Universal Beteiligungs und Servicegesellschaft mbH Has $1.69 Million Position in Cytokinetics, Incorporated $CYTK

Universal Beteiligungs und Servicegesellschaft mbH cut its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 93.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,707 shares of the biopharmaceutical company’s stock after selling 444,464 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Cytokinetics were worth $1,688,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Teacher Retirement System of Texas grew its stake 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 valued at $1,008,000 after buying an additional 341 shares during the last quarter. KLP Kapitalforvaltning AS boosted its holdings in shares of Cytokinetics by 1.7% during the second quarter. KLP Kapitalforvaltning AS now owns 24,000 shares of the biopharmaceutical company’s stock worth $793,000 after acquiring an additional 400 shares during the period. New York State Teachers Retirement System boosted its holdings in shares of Cytokinetics by 0.4% during the second quarter. New York State Teachers Retirement System now owns 114,500 shares of the biopharmaceutical company’s stock worth $3,783,000 after acquiring an additional 400 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Cytokinetics by 1.6% in the second quarter. Thrivent Financial for Lutherans now owns 28,119 shares of the biopharmaceutical company’s stock valued at $929,000 after purchasing an additional 449 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of Cytokinetics by 68.4% during the third quarter. Farther Finance Advisors LLC now owns 1,115 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 453 shares during the period.

Analyst Ratings Changes

Several research firms recently issued reports on CYTK. Citigroup restated a “market outperform” rating on shares of Cytokinetics in a research note on Monday, December 22nd. Jefferies Financial Group reissued a “buy” rating and set a $90.00 target price on shares of Cytokinetics in a report on Friday, January 9th. Royal Bank Of Canada restated an “outperform” rating and issued a $95.00 price target on shares of Cytokinetics in a research note on Wednesday, January 21st. The Goldman Sachs Group set a $95.00 price objective on shares of Cytokinetics and gave the stock a “buy” rating in a research note on Thursday, December 18th. Finally, Needham & Company LLC increased their target price on shares of Cytokinetics from $72.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Sixteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cytokinetics has an average rating of “Moderate Buy” and an average target price of $87.00.

Cytokinetics Trading Down 3.7%

NASDAQ CYTK opened at $63.19 on Friday. The firm’s 50 day simple moving average is $63.82 and its 200 day simple moving average is $54.62. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of -10.05 and a beta of 0.55. Cytokinetics, Incorporated has a 1 year low of $29.31 and a 1 year high of $70.98.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, topping the consensus estimate of ($1.59) by $0.05. The business had revenue of $1.94 million for the quarter, compared to the consensus estimate of $6.05 million. The firm’s revenue for the quarter was up 318.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.36) earnings per share. On average, equities research analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Insider Buying and Selling at Cytokinetics

In other news, Director John T. Henderson sold 8,750 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $63.90, for a total value of $559,125.00. Following the completion of the transaction, the director owned 74,578 shares of the company’s stock, valued at approximately $4,765,534.20. This represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wendell Wierenga sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $66.14, for a total transaction of $1,322,800.00. Following the completion of the sale, the director owned 32,444 shares in the company, valued at approximately $2,145,846.16. The trade was a 38.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 150,169 shares of company stock worth $9,776,484 over the last quarter. 2.70% of the stock is currently owned by company insiders.

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.