Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Bought by MetLife Investment Management LLC

MetLife Investment Management LLC grew its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 123,308 shares of the biopharmaceutical company’s stock after acquiring an additional 538 shares during the quarter. MetLife Investment Management LLC’s holdings in Cytokinetics were worth $6,511,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. J.Safra Asset Management Corp boosted its stake in Cytokinetics by 642.3% in the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 456 shares in the last quarter. UMB Bank n.a. increased its stake in Cytokinetics by 65.6% during the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 238 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Cytokinetics by 225.9% in the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 680 shares during the last quarter. Values First Advisors Inc. purchased a new stake in shares of Cytokinetics during the third quarter valued at $54,000. Finally, Quarry LP increased its position in shares of Cytokinetics by 233.3% in the 2nd quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock valued at $108,000 after acquiring an additional 1,400 shares during the period.

Insiders Place Their Bets

In other news, EVP Fady Ibraham Malik sold 7,384 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $57.01, for a total value of $420,961.84. Following the transaction, the executive vice president now directly owns 122,920 shares of the company’s stock, valued at approximately $7,007,669.20. This trade represents a 5.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.03, for a total transaction of $285,150.00. Following the transaction, the chief executive officer now owns 397,456 shares in the company, valued at $22,666,915.68. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,378 shares of company stock valued at $3,880,287 in the last 90 days. 3.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CYTK shares. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research report on Wednesday, November 20th. Mizuho lifted their target price on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. increased their price target on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. HC Wainwright restated a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a research note on Monday, November 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Cytokinetics Stock Down 0.7 %

Shares of NASDAQ CYTK opened at $51.86 on Friday. The firm has a market cap of $6.12 billion, a price-to-earnings ratio of -9.75 and a beta of 0.78. Cytokinetics, Incorporated has a 52-week low of $32.35 and a 52-week high of $110.25. The company’s 50-day simple moving average is $53.25 and its 200-day simple moving average is $54.46. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The firm had revenue of $0.46 million during the quarter, compared to analyst estimates of $1.21 million. During the same quarter in the previous year, the business posted ($1.35) EPS. Cytokinetics’s quarterly revenue was up 22.5% on a year-over-year basis. Equities analysts predict that Cytokinetics, Incorporated will post -5.25 EPS for the current fiscal year.

Cytokinetics 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.