Great Point Partners LLC reduced its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK – Free Report) by 33.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 316,000 shares of the biopharmaceutical company’s stock after selling 158,202 shares during the period. Cytokinetics makes up approximately 4.9% of Great Point Partners LLC’s holdings, making the stock its 6th biggest holding. Great Point Partners LLC owned 0.27% of Cytokinetics worth $16,685,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Darwin Global Management Ltd. acquired a new stake in shares of Cytokinetics during the second quarter worth $246,074,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Cytokinetics by 42.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock worth $69,769,000 after buying an additional 395,709 shares in the last quarter. Westfield Capital Management Co. LP raised its position in Cytokinetics by 38.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock valued at $64,040,000 after buying an additional 339,373 shares during the last quarter. Integral Health Asset Management LLC lifted its stake in Cytokinetics by 122.2% in the 2nd quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $54,180,000 after acquiring an additional 550,000 shares in the last quarter. Finally, Hood River Capital Management LLC boosted its position in Cytokinetics by 5.9% during the 2nd quarter. Hood River Capital Management LLC now owns 737,637 shares of the biopharmaceutical company’s stock worth $39,965,000 after acquiring an additional 40,990 shares during the last quarter.
Insider Activity at Cytokinetics
In other news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.03, for a total value of $285,150.00. Following the completion of the sale, the chief executive officer now owns 397,456 shares of the company’s stock, valued at approximately $22,666,915.68. This represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $50.16, for a total value of $366,168.00. Following the completion of the transaction, the executive vice president now directly owns 111,878 shares in the company, valued at approximately $5,611,800.48. This represents a 6.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,378 shares of company stock worth $3,880,287 in the last quarter. 3.40% of the stock is owned by insiders.
Cytokinetics Trading Up 3.5 %
Cytokinetics (NASDAQ:CYTK – Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The company had revenue of $0.46 million during the quarter, compared to analyst estimates of $1.21 million. The firm’s revenue was up 22.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.35) EPS. As a group, sell-side analysts predict that Cytokinetics, Incorporated will post -5.25 earnings per share for the current year.
Analyst Ratings Changes
A number of research firms have recently issued reports on CYTK. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a report on Wednesday, November 20th. HC Wainwright restated a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a report on Monday, November 18th. The Goldman Sachs Group lowered Cytokinetics from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $85.00 to $60.00 in a report on Tuesday, August 13th. JPMorgan Chase & Co. raised their price target on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Finally, JMP Securities reiterated a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.
Cytokinetics Company 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.
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