Susquehanna Fundamental Investments LLC Buys 58,195 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Susquehanna Fundamental Investments LLC boosted its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 86.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 125,271 shares of the biopharmaceutical company’s stock after buying an additional 58,195 shares during the period. Susquehanna Fundamental Investments LLC owned 0.12% of Cytokinetics worth $6,787,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. J.Safra Asset Management Corp lifted its stake in shares of Cytokinetics by 642.3% in the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 456 shares during the period. EntryPoint Capital LLC bought a new position in Cytokinetics in the first quarter worth $74,000. Bessemer Group Inc. lifted its position 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 period. Cim Investment Management Inc. bought a new stake in shares of Cytokinetics during the 4th quarter valued at $263,000. Finally, Kennedy Capital Management LLC purchased a new stake in shares of Cytokinetics in the 1st quarter worth about $224,000.

Insider Buying and Selling at Cytokinetics

In other news, Director B Lynne Parshall sold 5,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $54.22, for a total value of $271,100.00. Following the transaction, the director now directly owns 20,600 shares in the company, valued at approximately $1,116,932. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Cytokinetics news, Director B Lynne Parshall sold 5,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $54.22, for a total value of $271,100.00. Following the transaction, the director now owns 20,600 shares of the company’s stock, valued at $1,116,932. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Fady Ibraham Malik sold 7,300 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $55.90, for a total value of $408,070.00. Following the completion of the transaction, the executive vice president now directly owns 131,004 shares in the company, valued at $7,323,123.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,537 shares of company stock worth $5,626,227. Insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

CYTK has been the subject of a number of recent research reports. HC Wainwright reissued a “buy” rating and set a $90.00 price target on shares of Cytokinetics in a research report on Friday, September 20th. JMP Securities reiterated a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a report on Wednesday, September 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a research report on Monday, September 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Tuesday, September 3rd. Finally, The Goldman Sachs Group cut Cytokinetics from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $85.00 to $60.00 in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.67.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK opened at $52.34 on Friday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 10.39 and a current ratio of 10.39. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of -9.69 and a beta of 0.77. The business has a 50-day simple moving average of $55.80 and a two-hundred day simple moving average of $58.78. Cytokinetics, Incorporated has a fifty-two week low of $25.98 and a fifty-two week 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 for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The firm had revenue of $0.25 million for the quarter, compared to analysts’ expectations of $7.61 million. During the same period last year, the firm earned ($1.34) earnings per share. The firm’s revenue was down 71.3% compared to the same quarter last year. On average, analysts expect that Cytokinetics, Incorporated will post -5.15 earnings per share for the current year.

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.