Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Purchased by AlphaQuest LLC

AlphaQuest LLC boosted its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 113,500.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,136 shares of the biopharmaceutical company’s stock after purchasing an additional 1,135 shares during the period. AlphaQuest LLC’s holdings in Cytokinetics were worth $53,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its stake in shares of Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 374 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Cytokinetics in the 4th quarter valued at about $29,000. J.Safra Asset Management Corp lifted its stake in Cytokinetics by 62.1% in the 4th quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company’s stock valued at $83,000 after buying an additional 671 shares in the last quarter. Blue Trust Inc. lifted its stake in Cytokinetics by 85.8% in the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company’s stock valued at $86,000 after buying an additional 842 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Cytokinetics in the 4th quarter valued at about $133,000.

Insiders Place Their Bets

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $49.32, for a total value of $98,640.00. Following the completion of the transaction, the executive vice president now owns 116,071 shares in the company, valued at $5,724,621.72. This represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Andrew Callos sold 2,775 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $44.38, for a total transaction of $123,154.50. Following the completion of the transaction, the executive vice president now owns 34,888 shares of the company’s stock, valued at $1,548,329.44. This represents a 7.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,834 shares of company stock worth $1,949,275 over the last 90 days. Corporate insiders own 3.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research note on Friday, February 28th. Royal Bank of Canada raised their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Citigroup assumed coverage on shares of Cytokinetics in a research note on Friday, February 7th. They issued a “buy” rating and a $86.00 price target on the stock. Mizuho raised their price target on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Morgan Stanley set a $67.00 target price on shares of Cytokinetics in a research note on Friday, March 7th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cytokinetics has an average rating of “Moderate Buy” and a consensus target price of $82.00.

Cytokinetics Stock Down 0.8 %

Shares of NASDAQ CYTK opened at $43.10 on Friday. The company has a 50 day simple moving average of $45.99 and a 200-day simple moving average of $50.04. The company has a market capitalization of $5.10 billion, a P/E ratio of -8.01 and a beta of 0.95. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. Cytokinetics, Incorporated has a 1 year low of $40.53 and a 1 year high of $75.71.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, beating the consensus estimate of ($1.29) by $0.03. The company had revenue of $16.93 million during the quarter, compared to analyst estimates of $14.26 million. On average, equities research analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

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.