47,383 Shares in Cytokinetics, Incorporated (NASDAQ:CYTK) Purchased by Tema Etfs LLC

Tema Etfs LLC purchased a new position in Cytokinetics, Incorporated (NASDAQ:CYTK) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 47,383 shares of the biopharmaceutical company’s stock, valued at approximately $2,229,000.

Other hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its stake in Cytokinetics by 189.8% in the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 374 shares in the last quarter. Centricity Wealth Management LLC bought a new position in Cytokinetics in the 4th quarter worth about $29,000. AlphaQuest LLC boosted its stake in Cytokinetics by 113,500.0% in the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 1,135 shares in the last quarter. J.Safra Asset Management Corp boosted its stake in Cytokinetics by 62.1% in the 4th quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 671 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Cytokinetics by 85.8% in the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company’s stock worth $86,000 after purchasing an additional 842 shares in the last quarter.

Insider Buying and Selling

In related news, Director Muna Bhanji sold 1,454 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $29.73, for a total value of $43,227.42. Following the completion of the sale, the director now directly owns 23,510 shares of the company’s stock, valued at approximately $698,952.30. This represents a 5.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $45.98, for a total transaction of $91,960.00. Following the completion of the sale, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at $5,336,944.58. This represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 96,816 shares of company stock valued at $3,942,345. 2.70% of the stock is owned by corporate insiders.

Cytokinetics Price Performance

NASDAQ CYTK opened at $31.00 on Friday. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $61.40. The firm has a market capitalization of $3.70 billion, a P/E ratio of -5.76 and a beta of 0.81. 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 company has a 50-day moving average price of $38.88 and a 200-day moving average price of $45.23.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.41) by $0.05. The firm had revenue of $1.60 million during the quarter, compared to analysts’ expectations of $2.77 million. The company’s revenue was up 89.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.33) earnings per share. Equities research analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CYTK. UBS Group decreased their target price on Cytokinetics from $47.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Royal Bank of Canada decreased their target price on Cytokinetics from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Needham & Company LLC reissued a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research report on Wednesday. Morgan Stanley set a $67.00 target price on Cytokinetics in a research report on Friday, March 7th. Finally, Bank of America decreased their target price on Cytokinetics from $62.00 to $54.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Cytokinetics currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.44.

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.