First Bank & Trust Sells 297 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

First Bank & Trust trimmed its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 4.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,425 shares of the biopharmaceutical company’s stock after selling 297 shares during the quarter. First Bank & Trust’s holdings in Cytokinetics were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CYTK. Charles Schwab Investment Management Inc. raised its stake in shares of Cytokinetics by 42.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock valued at $69,769,000 after purchasing an additional 395,709 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Cytokinetics by 38.9% in the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock valued at $64,040,000 after purchasing an additional 339,373 shares in the last quarter. Checkpoint Capital L.P. raised its stake in shares of Cytokinetics by 145.7% in the third quarter. Checkpoint Capital L.P. now owns 466,813 shares of the biopharmaceutical company’s stock valued at $24,648,000 after purchasing an additional 276,813 shares in the last quarter. Two Sigma Advisers LP acquired a new position in shares of Cytokinetics in the third quarter valued at $11,336,000. Finally, Janus Henderson Group PLC raised its stake in shares of Cytokinetics by 17.2% in the third quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock valued at $60,399,000 after purchasing an additional 167,501 shares in the last quarter.

Wall Street Analyst Weigh In

CYTK has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research note on Thursday, February 6th. JMP Securities reiterated a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research note on Friday, February 7th. Royal Bank of Canada increased their target price on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Citigroup started coverage on Cytokinetics in a report on Friday, February 7th. They set a “buy” rating and a $86.00 target price on the stock. Finally, Mizuho increased 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. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

Cytokinetics Price Performance

Shares of CYTK opened at $51.12 on Friday. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 1 year low of $40.53 and a 1 year high of $81.36. The stock has a market cap of $6.03 billion, a P/E ratio of -9.50 and a beta of 0.83. The stock’s 50-day moving average price is $47.26 and its two-hundred day moving average price is $51.55.

Insiders Place Their Bets

In other Cytokinetics news, Director Wendall Wierenga sold 742 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $48.61, for a total transaction of $36,068.62. Following the transaction, the director now owns 24,559 shares in the company, valued at approximately $1,193,812.99. This trade represents a 2.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Fady Ibraham Malik sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $45.92, for a total value of $91,840.00. Following the sale, the executive vice president now directly owns 116,071 shares in the company, valued at approximately $5,329,980.32. This represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,122 shares of company stock worth $1,494,016. Insiders own 3.40% of the company’s stock.

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.