Cynosure Group LLC Acquires 2,584 Shares of Cytokinetics, Incorporated $CYTK

Cynosure Group LLC grew its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 33.2% during the second quarter, Holdings Channel reports. The firm owned 10,372 shares of the biopharmaceutical company’s stock after acquiring an additional 2,584 shares during the quarter. Cynosure Group LLC’s holdings in Cytokinetics were worth $343,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CYTK. KLP Kapitalforvaltning AS increased its holdings in Cytokinetics by 2.6% in the first quarter. KLP Kapitalforvaltning AS now owns 23,600 shares of the biopharmaceutical company’s stock worth $948,000 after purchasing an additional 600 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Cytokinetics by 29.7% during the 1st quarter. Cetera Investment Advisers now owns 5,904 shares of the biopharmaceutical company’s stock worth $237,000 after buying an additional 1,353 shares during the period. Assetmark Inc. increased its stake in shares of Cytokinetics by 11,510.0% in the 1st quarter. Assetmark Inc. now owns 1,161 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 1,151 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Cytokinetics by 3.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,261 shares of the biopharmaceutical company’s stock valued at $1,176,000 after acquiring an additional 1,003 shares during the period. Finally, Bayforest Capital Ltd lifted its position in shares of Cytokinetics by 336.5% during the 1st quarter. Bayforest Capital Ltd now owns 7,372 shares of the biopharmaceutical company’s stock valued at $296,000 after acquiring an additional 5,683 shares during the period.

Cytokinetics Price Performance

NASDAQ CYTK opened at $67.21 on Tuesday. The company has a fifty day moving average price of $58.73 and a 200-day moving average price of $44.23. The firm has a market cap of $8.22 billion, a price-to-earnings ratio of -13.18 and a beta of 0.58. Cytokinetics, Incorporated has a 1 year low of $29.31 and a 1 year high of $67.98.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.59) by $0.05. The firm had revenue of $1.94 million for the quarter, compared to the consensus estimate of $6.05 million. During the same period in the previous year, the business earned ($1.36) earnings per share. The firm’s revenue for the quarter was up 318.1% on a year-over-year basis. On average, research analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CYTK shares. Stifel Nicolaus raised their price target on shares of Cytokinetics from $87.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, September 2nd. B. Riley restated a “buy” rating and issued a $90.00 target price (up from $80.00) on shares of Cytokinetics in a research note on Monday, November 10th. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a report on Tuesday, September 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Cytokinetics in a report on Wednesday, October 8th. Finally, Raymond James Financial initiated coverage on Cytokinetics in a research report on Wednesday, July 30th. They set a “market perform” rating on the stock. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Cytokinetics presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.86.

Insiders Place Their Bets

In other news, Director Edward M. Md Kaye sold 6,757 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $60.00, for a total value of $405,420.00. Following the transaction, the director owned 9,778 shares in the company, valued at $586,680. The trade was a 40.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director B Lynne Parshall sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $64.73, for a total value of $323,650.00. Following the sale, the director directly owned 22,933 shares of the company’s stock, valued at $1,484,453.09. The trade was a 17.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 67,358 shares of company stock worth $3,895,365 over the last 90 days. 2.70% of the stock is currently owned by corporate insiders.

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.