Cytokinetics, Incorporated $CYTK Shares Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. grew its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 151,987.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 565,765 shares of the biopharmaceutical company’s stock after purchasing an additional 565,393 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Cytokinetics were worth $35,949,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CYTK. EverSource Wealth Advisors LLC lifted its stake in Cytokinetics by 723.7% during the second quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 673 shares in the last quarter. Quarry LP acquired a new stake in shares of Cytokinetics in the third quarter valued at $30,000. TD Waterhouse Canada Inc. acquired a new stake in shares of Cytokinetics in the fourth quarter valued at $32,000. Advisory Services Network LLC acquired a new stake in shares of Cytokinetics in the third quarter valued at $32,000. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Cytokinetics in the third quarter valued at $40,000.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 7,500 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $77.92, for a total value of $584,400.00. Following the sale, the chief executive officer directly owned 400,330 shares in the company, valued at $31,193,713.60. This trade represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Fady Ibraham Malik sold 3,500 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $77.37, for a total value of $270,795.00. Following the completion of the sale, the executive vice president owned 153,902 shares in the company, valued at approximately $11,907,397.74. This represents a 2.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 177,476 shares of company stock worth $11,294,769 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Cytokinetics Price Performance

Cytokinetics stock opened at $75.18 on Tuesday. Cytokinetics, Incorporated has a 1-year low of $29.81 and a 1-year high of $80.20. The stock has a market cap of $9.35 billion, a PE ratio of -10.99 and a beta of 0.38. The stock’s fifty day moving average is $66.19 and its two-hundred day moving average is $64.73.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share 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 quarter in the prior year, the business earned ($1.36) earnings per share. The firm’s quarterly revenue was up 1112.5% on a year-over-year basis. On average, research analysts expect that Cytokinetics, Incorporated will post -6.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CYTK has been the topic of several analyst reports. Mizuho increased their price objective on Cytokinetics from $84.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, March 18th. Barclays increased their price objective on Cytokinetics from $87.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, April 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytokinetics in a research note on Monday, April 20th. Citigroup initiated coverage on Cytokinetics in a research note on Monday. They issued a “buy” rating on the stock. Finally, Robert W. Baird set a $84.00 price objective on Cytokinetics in a research note on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.55.

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.