10,055 Shares in Cytokinetics, Incorporated (NASDAQ:CYTK) Purchased by HighVista Strategies LLC

HighVista Strategies LLC bought a new position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 10,055 shares of the biopharmaceutical company’s stock, valued at approximately $531,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. J.Safra Asset Management Corp grew its holdings in Cytokinetics by 642.3% in the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 456 shares during the period. UMB Bank n.a. grew its holdings in Cytokinetics by 65.6% in the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 238 shares during the period. Blue Trust Inc. lifted its position in shares of Cytokinetics by 225.9% in the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 680 shares in the last quarter. Values First Advisors Inc. purchased a new position in shares of Cytokinetics in the third quarter valued at approximately $54,000. Finally, Quarry LP lifted its position in shares of Cytokinetics by 233.3% in the second quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock valued at $108,000 after acquiring an additional 1,400 shares in the last quarter.

Insider Activity

In other news, EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $52.10, for a total value of $380,330.00. Following the completion of the sale, the executive vice president now directly owns 118,920 shares of the company’s stock, valued at approximately $6,195,732. The trade was a 5.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Wendall Wierenga sold 4,452 shares of Cytokinetics stock in a transaction on Monday, October 28th. The shares were sold at an average price of $52.25, for a total value of $232,617.00. Following the completion of the sale, the director now directly owns 24,559 shares of the company’s stock, valued at $1,283,207.75. The trade was a 15.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,994 shares of company stock valued at $3,427,975. 3.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Mizuho raised their target price on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. HC Wainwright restated a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a research report on Monday. Royal Bank of Canada assumed coverage on Cytokinetics in a research report on Friday, November 8th. They issued an “outperform” rating and a $80.00 target price on the stock. Finally, JMP Securities restated a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $83.93.

Cytokinetics Trading Up 1.7 %

CYTK stock opened at $51.51 on Wednesday. The business has a fifty day moving average of $53.18 and a two-hundred day moving average of $54.28. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. Cytokinetics, Incorporated has a 52-week low of $32.50 and a 52-week high of $110.25.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The business had revenue of $0.46 million during the quarter, compared to the consensus estimate of $1.21 million. The firm’s revenue was up 22.5% compared to the same quarter last year. During the same period last year, the business posted ($1.35) earnings per share. Analysts predict that Cytokinetics, Incorporated will post -5.25 EPS for the current fiscal year.

Cytokinetics Company 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.