Cytokinetics, Incorporated $CYTK Shares Sold by Affinity Asset Advisors LLC

Affinity Asset Advisors LLC cut its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 12.4% during the first quarter, Holdings Channel reports. The institutional investor owned 700,483 shares of the biopharmaceutical company’s stock after selling 99,517 shares during the quarter. Cytokinetics comprises 2.4% of Affinity Asset Advisors LLC’s investment portfolio, making the stock its 11th biggest holding. Affinity Asset Advisors LLC’s holdings in Cytokinetics were worth $46,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Cytokinetics by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 12,048,131 shares of the biopharmaceutical company’s stock worth $765,538,000 after purchasing an additional 191,336 shares in the last quarter. Norges Bank acquired a new stake in shares of Cytokinetics in the fourth quarter valued at about $51,281,000. Royce & Associates LP lifted its stake in shares of Cytokinetics by 44.3% in the fourth quarter. Royce & Associates LP now owns 144,426 shares of the biopharmaceutical company’s stock valued at $9,177,000 after purchasing an additional 44,343 shares during the period. GW&K Investment Management LLC boosted its holdings in Cytokinetics by 161.5% during the fourth quarter. GW&K Investment Management LLC now owns 472,363 shares of the biopharmaceutical company’s stock worth $30,015,000 after buying an additional 291,693 shares in the last quarter. Finally, Eventide Asset Management LLC boosted its holdings in Cytokinetics by 181.9% during the fourth quarter. Eventide Asset Management LLC now owns 479,611 shares of the biopharmaceutical company’s stock worth $30,473,000 after buying an additional 309,503 shares in the last quarter.

Insider Buying and Selling

In related news, CEO Robert I. Blum sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $70.46, for a total transaction of $528,450.00. Following the transaction, the chief executive officer owned 385,330 shares of the company’s stock, valued at approximately $27,150,351.80. This represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Callos sold 15,857 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $65.00, for a total transaction of $1,030,705.00. Following the sale, the executive vice president owned 58,555 shares in the company, valued at approximately $3,806,075. This trade represents a 21.31% decrease in their position. 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. In the last three months, insiders sold 132,036 shares of company stock valued at $9,816,694. Company insiders own 2.60% of the company’s stock.

Cytokinetics Trading Down 1.4%

Cytokinetics stock opened at $80.74 on Friday. The stock has a 50-day moving average price of $78.54 and a 200 day moving average price of $69.83. Cytokinetics, Incorporated has a 52 week low of $32.89 and a 52 week high of $88.31. The stock has a market cap of $10.05 billion, a PE ratio of -11.80 and a beta of 0.42.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($1.67). The firm had revenue of $19.36 million during the quarter, compared to analysts’ expectations of $8.52 million. During the same quarter last year, the company posted ($1.36) earnings per share. Cytokinetics’s revenue for the quarter was up 1112.5% on a year-over-year basis. On average, equities analysts predict that Cytokinetics, Incorporated will post -6.2 EPS for the current year.

Wall Street Analysts Forecast Growth

CYTK has been the subject of a number of research analyst reports. Mizuho increased their target price on shares of Cytokinetics from $100.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, June 24th. Needham & Company LLC restated a “buy” rating and issued a $102.00 price target on shares of Cytokinetics in a report on Wednesday, June 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Cytokinetics in a report on Friday, July 17th. Wall Street Zen raised Cytokinetics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Barclays boosted their target price on Cytokinetics from $87.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, April 6th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $99.90.

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.