Profund Advisors LLC raised its position in Cytokinetics, Incorporated (NASDAQ:CYTK – Free Report) by 35.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,681 shares of the biopharmaceutical company’s stock after buying an additional 9,109 shares during the period. Profund Advisors LLC’s holdings in Cytokinetics were worth $2,286,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of CYTK. V Square Quantitative Management LLC increased its stake in Cytokinetics by 71.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 458 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 191 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Cytokinetics by 8.6% during the third quarter. GAMMA Investing LLC now owns 2,700 shares of the biopharmaceutical company’s stock valued at $178,000 after acquiring an additional 213 shares during the last quarter. Strs Ohio raised its holdings in shares of Cytokinetics by 2.4% during the first quarter. Strs Ohio now owns 12,600 shares of the biopharmaceutical company’s stock valued at $830,000 after acquiring an additional 300 shares during the last quarter. AlphaCentric Advisors LLC lifted its position in shares of Cytokinetics by 5.7% in the first quarter. AlphaCentric Advisors LLC now owns 5,616 shares of the biopharmaceutical company’s stock valued at $370,000 after acquiring an additional 305 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in shares of Cytokinetics by 3.8% in the third quarter. Crossmark Global Holdings Inc. now owns 9,263 shares of the biopharmaceutical company’s stock valued at $611,000 after acquiring an additional 340 shares in the last quarter.
Insider Activity
In related news, Director Robert E. Landry sold 1,000 shares of Cytokinetics stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $72.13, for a total transaction of $72,130.00. Following the transaction, the director owned 8,184 shares in the company, valued at approximately $590,311.92. This trade represents a 10.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert Blum sold 7,500 shares of the business’s stock in a transaction on Monday, October 12th. The stock was sold at an average price of $62.88, for a total value of $471,600.00. Following the transaction, the chief executive officer directly owned 278,544 shares in the company, valued at $17,514,846.72. This trade represents a 2.62% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 169,926 shares of company stock worth $11,819,010 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.
Cytokinetics Stock Performance
Shares of NASDAQ CYTK opened at $62.99 on Monday. Cytokinetics, Incorporated has a 12-month low of $58.05 and a 12-month high of $88.31. The stock has a market cap of $7.84 billion, a PE ratio of -8.72 and a beta of 0.45. The company has a 50-day moving average of $67.50 and a 200 day moving average of $70.07.
Cytokinetics (NASDAQ:CYTK – Get Free Report) last released its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.63) by $0.13. The business had revenue of $28.62 million during the quarter, compared to analysts’ expectations of $17.59 million. The company’s revenue for the quarter was down 57.1% compared to the same quarter last year. During the same period last year, the business earned ($1.12) earnings per share. On average, sell-side analysts forecast that Cytokinetics, Incorporated will post -5.97 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on CYTK shares. Needham & Company LLC lifted their price target on Cytokinetics from $102.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Truist Financial boosted their price target on Cytokinetics from $106.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cytokinetics in a research note on Thursday, October 15th. Morgan Stanley upgraded Cytokinetics from an “overweight” rating to a “buy” rating in a report on Tuesday, September 1st. Finally, William Blair assumed coverage on shares of Cytokinetics in a research note on Friday, October 16th. They set an “outperform” rating on the stock. Nineteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.44.
Read Our Latest Analysis on Cytokinetics
About Cytokinetics
Cytokinetics, Incorporated is a biopharmaceutical company focused on discovering and developing medicines that target muscle function and contractility. The company applies muscle biology and sarcomere science to develop potential treatments for cardiovascular and neuromuscular diseases, including conditions in which impaired muscle performance contributes to disease progression.
Its leading investigational program is aficamten, a selective cardiac myosin inhibitor being developed for hypertrophic cardiomyopathy and other potential cardiovascular indications.
Featured Articles
- Five stocks we like better than Cytokinetics
- Royal Caribbean Buys the Beach as Norwegian Fixes the Ship
- SK hynix Says Memory Demand Beats Supply Through 2030—What It Means for Micron and SanDisk
- STMicroelectronics Could Reach New Highs—Here’s What Needs to Happen
- Marvell Eyes a Swing for the AI Networking Fences as Markets Weigh Lumentum Price Tag
Want to see what other hedge funds are holding CYTK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cytokinetics, Incorporated (NASDAQ:CYTK – Free Report).
Receive News & Ratings for Cytokinetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cytokinetics and related companies with MarketBeat.com's FREE daily email newsletter.
