Cytokinetics, Incorporated $CYTK Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC grew its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 27.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 49,434 shares of the biopharmaceutical company’s stock after buying an additional 10,775 shares during the quarter. Intech Investment Management LLC’s holdings in Cytokinetics were worth $3,141,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Cytokinetics by 723.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 673 shares during the period. Quarry LP acquired a new stake in shares of Cytokinetics in the 3rd quarter valued at approximately $30,000. TD Waterhouse Canada Inc. acquired a new stake in shares of Cytokinetics in the 4th quarter valued at approximately $32,000. Advisory Services Network LLC acquired a new stake in shares of Cytokinetics in the 3rd quarter valued at approximately $32,000. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Cytokinetics in the 3rd quarter valued at approximately $40,000.

Insider Transactions at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 12,033 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $62.15, for a total value of $747,850.95. Following the completion of the transaction, the executive vice president directly owned 153,902 shares of the company’s stock, valued at $9,565,009.30. The trade was a 7.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Robert I. Blum sold 36,601 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $62.15, for a total value of $2,274,752.15. Following the completion of the transaction, the chief executive officer directly owned 430,330 shares of the company’s stock, valued at approximately $26,745,009.50. This trade represents a 7.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 207,909 shares of company stock valued at $13,578,616 over the last three months. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Royal Bank Of Canada raised their price target on Cytokinetics from $101.00 to $119.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Robert W. Baird set a $84.00 price objective on Cytokinetics in a report on Tuesday, March 10th. Wells Fargo & Company lifted their price objective on Cytokinetics from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Stifel Nicolaus lifted their price objective on Cytokinetics from $98.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Bank of America reaffirmed a “neutral” rating on shares of Cytokinetics in a report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Cytokinetics has an average rating of “Moderate Buy” and a consensus target price of $99.30.

Cytokinetics Stock Down 4.0%

NASDAQ CYTK opened at $73.68 on Tuesday. Cytokinetics, Incorporated has a fifty-two week low of $30.55 and a fifty-two week high of $80.20. The stock has a market cap of $9.17 billion, a price-to-earnings ratio of -10.77 and a beta of 0.42. The business has a fifty day moving average of $69.17 and a 200-day moving average of $65.80.

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 company had revenue of $19.36 million during the quarter, compared to analyst estimates of $8.52 million. During the same period last year, the firm earned ($1.36) earnings per share. The business’s revenue was up 1112.5% compared to the same quarter last year. As a group, analysts anticipate that Cytokinetics, Incorporated will post -6.27 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.