Murchinson Ltd. Has $2.51 Million Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Murchinson Ltd. lessened its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 57.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,380 shares of the biopharmaceutical company’s stock after selling 62,415 shares during the quarter. Cytokinetics makes up approximately 0.5% of Murchinson Ltd.’s portfolio, making the stock its 20th largest holding. Murchinson Ltd.’s holdings in Cytokinetics were worth $2,513,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CYTK. Vanguard Group Inc. raised its holdings in shares of Cytokinetics by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 11,016,889 shares of the biopharmaceutical company’s stock valued at $919,800,000 after purchasing an additional 273,565 shares in the last quarter. Integral Health Asset Management LLC increased its position in Cytokinetics by 122.2% during the second quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $54,180,000 after buying an additional 550,000 shares during the last quarter. Hood River Capital Management LLC increased its position in Cytokinetics by 5.9% during the second quarter. Hood River Capital Management LLC now owns 737,637 shares of the biopharmaceutical company’s stock worth $39,965,000 after buying an additional 40,990 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in Cytokinetics during the first quarter valued at about $51,277,000. Finally, Norges Bank acquired a new stake in shares of Cytokinetics in the fourth quarter worth about $60,299,000.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. B. Riley cut their price objective on Cytokinetics from $122.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, June 4th. Truist Financial reduced their price objective on shares of Cytokinetics from $86.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price objective on shares of Cytokinetics in a report on Friday. The Goldman Sachs Group downgraded shares of 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. Finally, Needham & Company LLC restated a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.67.

Cytokinetics Stock Down 3.1 %

Shares of CYTK stock opened at $52.09 on Tuesday. Cytokinetics, Incorporated has a one year low of $25.98 and a one year high of $110.25. The company has a debt-to-equity ratio of 5.93, a current ratio of 10.39 and a quick ratio of 10.39. The stock has a fifty day moving average price of $56.11 and a 200 day moving average price of $59.09. The stock has a market cap of $5.46 billion, a P/E ratio of -9.65 and a beta of 0.77.

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

Insiders Place Their Bets

In other news, 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 value of $621,575.00. Following the sale, the chief executive officer now directly owns 405,145 shares in the company, valued at approximately $21,898,087.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction, the chief executive officer now directly owns 405,145 shares of the company’s stock, valued at $21,898,087.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director B Lynne Parshall sold 5,000 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $59.84, for a total transaction of $299,200.00. Following the completion of the sale, the director now owns 20,600 shares in the company, valued at approximately $1,232,704. The disclosure for this sale can be found here. Insiders sold a total of 100,537 shares of company stock worth $5,626,227 over the last quarter. Company insiders own 3.40% of the company’s stock.

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.