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

Inspire Investing LLC raised its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 29.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,571 shares of the biopharmaceutical company’s stock after acquiring an additional 1,484 shares during the period. Inspire Investing LLC’s holdings in Cytokinetics were worth $356,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CYTK. First Bank & Trust increased its stake in Cytokinetics by 4.7% in the second quarter. First Bank & Trust now owns 6,757 shares of the biopharmaceutical company’s stock valued at $366,000 after purchasing an additional 303 shares during the last quarter. J.Safra Asset Management Corp increased its stake in shares of Cytokinetics by 642.3% during 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 last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Cytokinetics by 19.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,416 shares of the biopharmaceutical company’s stock worth $239,000 after acquiring an additional 558 shares during the period. DNB Asset Management AS boosted its position in shares of Cytokinetics by 9.8% in the second quarter. DNB Asset Management AS now owns 7,231 shares of the biopharmaceutical company’s stock worth $392,000 after acquiring an additional 645 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in Cytokinetics in the first quarter valued at approximately $74,000.

Insider Activity

In related news, Director B Lynne Parshall sold 5,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $59.84, for a total value of $299,200.00. Following the sale, the director now directly owns 20,600 shares of the company’s stock, valued at $1,232,704. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director B Lynne Parshall sold 5,000 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $59.84, for a total value of $299,200.00. Following the completion of the sale, the director now owns 20,600 shares of the company’s stock, valued at approximately $1,232,704. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $53.72, for a total transaction of $392,156.00. Following the completion of the sale, the executive vice president now owns 133,004 shares in the company, valued at approximately $7,144,974.88. The disclosure for this sale can be found here. In the last three months, insiders sold 107,837 shares of company stock worth $6,018,383. 3.40% of the stock is currently owned by insiders.

Cytokinetics Stock Performance

NASDAQ:CYTK opened at $53.77 on Friday. The firm has a 50-day moving average of $56.22 and a two-hundred day moving average of $59.24. 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 cap of $5.64 billion, a P/E ratio of -9.96 and a beta of 0.77. Cytokinetics, Incorporated has a 1-year low of $25.98 and a 1-year high of $110.25.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results 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 company had revenue of $0.25 million during the quarter, compared to analysts’ expectations of $7.61 million. During the same period in the prior year, the company earned ($1.34) earnings per share. The business’s revenue was down 71.3% compared to the same quarter last year. On average, research analysts expect that Cytokinetics, Incorporated will post -5.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CYTK shares. The Goldman Sachs Group lowered shares of Cytokinetics from a “buy” rating to a “neutral” rating and decreased their price target for the company from $85.00 to $60.00 in a report on Tuesday, August 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a report on Monday, September 9th. Needham & Company LLC restated a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research note on Tuesday, September 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Cytokinetics in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their target price on Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. One investment 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $80.67.

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.