Harbor Capital Advisors Inc. Grows Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Harbor Capital Advisors Inc. raised its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 402.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,814 shares of the biopharmaceutical company’s stock after buying an additional 14,270 shares during the period. Harbor Capital Advisors Inc.’s holdings in Cytokinetics were worth $965,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CYTK. Fifth Third Bancorp lifted its position in Cytokinetics by 94.1% during the first quarter. Fifth Third Bancorp now owns 656 shares of the biopharmaceutical company’s stock valued at $46,000 after buying an additional 318 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Cytokinetics during the first quarter valued at approximately $74,000. GAMMA Investing LLC acquired a new position in Cytokinetics during the fourth quarter valued at approximately $80,000. Bessemer Group Inc. lifted its position in Cytokinetics by 25,100.0% during the first quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 1,255 shares in the last quarter. Finally, Sage Rhino Capital LLC acquired a new position in Cytokinetics during the fourth quarter valued at approximately $204,000.

Analyst Ratings Changes

A number of brokerages have weighed in on CYTK. JPMorgan Chase & Co. reduced their price target on shares of Cytokinetics from $77.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. Barclays reduced their target price on shares of Cytokinetics from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Bank of America reduced their target price on shares of Cytokinetics from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, May 23rd. Oppenheimer reduced their target price on shares of Cytokinetics from $107.00 to $106.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Finally, Needham & Company LLC reduced their target price on shares of Cytokinetics from $108.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Cytokinetics currently has a consensus rating of “Moderate Buy” and an average price target of $77.06.

Cytokinetics Stock Down 3.4 %

CYTK stock traded down $1.81 during trading on Wednesday, hitting $51.73. 960,281 shares of the company’s stock traded hands, compared to its average volume of 2,461,529. Cytokinetics, Incorporated has a 52 week low of $25.98 and a 52 week high of $110.25. The stock has a fifty day moving average price of $54.52 and a two-hundred day moving average price of $64.28. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of -9.91 and a beta of 0.75.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($1.16) by ($0.17). The business had revenue of $0.84 million for the quarter, compared to analysts’ expectations of $0.91 million. Cytokinetics’s revenue was down 81.8% compared to the same quarter last year. During the same period last year, the firm posted ($1.38) EPS. As a group, equities research analysts expect that Cytokinetics, Incorporated will post -4.5 EPS for the current fiscal year.

Insider Transactions at Cytokinetics

In other news, CEO Robert I. Blum sold 11,500 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $59.49, for a total transaction of $684,135.00. Following the completion of the transaction, the chief executive officer now owns 399,412 shares in the company, valued at $23,761,019.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Robert Wong sold 13,011 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $48.88, for a total transaction of $635,977.68. Following the completion of the transaction, the chief accounting officer now owns 16,653 shares in the company, valued at $813,998.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert I. Blum sold 11,500 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $59.49, for a total transaction of $684,135.00. Following the completion of the transaction, the chief executive officer now owns 399,412 shares of the company’s stock, valued at approximately $23,761,019.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 146,032 shares of company stock worth $7,785,153. Insiders own 3.40% of the company’s stock.

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.