Royce & Associates LP Raises Holdings in Cytokinetics, Incorporated $CYTK

Royce & Associates LP lifted its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 44.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 144,426 shares of the biopharmaceutical company’s stock after acquiring an additional 44,343 shares during the period. Royce & Associates LP’s holdings in Cytokinetics were worth $9,177,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CYTK. Millennium Management LLC grew its stake in shares of Cytokinetics by 361.9% during the first quarter. Millennium Management LLC now owns 287,901 shares of the biopharmaceutical company’s stock worth $11,571,000 after acquiring an additional 225,576 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Cytokinetics by 12.4% during the second quarter. Cetera Investment Advisers now owns 6,635 shares of the biopharmaceutical company’s stock worth $219,000 after acquiring an additional 731 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Cytokinetics by 723.7% during the second quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 673 shares during the last quarter. Gabelli Funds LLC grew its stake in shares of Cytokinetics by 29.4% during the second quarter. Gabelli Funds LLC now owns 8,410 shares of the biopharmaceutical company’s stock worth $278,000 after acquiring an additional 1,910 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of Cytokinetics by 10.8% during the second quarter. California Public Employees Retirement System now owns 142,602 shares of the biopharmaceutical company’s stock worth $4,712,000 after acquiring an additional 13,911 shares during the last quarter.

Insider Activity

In other news, CEO Robert I. Blum sold 36,601 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $62.15, for a total transaction of $2,274,752.15. Following the transaction, the chief executive officer owned 430,330 shares in the company, valued at $26,745,009.50. This trade represents a 7.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Andrew Callos sold 26,000 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $61.87, for a total value of $1,608,620.00. Following the transaction, the executive vice president owned 50,440 shares in the company, valued at $3,120,722.80. This trade represents a 34.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 184,976 shares of company stock worth $11,873,844 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

CYTK has been the topic of a number of recent research reports. Royal Bank Of Canada upped their target price on Cytokinetics from $101.00 to $119.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Citizens Jmp upped their target price on Cytokinetics from $88.00 to $96.00 and gave the company a “market outperform” rating in a research report on Wednesday, February 25th. Wells Fargo & Company upped their target price on Cytokinetics from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Robert W. Baird set a $84.00 target price on Cytokinetics in a research report on Tuesday, March 10th. Finally, Truist Financial set a $106.00 target price on Cytokinetics in a research report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Cytokinetics has a consensus rating of “Moderate Buy” and an average target price of $99.30.

Cytokinetics Trading Down 0.4%

Cytokinetics stock opened at $76.81 on Friday. The firm has a market cap of $9.56 billion, a PE ratio of -11.23 and a beta of 0.38. Cytokinetics, Incorporated has a 12 month low of $30.02 and a 12 month high of $80.20. The stock’s 50 day simple moving average is $68.66 and its two-hundred day simple moving average is $65.65.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, hitting analysts’ consensus estimates of ($1.67). The business had revenue of $19.36 million during the quarter, compared to analyst estimates of $8.52 million. During the same period in the previous year, the company posted ($1.36) EPS. The business’s revenue for the quarter was up 1112.5% compared to the same quarter last year. On average, equities research analysts forecast that Cytokinetics, Incorporated will post -6.27 EPS for the current year.

Cytokinetics Company 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.