Fisher Asset Management LLC Invests $44.75 Million in Cytokinetics, Incorporated (NASDAQ:CYTK)

Fisher Asset Management LLC purchased a new position in Cytokinetics, Incorporated (NASDAQ:CYTK) in the 4th quarter, Holdings Channel.com reports. The fund purchased 535,954 shares of the biopharmaceutical company’s stock, valued at approximately $44,747,000.

Several other institutional investors have also added to or reduced their stakes in the business. TD Asset Management Inc lifted its stake in shares of Cytokinetics by 35.9% in the 3rd quarter. TD Asset Management Inc now owns 99,640 shares of the biopharmaceutical company’s stock valued at $2,935,000 after acquiring an additional 26,297 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Cytokinetics in the 4th quarter worth approximately $46,308,000. Vanguard Group Inc. lifted its position in Cytokinetics by 4.6% in the third quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company’s stock valued at $316,498,000 after purchasing an additional 472,595 shares during the last quarter. HealthInvest Partners AB purchased a new stake in shares of Cytokinetics during the fourth quarter valued at approximately $980,000. Finally, Legato Capital Management LLC purchased a new stake in shares of Cytokinetics during the fourth quarter valued at approximately $1,305,000.

Insiders Place Their Bets

In other news, Director John T. Henderson sold 5,000 shares of Cytokinetics stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $76.48, for a total transaction of $382,400.00. Following the completion of the transaction, the director now directly owns 42,632 shares in the company, valued at $3,260,495.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Cytokinetics news, EVP Fady Ibraham Malik sold 32,604 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $67.56, for a total value of $2,202,726.24. Following the sale, the executive vice president now directly owns 138,973 shares of the company’s stock, valued at $9,389,015.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John T. Henderson sold 5,000 shares of Cytokinetics stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $76.48, for a total value of $382,400.00. Following the completion of the transaction, the director now directly owns 42,632 shares of the company’s stock, valued at approximately $3,260,495.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,376 shares of company stock worth $8,275,252. 3.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $108.00 target price on shares of Cytokinetics in a research note on Tuesday, April 9th. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 price objective (up from $60.00) on shares of Cytokinetics in a research note on Friday, January 5th. HC Wainwright restated a “buy” rating and set a $94.00 price target on shares of Cytokinetics in a report on Wednesday, February 28th. Oppenheimer reiterated an “outperform” rating and issued a $107.00 price objective on shares of Cytokinetics in a report on Monday, March 4th. Finally, StockNews.com cut Cytokinetics from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Cytokinetics has an average rating of “Moderate Buy” and a consensus price target of $79.33.

Cytokinetics Stock Up 1.4 %

Shares of CYTK stock opened at $65.27 on Friday. The business’s fifty day moving average is $68.57 and its 200 day moving average is $60.82. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of -11.98 and a beta of 0.72. Cytokinetics, Incorporated has a twelve month low of $25.98 and a twelve month high of $110.25.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The company had revenue of $1.70 million for the quarter, compared to the consensus estimate of $7.62 million. During the same period last year, the firm posted ($1.45) EPS. Cytokinetics’s quarterly revenue was down 10.5% compared to the same quarter last year. Equities research analysts expect that Cytokinetics, Incorporated will post -4.5 earnings per share 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. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.