Skandinaviska Enskilda Banken AB publ Boosts Position in Cytokinetics, Incorporated $CYTK

Skandinaviska Enskilda Banken AB publ grew its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 280.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 149,957 shares of the biopharmaceutical company’s stock after acquiring an additional 110,568 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.13% of Cytokinetics worth $8,242,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CYTK. Millennium Management LLC grew its position in Cytokinetics by 361.9% during the 1st quarter. Millennium Management LLC now owns 287,901 shares of the biopharmaceutical company’s stock worth $11,571,000 after purchasing an additional 225,576 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in Cytokinetics by 12.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,591 shares of the biopharmaceutical company’s stock worth $449,000 after acquiring an additional 1,509 shares during the period. State of New Jersey Common Pension Fund D raised its position in Cytokinetics by 50.6% during the second quarter. State of New Jersey Common Pension Fund D now owns 61,783 shares of the biopharmaceutical company’s stock valued at $2,041,000 after acquiring an additional 20,751 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Cytokinetics by 21.2% in the second quarter. Envestnet Asset Management Inc. now owns 29,467 shares of the biopharmaceutical company’s stock valued at $974,000 after acquiring an additional 5,146 shares during the period. Finally, Teacher Retirement System of Texas boosted its position in Cytokinetics by 1.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 30,514 shares of the biopharmaceutical company’s stock worth $1,008,000 after purchasing an additional 341 shares in the last quarter.

Cytokinetics Stock Up 0.5%

Shares of CYTK opened at $66.98 on Thursday. Cytokinetics, Incorporated has a 52-week low of $29.31 and a 52-week high of $70.98. The stock has a market cap of $8.19 billion, a PE ratio of -10.65 and a beta of 0.54. The firm’s fifty day moving average is $63.63 and its two-hundred day moving average is $57.24.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, EVP Andrew Callos sold 15,000 shares of the business’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $61.93, for a total transaction of $928,950.00. Following the transaction, the executive vice president owned 50,440 shares of the company’s stock, valued at approximately $3,123,749.20. The trade was a 22.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Wendell Wierenga sold 20,000 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $66.14, for a total value of $1,322,800.00. Following the completion of the sale, the director directly owned 32,444 shares of the company’s stock, valued at $2,145,846.16. This trade represents a 38.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 151,385 shares of company stock worth $9,817,158. Insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CYTK shares. Truist Financial boosted their target price on shares of Cytokinetics from $84.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. UBS Group reiterated a “neutral” rating and issued a $61.00 price objective on shares of Cytokinetics in a research report on Monday, December 1st. Leerink Partners set a $83.00 price target on Cytokinetics in a report on Monday, December 22nd. JPMorgan Chase & Co. upped their price objective on shares of Cytokinetics from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Finally, Morgan Stanley set a $90.00 target price on shares of Cytokinetics in a research report on Thursday, January 8th. Sixteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Cytokinetics presently has an average rating of “Moderate Buy” and a consensus target price of $87.94.

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.