Crossmark Global Holdings Inc. Raises Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Crossmark Global Holdings Inc. grew its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 16.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,640 shares of the biopharmaceutical company’s stock after buying an additional 1,072 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Cytokinetics were worth $403,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Louisiana State Employees Retirement System increased its holdings in Cytokinetics by 0.6% in the third quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the biopharmaceutical company’s stock valued at $1,721,000 after buying an additional 200 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Cytokinetics by 65.6% in the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 238 shares during the last quarter. First Bank & Trust raised its position in shares of Cytokinetics by 4.7% during the 2nd quarter. First Bank & Trust now owns 6,757 shares of the biopharmaceutical company’s stock worth $366,000 after acquiring an additional 303 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Cytokinetics by 2.9% during the third quarter. Nisa Investment Advisors LLC now owns 15,062 shares of the biopharmaceutical company’s stock worth $795,000 after purchasing an additional 430 shares during the last quarter. Finally, J.Safra Asset Management Corp boosted its holdings in Cytokinetics by 642.3% in the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 456 shares in the last quarter.

Insider Activity at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 7,384 shares of Cytokinetics stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $57.01, for a total transaction of $420,961.84. Following the completion of the transaction, the executive vice president now directly owns 122,920 shares in the company, valued at $7,007,669.20. The trade was a 5.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $52.14, for a total value of $260,700.00. Following the completion of the sale, the chief executive officer now owns 397,456 shares in the company, valued at $20,723,355.84. This represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,078 shares of company stock valued at $3,261,369 in the last ninety days. Corporate insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

CYTK has been the topic of a number of research analyst reports. JMP Securities reissued a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a report on Wednesday, September 4th. Needham & Company LLC reissued a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research report on Thursday, October 17th. HC Wainwright reaffirmed a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a research report on Thursday, November 7th. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Cytokinetics currently has an average rating of “Moderate Buy” and a consensus target price of $83.67.

Cytokinetics Price Performance

Shares of NASDAQ CYTK opened at $50.22 on Friday. The company’s fifty day moving average is $54.08 and its two-hundred day moving average is $55.25. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The firm has a market capitalization of $5.93 billion, a P/E ratio of -9.33 and a beta of 0.78. Cytokinetics, Incorporated has a one year low of $30.68 and a one year high of $110.25.

Cytokinetics (NASDAQ:CYTK) last issued 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 business had revenue of $0.46 million for the quarter, compared to the consensus estimate of $1.21 million. During the same quarter in the prior year, the firm earned ($1.35) EPS. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. Analysts forecast that Cytokinetics, Incorporated will post -5.31 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.