Massachusetts Financial Services Co. MA Acquires Shares of 276,067 Cytokinetics, Incorporated (NASDAQ:CYTK)

Massachusetts Financial Services Co. MA bought a new position in Cytokinetics, Incorporated (NASDAQ:CYTK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 276,067 shares of the biopharmaceutical company’s stock, valued at approximately $14,957,000. Massachusetts Financial Services Co. MA owned approximately 0.26% of Cytokinetics as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. J.Safra Asset Management Corp lifted its stake in Cytokinetics by 642.3% in the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 456 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Cytokinetics in the first quarter worth about $74,000. Bessemer Group Inc. boosted its stake in Cytokinetics by 25,100.0% during the first quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 1,255 shares during the last quarter. Cim Investment Management Inc. purchased a new position in Cytokinetics during the 4th quarter valued at approximately $263,000. Finally, Kennedy Capital Management LLC bought a new stake in Cytokinetics in the 1st quarter worth approximately $224,000.

Cytokinetics Stock Down 3.3 %

NASDAQ:CYTK opened at $53.77 on Friday. The stock has a fifty day simple moving average of $56.26 and a 200-day simple moving average of $59.38. The company has a current ratio of 10.39, a quick ratio of 10.39 and a debt-to-equity ratio of 5.93. The company has a market cap of $5.64 billion, a price-to-earnings ratio of -9.96 and a beta of 0.77. Cytokinetics, Incorporated has a twelve month low of $25.98 and a twelve month high of $110.25.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The business had revenue of $0.25 million for the quarter, compared to the consensus estimate of $7.61 million. Cytokinetics’s revenue for the quarter was down 71.3% compared to the same quarter last year. During the same period last year, the business posted ($1.34) earnings per share. Analysts anticipate that Cytokinetics, Incorporated will post -5.15 EPS for the current year.

Analyst Ratings Changes

CYTK has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. B. Riley dropped their price objective on shares of Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, June 4th. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research report on Monday, September 9th. JMP Securities reiterated a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research report on Wednesday, September 4th. Finally, Truist Financial decreased their price objective on Cytokinetics from $86.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $80.67.

Insider Buying and Selling

In other Cytokinetics news, CEO Robert I. Blum sold 11,500 shares of Cytokinetics stock in a transaction on Monday, July 1st. The stock was sold at an average price of $54.05, for a total transaction of $621,575.00. Following the completion of the sale, the chief executive officer now directly owns 405,145 shares of the company’s stock, valued at approximately $21,898,087.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Fady Ibraham Malik sold 7,300 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $53.72, for a total value of $392,156.00. Following the completion of the sale, the executive vice president now owns 133,004 shares in the company, valued at approximately $7,144,974.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert I. Blum sold 11,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $54.05, for a total transaction of $621,575.00. Following the completion of the sale, the chief executive officer now directly owns 405,145 shares of the company’s stock, valued at approximately $21,898,087.25. The disclosure for this sale can be found here. Insiders have sold a total of 107,837 shares of company stock valued at $6,018,383 over the last quarter. 3.40% of the stock is owned by corporate insiders.

About Cytokinetics

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.