Edgestream Partners L.P. Acquires New Shares in Cytokinetics, Incorporated (NASDAQ:CYTK)

Edgestream Partners L.P. bought a new position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 15,835 shares of the biopharmaceutical company’s stock, valued at approximately $858,000.

Several other institutional investors also recently modified their holdings of CYTK. J.Safra Asset Management Corp raised its position 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 acquiring an additional 456 shares during the period. EntryPoint Capital LLC acquired a new stake in Cytokinetics in the first quarter worth $74,000. Bessemer Group Inc. boosted its position in shares of Cytokinetics by 25,100.0% during the first quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 1,255 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Cytokinetics in the 2nd quarter valued at $190,000. Finally, Kennedy Capital Management LLC bought a new stake in shares of Cytokinetics in the 1st quarter valued at $224,000.

Cytokinetics Trading Down 3.3 %

Shares of NASDAQ:CYTK opened at $53.77 on Friday. The company’s 50-day moving average price is $56.22 and its two-hundred day moving average price is $59.24. 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 market capitalization of $5.64 billion, a PE ratio of -9.96 and a beta of 0.77.

Cytokinetics (NASDAQ:CYTK) last released its 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 company had revenue of $0.25 million during the quarter, compared to analyst estimates of $7.61 million. The business’s quarterly revenue was down 71.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.34) EPS. On average, equities analysts forecast that Cytokinetics, Incorporated will post -5.15 EPS for the current fiscal year.

Insider Activity

In related news, CEO Robert I. Blum sold 11,500 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $54.05, for a total transaction of $621,575.00. Following the transaction, the chief executive officer now directly owns 405,145 shares in the company, valued at $21,898,087.25. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Fady Ibraham Malik sold 7,300 shares of the firm’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 directly owns 133,004 shares in the company, valued at approximately $7,144,974.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert I. Blum sold 11,500 shares of the business’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 transaction, the chief executive officer now directly owns 405,145 shares in the company, valued at approximately $21,898,087.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 107,837 shares of company stock valued at $6,018,383. 3.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. 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. JPMorgan Chase & Co. increased their target price on Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. HC Wainwright restated a “buy” rating and set a $90.00 target price on shares of Cytokinetics in a report on Friday. B. Riley reduced their price target on shares of Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, June 4th. Finally, Needham & Company LLC restated a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.67.

Cytokinetics 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.