Allostery Investments LP Invests $3.06 Million in Cytokinetics, Incorporated (NASDAQ:CYTK)

Allostery Investments LP acquired a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 65,000 shares of the biopharmaceutical company’s stock, valued at approximately $3,058,000. Cytokinetics makes up about 3.2% of Allostery Investments LP’s holdings, making the stock its 9th biggest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Jones Financial Companies Lllp boosted its stake in shares of Cytokinetics by 189.8% in the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 374 shares in the last quarter. Retirement Systems of Alabama boosted its position in Cytokinetics by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company’s stock valued at $6,750,000 after buying an additional 565 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Cytokinetics by 1.9% during the fourth quarter. Arizona State Retirement System now owns 32,366 shares of the biopharmaceutical company’s stock worth $1,522,000 after buying an additional 600 shares during the last quarter. Inspire Investing LLC increased its holdings in shares of Cytokinetics by 7.8% during the fourth quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock worth $400,000 after buying an additional 616 shares in the last quarter. Finally, Centricity Wealth Management LLC bought a new position in shares of Cytokinetics in the 4th quarter valued at $29,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CYTK shares. Morgan Stanley set a $67.00 price objective on Cytokinetics in a research report on Friday, March 7th. Barclays began coverage on Cytokinetics in a research note on Thursday, April 24th. They issued an “overweight” rating and a $55.00 price objective for the company. Evercore ISI upgraded shares of Cytokinetics to a “strong-buy” rating in a research report on Friday, February 7th. HC Wainwright restated a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research report on Monday, April 21st. Finally, Citigroup assumed coverage on shares of Cytokinetics in a report on Friday, February 7th. They set a “buy” rating and a $86.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $79.13.

Insider Activity at Cytokinetics

In other news, EVP Andrew Callos sold 2,775 shares of Cytokinetics stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $44.38, for a total transaction of $123,154.50. Following the completion of the transaction, the executive vice president now directly owns 34,888 shares in the company, valued at $1,548,329.44. This trade represents a 7.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Fady Ibraham Malik sold 2,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $48.06, for a total transaction of $96,120.00. Following the completion of the sale, the executive vice president now owns 116,071 shares in the company, valued at $5,578,372.26. This represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,360 shares of company stock valued at $3,848,445 in the last three months. Corporate insiders own 3.40% of the company’s stock.

Cytokinetics Price Performance

Cytokinetics stock opened at $42.92 on Friday. The stock’s 50 day moving average price is $41.54 and its two-hundred day moving average price is $46.86. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of -7.98 and a beta of 0.94. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. Cytokinetics, Incorporated has a 52-week low of $32.74 and a 52-week high of $68.44.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.03. The company had revenue of $16.93 million during the quarter, compared to analyst estimates of $14.26 million. On average, equities analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current 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.