Harvey Capital Management Inc. Acquires New Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Harvey Capital Management Inc. bought a new position in Cytokinetics, Incorporated (NASDAQ:CYTK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,105 shares of the biopharmaceutical company’s stock, valued at approximately $1,040,000.

A number of other large investors have also recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in shares of Cytokinetics by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock worth $150,433,000 after purchasing an additional 109,938 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Cytokinetics by 42.7% in 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 buying an additional 395,709 shares during the period. Westfield Capital Management Co. LP lifted its stake in Cytokinetics by 38.9% in the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock valued at $64,040,000 after buying an additional 339,373 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Cytokinetics by 17.2% during the third 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 period. Finally, Fisher Asset Management LLC grew its position in shares of Cytokinetics by 1.5% during the third quarter. Fisher Asset Management LLC now owns 542,284 shares of the biopharmaceutical company’s stock worth $28,633,000 after acquiring an additional 7,764 shares during the last quarter.

Cytokinetics Stock Down 1.5 %

NASDAQ CYTK opened at $41.56 on Wednesday. Cytokinetics, Incorporated has a 12 month low of $41.47 and a 12 month high of $81.36. The company’s 50 day simple moving average is $47.95 and its 200 day simple moving average is $52.10. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93.

Insiders Place Their Bets

In related news, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $48.06, for a total value of $96,120.00. Following the transaction, the executive vice president now owns 116,071 shares of the company’s stock, valued at approximately $5,578,372.26. This trade represents a 1.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $50.55, for a total transaction of $252,750.00. Following the sale, the chief executive officer now directly owns 397,456 shares of the company’s stock, valued at $20,091,400.80. This represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,122 shares of company stock worth $1,654,806. 3.40% of the stock is owned by insiders.

Analysts Set New Price Targets

CYTK has been the topic of several recent research reports. Mizuho lifted their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a report on Thursday, February 6th. Royal Bank of Canada lifted their target price on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research note on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.00.

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.