Virtu Financial LLC Invests $303,000 in Cytokinetics, Incorporated (NASDAQ:CYTK)

Virtu Financial LLC acquired a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,433 shares of the biopharmaceutical company’s stock, valued at approximately $303,000.

A number of other institutional investors have also recently added to or reduced their stakes in CYTK. Pathstone Holdings LLC lifted its position in shares of Cytokinetics by 17.0% during the 3rd quarter. Pathstone Holdings LLC now owns 34,560 shares of the biopharmaceutical company’s stock valued at $1,825,000 after acquiring an additional 5,027 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Cytokinetics by 42.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock worth $69,769,000 after purchasing an additional 395,709 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Cytokinetics by 23.6% in the third quarter. The Manufacturers Life Insurance Company now owns 214,832 shares of the biopharmaceutical company’s stock valued at $11,343,000 after purchasing an additional 41,057 shares during the last quarter. Cynosure Group LLC purchased a new position in shares of Cytokinetics in the third quarter valued at $363,000. Finally, MetLife Investment Management LLC raised its stake in shares of Cytokinetics by 0.4% during the 3rd quarter. MetLife Investment Management LLC now owns 123,308 shares of the biopharmaceutical company’s stock worth $6,511,000 after buying an additional 538 shares during the last quarter.

Cytokinetics Trading Down 1.5 %

CYTK stock opened at $42.99 on Friday. Cytokinetics, Incorporated has a 52 week low of $40.53 and a 52 week high of $75.71. The company has a market cap of $5.09 billion, a price-to-earnings ratio of -7.99 and a beta of 0.95. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The business has a fifty day simple moving average of $45.80 and a 200-day simple moving average of $49.67.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.03. The firm had revenue of $16.93 million during the quarter, compared to analysts’ expectations of $14.26 million. On average, equities research analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Insider Activity at Cytokinetics

In other news, EVP Andrew Callos sold 2,775 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $44.38, for a total value of $123,154.50. Following the transaction, the executive vice president now owns 34,888 shares of the company’s stock, valued at approximately $1,548,329.44. This trade represents a 7.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert I. Blum sold 16,970 shares of Cytokinetics stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $43.44, for a total transaction of $737,176.80. Following the transaction, the chief executive officer now owns 364,181 shares in the company, valued at $15,820,022.64. The trade was 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 worth $1,949,275. Company insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CYTK shares. Evercore ISI raised shares of Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. HC Wainwright reissued a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a research note on Friday, February 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research note on Friday, February 7th. Morgan Stanley set a $67.00 price target on Cytokinetics in a research report on Friday, March 7th. Finally, Stifel Nicolaus assumed coverage on Cytokinetics in a report on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

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.