Monashee Investment Management LLC Has $4.77 Million Stock Holdings in Cytokinetics, Incorporated $CYTK

Monashee Investment Management LLC trimmed its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 25.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 75,000 shares of the biopharmaceutical company’s stock after selling 25,000 shares during the period. Cytokinetics makes up approximately 2.7% of Monashee Investment Management LLC’s investment portfolio, making the stock its 15th biggest holding. Monashee Investment Management LLC’s holdings in Cytokinetics were worth $4,766,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Cytokinetics by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 12,048,131 shares of the biopharmaceutical company’s stock valued at $765,538,000 after acquiring an additional 191,336 shares during the period. Deep Track Capital LP raised its position in shares of Cytokinetics by 17.8% in the 3rd quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company’s stock valued at $236,328,000 after acquiring an additional 650,000 shares during the period. Geode Capital Management LLC raised its position in shares of Cytokinetics by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,056,017 shares of the biopharmaceutical company’s stock valued at $194,214,000 after acquiring an additional 15,815 shares during the period. Vestal Point Capital LP raised its position in shares of Cytokinetics by 14.8% in the 2nd quarter. Vestal Point Capital LP now owns 2,975,000 shares of the biopharmaceutical company’s stock valued at $98,294,000 after acquiring an additional 384,469 shares during the period. Finally, Woodline Partners LP raised its position in shares of Cytokinetics by 676.1% in the 3rd quarter. Woodline Partners LP now owns 1,647,725 shares of the biopharmaceutical company’s stock valued at $90,559,000 after acquiring an additional 1,435,422 shares during the period.

Analyst Ratings Changes

CYTK has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Cytokinetics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. UBS Group set a $119.00 price target on shares of Cytokinetics in a research report on Wednesday, May 6th. Needham & Company LLC increased their price target on shares of Cytokinetics from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Barclays increased their price target on shares of Cytokinetics from $87.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, April 6th. Finally, Morgan Stanley increased their target price on Cytokinetics from $90.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.30.

Insider Buying and Selling at Cytokinetics

In other news, EVP Andrew Callos sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $74.08, for a total transaction of $1,111,200.00. Following the completion of the transaction, the executive vice president directly owned 58,555 shares of the company’s stock, valued at $4,337,754.40. This trade represents a 20.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert I. Blum sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $77.21, for a total transaction of $579,075.00. Following the transaction, the chief executive officer directly owned 392,830 shares of the company’s stock, valued at $30,330,404.30. This represents a 1.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 171,989 shares of company stock worth $11,393,064 in the last quarter. Company insiders own 2.60% of the company’s stock.

Cytokinetics Stock Performance

NASDAQ CYTK opened at $69.27 on Friday. The business has a 50 day simple moving average of $70.33 and a 200 day simple moving average of $66.03. Cytokinetics, Incorporated has a 52-week low of $31.99 and a 52-week high of $80.20. The stock has a market cap of $8.62 billion, a price-to-earnings ratio of -10.13 and a beta of 0.42.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($1.67). The business had revenue of $19.36 million for the quarter, compared to the consensus estimate of $8.52 million. During the same period in the previous year, the company posted ($1.36) earnings per share. Cytokinetics’s revenue for the quarter was up 1112.5% compared to the same quarter last year. On average, analysts predict that Cytokinetics, Incorporated will post -6.29 EPS for the current year.

Cytokinetics Profile

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.