Deutsche Bank AG increased its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 41.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,589 shares of the biopharmaceutical company’s stock after purchasing an additional 39,526 shares during the period. Deutsche Bank AG owned approximately 0.16% of Cytokinetics worth $4,845,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. FMR LLC boosted its holdings in Cytokinetics by 3.9% during the first quarter. FMR LLC now owns 1,926,824 shares of the biopharmaceutical company’s stock valued at $15,589,000 after acquiring an additional 73,141 shares during the period. OLD Mission Capital LLC bought a new stake in Cytokinetics during the third quarter valued at about $239,000. Envestnet Asset Management Inc. boosted its holdings in Cytokinetics by 8.9% during the second quarter. Envestnet Asset Management Inc. now owns 20,477 shares of the biopharmaceutical company’s stock valued at $405,000 after acquiring an additional 1,680 shares during the period. US Bancorp DE boosted its holdings in Cytokinetics by 144.8% during the second quarter. US Bancorp DE now owns 1,687 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 998 shares during the period. Finally, Sei Investments Co. boosted its holdings in Cytokinetics by 1.9% during the second quarter. Sei Investments Co. now owns 30,417 shares of the biopharmaceutical company’s stock valued at $593,000 after acquiring an additional 574 shares during the period.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Cytokinetics from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Tuesday. Cantor Fitzgerald increased their price target on shares of Cytokinetics from $48.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 12th. HC Wainwright raised their price objective on shares of Cytokinetics from $62.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday, December 21st. JMP Securities reaffirmed a “buy” rating on shares of Cytokinetics in a report on Thursday, November 4th. Finally, Oppenheimer assumed coverage on shares of Cytokinetics in a research note on Tuesday, December 21st. They set an “outperform” rating and a $55.00 price target on the stock. Fourteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cytokinetics has an average rating of “Buy” and a consensus target price of $52.43.
Shares of CYTK stock opened at $33.00 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 6.12 and a current ratio of 6.12. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of -10.68 and a beta of 1.23. Cytokinetics, Incorporated has a 52 week low of $17.72 and a 52 week high of $47.90. The company has a 50-day simple moving average of $39.50 and a 200 day simple moving average of $34.07.
Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Wednesday, November 3rd. The biopharmaceutical company reported ($0.95) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.75) by ($0.20). The company had revenue of $5.44 million for the quarter, compared to analyst estimates of $5.46 million. Cytokinetics had a negative return on equity of 204.75% and a negative net margin of 1,061.13%. During the same quarter in the prior year, the company earned ($0.05) earnings per share. Sell-side analysts forecast that Cytokinetics, Incorporated will post -3.23 EPS for the current year.
Cytokinetics, Inc operates as a biopharmaceutical company. The firm focuses on the discovery and development of muscle activators as potential treatment for debilitating diseases. It conducts a Phase 2 clinical trials program for tirasemtiv, including a Phase 2b clinical trial in patients with ALS, known as BENEFIT-ALS (Blinded Evaluation of Neuromuscular Effects and Functional Improvement with Tirasemtiv in ALS).
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