Cytokinetics, Incorporated $CYTK is Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.’s 8th Largest Position

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. lowered its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 37.3% in the fourth quarter, Holdings Channel reports. The firm owned 747,983 shares of the biopharmaceutical company’s stock after selling 444,501 shares during the period. Cytokinetics makes up about 4.2% of Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.’s investment portfolio, making the stock its 8th biggest position. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.’s holdings in Cytokinetics were worth $47,527,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Cytokinetics by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 12,048,131 shares of the biopharmaceutical company’s stock worth $765,538,000 after acquiring an additional 191,336 shares in the last quarter. Deep Track Capital LP lifted its position in Cytokinetics by 17.8% during the 3rd quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company’s stock worth $236,328,000 after acquiring an additional 650,000 shares in the last quarter. Geode Capital Management LLC lifted its position in Cytokinetics by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 3,056,017 shares of the biopharmaceutical company’s stock worth $194,214,000 after acquiring an additional 15,815 shares in the last quarter. Vestal Point Capital LP lifted its position in Cytokinetics by 14.8% during the 2nd quarter. Vestal Point Capital LP now owns 2,975,000 shares of the biopharmaceutical company’s stock worth $98,294,000 after acquiring an additional 384,469 shares in the last quarter. Finally, Woodline Partners LP lifted its position in Cytokinetics by 676.1% during the 3rd quarter. Woodline Partners LP now owns 1,647,725 shares of the biopharmaceutical company’s stock worth $90,559,000 after acquiring an additional 1,435,422 shares in the last quarter.

Cytokinetics Stock Down 2.0%

Shares of CYTK opened at $67.07 on Thursday. The business’s 50 day moving average is $70.26 and its two-hundred day moving average is $66.01. Cytokinetics, Incorporated has a 52-week low of $31.99 and a 52-week high of $80.20. The firm has a market cap of $8.35 billion, a price-to-earnings ratio of -9.81 and a beta of 0.42.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($1.67). The business had revenue of $19.36 million during the quarter, compared to analyst estimates of $8.52 million. During the same period in the previous year, the company earned ($1.36) earnings per share. The business’s revenue for the quarter was up 1112.5% on a year-over-year basis. On average, equities analysts expect that Cytokinetics, Incorporated will post -6.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CYTK has been the topic of several recent research reports. Stifel Nicolaus boosted their price target on Cytokinetics from $98.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Truist Financial set a $106.00 price target on Cytokinetics in a research report on Tuesday, May 5th. Mizuho boosted their price target on Cytokinetics from $84.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cytokinetics in a research report on Monday, April 20th. Finally, JPMorgan Chase & Co. boosted their price target on Cytokinetics from $92.00 to $97.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Cytokinetics presently has an average rating of “Moderate Buy” and an average price target of $99.30.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 36,601 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $62.15, for a total value of $2,274,752.15. Following the transaction, the chief executive officer directly owned 430,330 shares of the company’s stock, valued at $26,745,009.50. This represents a 7.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Fady Ibraham Malik sold 12,033 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $62.15, for a total value of $747,850.95. Following the sale, the executive vice president directly owned 153,902 shares in the company, valued at approximately $9,565,009.30. This represents a 7.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 171,989 shares of company stock valued at $11,393,064 in the last three months. Corporate insiders own 2.60% of the company’s stock.

About Cytokinetics

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.