Cytokinetics, Incorporated (NASDAQ:CYTK) Stake Boosted by UBS Group AG

Posted by Defense World Staff on Feb 24th, 2023

UBS Group AG grew its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK – Get Rating) by 28.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 210,897 shares of the biopharmaceutical company’s stock after purchasing an additional 46,415 shares during the quarter. UBS Group AG owned approximately 0.22% of Cytokinetics worth $10,218,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. CWM LLC lifted its position in Cytokinetics by 83.6% in the third quarter. CWM LLC now owns 538 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 245 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Cytokinetics by 6.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,454 shares of the biopharmaceutical company’s stock valued at $236,000 after buying an additional 372 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Cytokinetics by 0.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 65,227 shares of the biopharmaceutical company’s stock worth $3,160,000 after purchasing an additional 437 shares during the last quarter. Bank of Montreal Can lifted its holdings in Cytokinetics by 1.9% in the 1st quarter. Bank of Montreal Can now owns 24,711 shares of the biopharmaceutical company’s stock worth $940,000 after purchasing an additional 456 shares during the last quarter. Finally, Profund Advisors LLC lifted its holdings in Cytokinetics by 8.3% in the 3rd quarter. Profund Advisors LLC now owns 6,243 shares of the biopharmaceutical company’s stock worth $302,000 after purchasing an additional 477 shares during the last quarter.

Insider Activity

In other news, CAO Robert Wong sold 2,234 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $45.21, for a total value of $100,999.14. Following the completion of the transaction, the chief accounting officer now owns 24,789 shares in the company, valued at $1,120,710.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Robert Wong sold 2,234 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $45.21, for a total value of $100,999.14. Following the completion of the transaction, the chief accounting officer now owns 24,789 shares in the company, valued at $1,120,710.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Fady Ibraham Malik sold 4,000 shares of the stock in a transaction on Thursday, January 12th. The stock was sold at an average price of $40.47, for a total transaction of $161,880.00. Following the transaction, the executive vice president now owns 156,589 shares of the company’s stock, valued at approximately $6,337,156.83. The disclosure for this sale can be found here. Insiders sold 43,238 shares of company stock worth $1,832,679 over the last quarter. 5.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Truist Financial assumed coverage on Cytokinetics in a research report on Tuesday, December 20th. They set a “buy” rating and a $60.00 price objective on the stock. The Goldman Sachs Group boosted their target price on shares of Cytokinetics from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, January 17th. UBS Group dropped their target price on shares of Cytokinetics from $80.00 to $66.00 and set a “neutral” rating for the company in a research note on Thursday, December 15th. HC Wainwright boosted their price target on shares of Cytokinetics from $29.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, December 15th. Finally, JMP Securities decreased their price objective on shares of Cytokinetics from $82.00 to $71.00 and set a “market outperform” rating for the company in a report on Wednesday, December 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.93.

Cytokinetics Stock Up 3.2 %

Cytokinetics stock opened at $43.09 on Friday. The stock has a market capitalization of $4.08 billion, a PE ratio of -13.64 and a beta of 0.90. Cytokinetics, Incorporated has a twelve month low of $30.27 and a twelve month high of $55.80. The company has a quick ratio of 11.56, a current ratio of 11.56 and a debt-to-equity ratio of 1.77. The company has a 50 day moving average of $43.70 and a 200-day moving average of $45.47.

About Cytokinetics

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Cytokinetics, Inc is a biopharmaceutical company, which is focused on discovering, developing, and commercializing muscle activators and muscle inhibitors as potential treatments for people with debilitating diseases in which muscle performance is compromised and/or declining. The firm is developing small molecule drug candidates specifically engineered to impact muscle function and contractility.