Cytokinetics, Incorporated (NASDAQ:CYTK) Stake Lifted by Xponance Inc.

Xponance Inc. increased its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 5.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,528 shares of the biopharmaceutical company’s stock after purchasing an additional 853 shares during the period. Xponance Inc.’s holdings in Cytokinetics were worth $777,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of Cytokinetics by 42.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock valued at $69,769,000 after purchasing an additional 395,709 shares during the period. Westfield Capital Management Co. LP grew its holdings in Cytokinetics by 38.9% during the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock worth $64,040,000 after acquiring an additional 339,373 shares during the period. Checkpoint Capital L.P. grew its holdings in Cytokinetics by 145.7% during the third quarter. Checkpoint Capital L.P. now owns 466,813 shares of the biopharmaceutical company’s stock worth $24,648,000 after acquiring an additional 276,813 shares during the period. Two Sigma Advisers LP bought a new stake in Cytokinetics in the third quarter worth about $11,336,000. Finally, Janus Henderson Group PLC lifted its holdings in Cytokinetics by 17.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock valued at $60,399,000 after acquiring an additional 167,501 shares during the last quarter.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK opened at $46.57 on Tuesday. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of -8.66 and a beta of 0.95. Cytokinetics, Incorporated has a 1 year low of $40.53 and a 1 year high of $75.71. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The business has a fifty day simple moving average of $45.96 and a 200 day simple moving average of $49.82.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.03. The firm had revenue of $16.93 million for the quarter, compared to analysts’ expectations of $14.26 million. As a group, sell-side analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CYTK has been the topic of a number of research reports. Morgan Stanley set a $67.00 target price on shares of Cytokinetics in a report on Friday, March 7th. Stifel Nicolaus initiated coverage on Cytokinetics in a report on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price target on the stock. Citigroup started coverage on Cytokinetics in a research report on Friday, February 7th. They set a “buy” rating and a $86.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research report on Friday, February 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.00.

Insider Activity at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $45.92, for a total transaction of $91,840.00. Following the transaction, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at $5,329,980.32. This represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert I. Blum sold 16,970 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $43.44, for a total value of $737,176.80. Following the completion of the sale, the chief executive officer now directly owns 364,181 shares of the company’s stock, valued at $15,820,022.64. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,834 shares of company stock valued at $1,949,275. 3.40% 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.