Point72 Asia Singapore Pte. Ltd. Takes $87,000 Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,849 shares of the biopharmaceutical company’s stock, valued at approximately $87,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CYTK. Jones Financial Companies Lllp lifted its position in shares of Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 374 shares during the period. Centricity Wealth Management LLC acquired a new position in shares of Cytokinetics during the 4th quarter worth approximately $29,000. AlphaQuest LLC raised its position in shares of Cytokinetics by 113,500.0% during the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 1,135 shares during the last quarter. J.Safra Asset Management Corp raised its position in shares of Cytokinetics by 62.1% during the 4th quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 671 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Cytokinetics by 85.8% during the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company’s stock worth $86,000 after purchasing an additional 842 shares during the last quarter.

Cytokinetics Stock Up 3.9%

Shares of NASDAQ CYTK opened at $31.00 on Friday. Cytokinetics, Incorporated has a 52-week low of $29.31 and a 52-week high of $61.40. The firm has a fifty day moving average of $38.88 and a 200-day moving average of $45.23. The stock has a market capitalization of $3.70 billion, a PE ratio of -5.76 and a beta of 0.81. 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 announced its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.41) by $0.05. The company had revenue of $1.60 million for the quarter, compared to analysts’ expectations of $2.77 million. During the same period in the prior year, the firm earned ($1.33) earnings per share. The firm’s quarterly revenue was up 89.1% on a year-over-year basis. On average, analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Insider Activity

In related news, EVP Andrew Callos sold 3,341 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $43.27, for a total transaction of $144,565.07. Following the completion of the sale, the executive vice president now directly owns 64,434 shares of the company’s stock, valued at approximately $2,788,059.18. This represents a 4.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Muna Bhanji sold 1,454 shares of the company’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $29.73, for a total transaction of $43,227.42. Following the sale, the director now directly owns 23,510 shares of the company’s stock, valued at approximately $698,952.30. This trade represents a 5.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,816 shares of company stock valued at $3,942,345 in the last ninety days. Company insiders own 2.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. UBS Group cut their price objective on Cytokinetics from $47.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Royal Bank of Canada cut their price objective on Cytokinetics from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a research report on Friday, February 7th. JMP Securities restated a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research report on Thursday, April 10th. Finally, Stifel Nicolaus assumed coverage on Cytokinetics in a research report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.44.

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.