Fisher Asset Management LLC Makes New $44.75 Million Investment in Cytokinetics, Incorporated (NASDAQ:CYTK)

Fisher Asset Management LLC purchased a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 535,954 shares of the biopharmaceutical company’s stock, valued at approximately $44,747,000. Fisher Asset Management LLC owned approximately 0.55% of Cytokinetics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. TD Asset Management Inc raised its holdings in shares of Cytokinetics by 35.9% in the third quarter. TD Asset Management Inc now owns 99,640 shares of the biopharmaceutical company’s stock valued at $2,935,000 after purchasing an additional 26,297 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Cytokinetics in the fourth quarter valued at $46,308,000. Vanguard Group Inc. increased its stake in Cytokinetics by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company’s stock valued at $316,498,000 after buying an additional 472,595 shares during the last quarter. HealthInvest Partners AB bought a new stake in Cytokinetics during the 4th quarter worth about $980,000. Finally, Legato Capital Management LLC acquired a new position in shares of Cytokinetics during the 4th quarter worth about $1,305,000.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. UBS Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and lifted their target price for the company from $61.00 to $92.00 in a research report on Wednesday, January 24th. Mizuho decreased their target price on shares of Cytokinetics from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, March 6th. Oppenheimer reiterated an “outperform” rating and issued a $107.00 price target on shares of Cytokinetics in a research note on Monday, March 4th. HC Wainwright restated a “buy” rating and set a $94.00 price objective on shares of Cytokinetics in a research note on Wednesday, February 28th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 target price (up from $60.00) on shares of Cytokinetics in a research note on Friday, January 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Cytokinetics presently has an average rating of “Moderate Buy” and a consensus price target of $79.33.

Cytokinetics Stock Performance

Shares of CYTK opened at $65.27 on Friday. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of -11.98 and a beta of 0.72. Cytokinetics, Incorporated has a 52 week low of $25.98 and a 52 week high of $110.25. The stock has a fifty day moving average of $68.57 and a 200-day moving average of $60.82.

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

Insider Buying and Selling

In other Cytokinetics news, Director John T. Henderson sold 10,562 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $64.54, for a total transaction of $681,671.48. Following the sale, the director now owns 32,070 shares of the company’s stock, valued at $2,069,797.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cytokinetics news, Director John T. Henderson sold 10,562 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $64.54, for a total transaction of $681,671.48. Following the transaction, the director now directly owns 32,070 shares in the company, valued at approximately $2,069,797.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total transaction of $2,585,576.50. Following the completion of the sale, the executive vice president now owns 142,973 shares of the company’s stock, valued at approximately $11,337,758.90. The disclosure for this sale can be found here. Insiders sold 113,376 shares of company stock valued at $8,275,252 over the last quarter. Insiders own 3.40% of the company’s stock.

Cytokinetics Company Profile

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.