been the subject of several analyst reports. HC Wainwright reissued a “buy” rating and set a $26.00 price target on shares of Cytokinetics in a research report on Friday, October 4th. Piper Jaffray Companies reissued an “overweight” rating and set a $20.00 price target (up previously from $14.00) on shares of Cytokinetics in a research report on Monday, September 16th. JMP Securities set a $23.00 price target on shares of Cytokinetics and gave the company a “buy” rating in a research report on Friday, September 13th. Zacks Investment Research raised shares of Cytokinetics from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, ValuEngine downgraded shares of Cytokinetics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Cytokinetics has a consensus rating of “Buy” and a consensus price target of $18.71.

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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