Cytokinetics, Incorporated $CYTK Stock Holdings Increased by Tema ETFs LLC

Tema ETFs LLC grew its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 174.6% in the second quarter, HoldingsChannel reports. The fund owned 22,413 shares of the biopharmaceutical company’s stock after buying an additional 14,251 shares during the period. Tema ETFs LLC’s holdings in Cytokinetics were worth $1,909,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of CYTK. Vanguard Group Inc. raised its stake in shares of Cytokinetics by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 12,048,131 shares of the biopharmaceutical company’s stock valued at $765,538,000 after purchasing an additional 191,336 shares in the last quarter. State Street Corp grew its position in Cytokinetics by 3.7% in the 4th quarter. State Street Corp now owns 5,825,295 shares of the biopharmaceutical company’s stock valued at $370,139,000 after buying an additional 207,961 shares in the last quarter. Deep Track Capital LP grew its position in 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 buying an additional 650,000 shares in the last quarter. Geode Capital Management LLC increased its stake in Cytokinetics by 0.5% during 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 buying an additional 15,815 shares during the period. Finally, Vestal Point Capital LP increased its stake in Cytokinetics by 14.8% during 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 buying an additional 384,469 shares during the period.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. HC Wainwright boosted their price target on shares of Cytokinetics from $136.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytokinetics in a research note on Friday, July 17th. Needham & Company LLC boosted their target price on Cytokinetics from $102.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, August 7th. JPMorgan Chase & Co. upped their target price on Cytokinetics from $92.00 to $97.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Finally, Wall Street Zen lowered Cytokinetics from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.15.

Insiders Place Their Bets

In other news, EVP Andrew Callos sold 15,000 shares of Cytokinetics stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $74.08, for a total value of $1,111,200.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director B Lynne Parshall sold 5,000 shares of the business’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 $370,400.00. Following the sale, the director owned 15,784 shares in the company, valued at $1,169,278.72. This represents a 24.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 115,179 shares of company stock worth $9,117,354 over the last ninety days. 2.60% of the stock is currently owned by company insiders.

Cytokinetics Stock Down 1.1%

Shares of Cytokinetics stock opened at $75.64 on Thursday. Cytokinetics, Incorporated has a 12-month low of $34.60 and a 12-month high of $88.31. The firm has a market capitalization of $9.41 billion, a PE ratio of -10.48 and a beta of 0.38. The stock’s fifty day moving average is $79.19 and its 200-day moving average is $71.22.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.63) by $0.13. The company had revenue of $28.62 million during the quarter, compared to analysts’ expectations of $17.59 million. The company’s revenue for the quarter was down 57.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.12) EPS. Analysts expect that Cytokinetics, Incorporated will post -6.03 EPS for the current year.

About Cytokinetics

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.