Westfield Capital Management Co. LP Purchases 339,373 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Westfield Capital Management Co. LP increased its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 38.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,212,886 shares of the biopharmaceutical company’s stock after buying an additional 339,373 shares during the quarter. Westfield Capital Management Co. LP owned 1.03% of Cytokinetics worth $64,040,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp increased its position in shares of Cytokinetics by 642.3% during the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 456 shares in the last quarter. UMB Bank n.a. boosted its stake in Cytokinetics by 65.6% in the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 238 shares during the period. Blue Trust Inc. increased its holdings in Cytokinetics by 225.9% during the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 680 shares in the last quarter. Values First Advisors Inc. acquired a new stake in shares of Cytokinetics in the 3rd quarter valued at about $54,000. Finally, Bessemer Group Inc. raised its stake in shares of Cytokinetics by 25,100.0% in the 1st quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 1,255 shares during the period.

Insider Buying and Selling at Cytokinetics

In other news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $57.03, for a total transaction of $285,150.00. Following the transaction, the chief executive officer now owns 397,456 shares in the company, valued at approximately $22,666,915.68. This trade represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Fady Ibraham Malik sold 7,384 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $57.01, for a total value of $420,961.84. Following the completion of the sale, the executive vice president now owns 122,920 shares of the company’s stock, valued at $7,007,669.20. This trade represents a 5.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,078 shares of company stock worth $3,514,119 over the last ninety days. Insiders own 3.40% of the company’s stock.

Cytokinetics Price Performance

Shares of NASDAQ CYTK opened at $49.10 on Monday. 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’s 50 day moving average price is $53.60 and its two-hundred day moving average price is $54.66. The company has a market cap of $5.79 billion, a PE ratio of -9.13 and a beta of 0.78. Cytokinetics, Incorporated has a twelve month low of $30.68 and a twelve month high of $110.25.

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

Analysts Set New Price Targets

A number of research firms recently issued reports on CYTK. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a research report on Wednesday, September 4th. HC Wainwright reiterated a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a report on Monday, November 18th. Needham & Company LLC restated a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. raised their target price on shares of Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

About Cytokinetics

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.