Yousif Capital Management LLC Decreases Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

Yousif Capital Management LLC lowered its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,929 shares of the biopharmaceutical company’s stock after selling 1,494 shares during the period. Yousif Capital Management LLC’s holdings in Cytokinetics were worth $4,085,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CYTK. Mutual of America Capital Management LLC increased its stake in shares of Cytokinetics by 2.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 17,162 shares of the biopharmaceutical company’s stock worth $1,433,000 after acquiring an additional 337 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Cytokinetics by 4.8% in the third quarter. PNC Financial Services Group Inc. now owns 7,373 shares of the biopharmaceutical company’s stock valued at $217,000 after purchasing an additional 340 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Cytokinetics by 0.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,684 shares of the biopharmaceutical company’s stock valued at $1,523,000 after buying an additional 359 shares during the period. Arizona State Retirement System boosted its stake in shares of Cytokinetics by 1.4% in the third quarter. Arizona State Retirement System now owns 25,870 shares of the biopharmaceutical company’s stock worth $762,000 after buying an additional 363 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in shares of Cytokinetics by 5.1% in the third quarter. HighTower Advisors LLC now owns 8,868 shares of the biopharmaceutical company’s stock worth $261,000 after buying an additional 434 shares during the last quarter.

Insider Buying and Selling

In related news, CEO Robert I. Blum sold 12,500 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $79.57, for a total value of $994,625.00. Following the completion of the transaction, the chief executive officer now directly owns 441,797 shares in the company, valued at $35,153,787.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director John T. Henderson sold 5,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $76.48, for a total value of $382,400.00. Following the completion of the transaction, the director now directly owns 42,632 shares in the company, valued at $3,260,495.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert I. Blum sold 12,500 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $79.57, for a total value of $994,625.00. Following the completion of the transaction, the chief executive officer now owns 441,797 shares of the company’s stock, valued at $35,153,787.29. The disclosure for this sale can be found here. Over the last three months, insiders sold 125,876 shares of company stock worth $9,269,877. Company insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Morgan Stanley restated an “equal weight” rating and issued a $90.00 target price (up previously from $60.00) on shares of Cytokinetics in a research note on Friday, January 5th. UBS Group cut Cytokinetics from a “buy” rating to a “neutral” rating and upped their price target for the stock from $61.00 to $92.00 in a report on Wednesday, January 24th. Truist Financial reissued a “buy” rating and set a $86.00 target price on shares of Cytokinetics in a report on Monday, April 8th. Needham & Company LLC reissued a “buy” rating and set a $108.00 target price on shares of Cytokinetics in a report on Tuesday, April 9th. Finally, Oppenheimer reissued an “outperform” rating and set a $107.00 target price on shares of Cytokinetics in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cytokinetics currently has a consensus rating of “Moderate Buy” and an average target price of $79.33.

Cytokinetics Stock Performance

CYTK stock opened at $65.34 on Friday. The business has a 50 day simple moving average of $69.91 and a 200-day simple moving average of $59.82. Cytokinetics, Incorporated has a 1 year low of $25.98 and a 1 year high of $110.25.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.35). The firm had revenue of $1.70 million during the quarter, compared to analyst estimates of $7.62 million. Cytokinetics’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the business earned ($1.45) EPS. As a group, equities research analysts predict that Cytokinetics, Incorporated will post -4.5 EPS for the current fiscal year.

About Cytokinetics

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.