Creative Planning Purchases 5,649 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Creative Planning lifted its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 56.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 15,727 shares of the biopharmaceutical company’s stock after purchasing an additional 5,649 shares during the period. Creative Planning’s holdings in Cytokinetics were worth $852,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Clearline Capital LP grew its holdings in shares of Cytokinetics by 332.4% in the second quarter. Clearline Capital LP now owns 207,695 shares of the biopharmaceutical company’s stock worth $11,253,000 after purchasing an additional 159,660 shares during the last quarter. Algert Global LLC lifted its stake in Cytokinetics by 63.5% in the second quarter. Algert Global LLC now owns 71,408 shares of the biopharmaceutical company’s stock worth $3,869,000 after acquiring an additional 27,738 shares during the period. Susquehanna Fundamental Investments LLC lifted its stake in Cytokinetics by 86.8% in the second quarter. Susquehanna Fundamental Investments LLC now owns 125,271 shares of the biopharmaceutical company’s stock worth $6,787,000 after acquiring an additional 58,195 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Cytokinetics by 13.2% in the second quarter. The Manufacturers Life Insurance Company now owns 173,775 shares of the biopharmaceutical company’s stock worth $9,415,000 after acquiring an additional 20,206 shares during the period. Finally, Darwin Global Management Ltd. purchased a new stake in Cytokinetics in the second quarter worth $246,074,000.

Analyst Ratings Changes

A number of analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research note on Monday, September 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research note on Wednesday, September 4th. Needham & Company LLC reissued a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Tuesday, September 3rd. The Goldman Sachs Group lowered 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 report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. raised their price objective on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Insider Buying and Selling

In related news, CEO Robert I. Blum sold 11,500 shares of Cytokinetics stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $59.49, for a total value of $684,135.00. Following the completion of the sale, the chief executive officer now directly owns 399,412 shares in the company, valued at approximately $23,761,019.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $52.10, for a total value of $380,330.00. Following the completion of the sale, the executive vice president now directly owns 118,920 shares in the company, valued at approximately $6,195,732. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert I. Blum sold 11,500 shares of Cytokinetics stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $59.49, for a total value of $684,135.00. Following the completion of the sale, the chief executive officer now owns 399,412 shares of the company’s stock, valued at $23,761,019.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,284 shares of company stock worth $4,606,411. 3.40% of the stock is owned by corporate insiders.

Cytokinetics Price Performance

CYTK opened at $54.88 on Friday. The stock has a 50-day moving average price of $54.99 and a 200-day moving average price of $58.02. 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 firm has a market cap of $6.46 billion, a PE ratio of -10.22 and a beta of 0.77. Cytokinetics, Incorporated has a 1 year low of $30.37 and a 1 year high of $110.25.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results 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 firm had revenue of $0.25 million during the quarter, compared to analysts’ expectations of $7.61 million. During the same period in the previous year, the company posted ($1.34) earnings per share. Cytokinetics’s revenue was down 71.3% compared to the same quarter last year. Sell-side analysts predict that Cytokinetics, Incorporated will post -5.15 earnings per share for the current fiscal 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.