Pictet Asset Management Holding SA Buys 214,060 Shares of Cytokinetics, Incorporated $CYTK

Pictet Asset Management Holding SA boosted its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 18.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,374,523 shares of the biopharmaceutical company’s stock after acquiring an additional 214,060 shares during the period. Pictet Asset Management Holding SA owned 1.10% of Cytokinetics worth $90,569,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CYTK. Commonwealth Equity Services LLC grew its holdings in Cytokinetics by 3.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 4,925 shares of the biopharmaceutical company’s stock worth $325,000 after acquiring an additional 179 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of Cytokinetics by 71.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 458 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 191 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Cytokinetics by 8.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,700 shares of the biopharmaceutical company’s stock valued at $178,000 after purchasing an additional 213 shares in the last quarter. AlphaCentric Advisors LLC raised its stake in shares of Cytokinetics by 4.1% in the 3rd quarter. AlphaCentric Advisors LLC now owns 5,933 shares of the biopharmaceutical company’s stock valued at $391,000 after purchasing an additional 236 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its stake in shares of Cytokinetics by 3.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 9,263 shares of the biopharmaceutical company’s stock valued at $611,000 after purchasing an additional 340 shares in the last quarter.

Wall Street Analysts Forecast Growth

CYTK has been the subject of a number of research reports. William Blair assumed coverage on Cytokinetics in a research note on Friday, October 16th. They issued an “outperform” rating for the company. UBS Group reissued a “buy” rating and issued a $104.00 price objective on shares of Cytokinetics in a report on Wednesday, October 14th. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research note on Friday, September 11th. Needham & Company LLC increased their target price on Cytokinetics from $102.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, Citigroup increased their target price on Cytokinetics from $99.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. Nineteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $106.67.

Insider Buying and Selling

In other Cytokinetics news, Director B. Parshall sold 5,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $71.48, for a total value of $357,400.00. Following the sale, the director directly owned 10,784 shares of the company’s stock, valued at $770,840.32. This trade represents a 31.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Callos sold 10,000 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $70.24, for a total value of $702,400.00. Following the completion of the sale, the executive vice president directly owned 58,555 shares in the company, valued at $4,112,903.20. This represents a 14.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 173,426 shares of company stock valued at $11,934,640 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Cytokinetics Stock Up 2.7%

Shares of CYTK stock opened at $55.14 on Tuesday. The company has a market cap of $6.86 billion, a P/E ratio of -9.13 and a beta of 0.45. The business has a 50 day moving average of $65.34 and a two-hundred day moving average of $69.93. Cytokinetics, Incorporated has a 52 week low of $53.55 and a 52 week high of $88.31.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Wednesday, November 4th. The biopharmaceutical company reported ($1.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.43) by $0.06. The company had revenue of $47.56 million for the quarter, compared to analyst estimates of $41.88 million. The firm’s revenue for the quarter was up 2356.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.55) earnings per share. Analysts expect that Cytokinetics, Incorporated will post -5.86 EPS for the current fiscal year.

Cytokinetics Company Profile

Cytokinetics is a biopharmaceutical company focused on discovering and developing medicines that target the biology of muscle function. Its research centers on therapies for conditions involving impaired cardiac muscle performance.

The company’s work includes aficamten, a cardiac myosin inhibitor developed for hypertrophic cardiomyopathy, and other drug candidates designed to affect muscle contraction. Cytokinetics conducts research and clinical development through programs that may involve patients and collaborators in multiple countries.

Founded in 1997, Cytokinetics is based in South San Francisco, California.