Brown Advisory Inc. Reduces Holdings in Cytokinetics, Incorporated $CYTK

Brown Advisory Inc. decreased its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 19.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 731,154 shares of the biopharmaceutical company’s stock after selling 181,032 shares during the quarter. Brown Advisory Inc.’s holdings in Cytokinetics were worth $46,458,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its stake in Cytokinetics by 723.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 673 shares during the period. Kestra Advisory Services LLC bought a new stake in Cytokinetics during the 4th quarter worth approximately $29,000. Quarry LP bought a new stake in Cytokinetics during the 3rd quarter worth approximately $30,000. TD Waterhouse Canada Inc. bought a new stake in Cytokinetics during the 4th quarter worth approximately $32,000. Finally, Advisory Services Network LLC bought a new stake in Cytokinetics during the 3rd quarter worth approximately $32,000.

Analyst Ratings Changes

A number of equities research analysts have commented on CYTK shares. Royal Bank Of Canada raised their target price on shares of Cytokinetics from $101.00 to $119.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Stifel Nicolaus lifted their price objective on shares of Cytokinetics from $98.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of Cytokinetics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Bank of America reiterated a “neutral” rating on shares of Cytokinetics in a research report on Wednesday, February 25th. Finally, Morgan Stanley lifted their price objective on shares of Cytokinetics from $90.00 to $103.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $99.30.

Insiders Place Their Bets

In other Cytokinetics news, CEO Robert I. Blum sold 7,500 shares of Cytokinetics stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $77.21, for a total transaction of $579,075.00. Following the completion of the transaction, the chief executive officer directly owned 392,830 shares of the company’s stock, valued at $30,330,404.30. The trade was a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director B Lynne Parshall sold 5,000 shares of Cytokinetics stock in a transaction on Monday, June 1st. The stock was sold at an average price of $74.08, for a total transaction of $370,400.00. Following the transaction, the director directly owned 15,784 shares of the company’s stock, valued at $1,169,278.72. The trade was a 24.06% 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 sold 115,669 shares of company stock valued at $7,957,015 over the last three months. 2.60% of the stock is owned by company insiders.

Cytokinetics Stock Up 1.8%

NASDAQ CYTK opened at $71.38 on Tuesday. The company has a fifty day moving average of $70.50 and a two-hundred day moving average of $66.08. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of -10.44 and a beta of 0.42. Cytokinetics, Incorporated has a 52 week low of $31.99 and a 52 week high of $80.20.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) EPS for the quarter, hitting the consensus estimate of ($1.67). The firm had revenue of $19.36 million for the quarter, compared to analysts’ expectations of $8.52 million. The firm’s quarterly revenue was up 1112.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.36) earnings per share. Equities research analysts anticipate that Cytokinetics, Incorporated will post -6.29 EPS for the current year.

Cytokinetics Profile

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.