Cytokinetics, Incorporated (NASDAQ:CYTK) Position Lifted by Integral Health Asset Management LLC

Integral Health Asset Management LLC raised its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 122.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,000,000 shares of the biopharmaceutical company’s stock after purchasing an additional 550,000 shares during the period. Cytokinetics accounts for about 5.1% of Integral Health Asset Management LLC’s portfolio, making the stock its 3rd largest position. Integral Health Asset Management LLC owned 0.95% of Cytokinetics worth $54,180,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CYTK. J.Safra Asset Management Corp boosted its stake in Cytokinetics by 642.3% in the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 456 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Cytokinetics in the 1st quarter worth $74,000. Bessemer Group Inc. increased its holdings in Cytokinetics by 25,100.0% in the 1st quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock worth $88,000 after acquiring an additional 1,255 shares in the last quarter. nVerses Capital LLC purchased a new stake in Cytokinetics in the 2nd quarter worth $190,000. Finally, Kennedy Capital Management LLC purchased a new stake in Cytokinetics in the 1st quarter worth $224,000.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research note on Monday, September 9th. The Goldman Sachs Group cut shares of Cytokinetics from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $85.00 to $60.00 in a research note on Tuesday, August 13th. Truist Financial lowered their price target on shares of Cytokinetics from $86.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. B. Riley lowered their price target on shares of Cytokinetics from $122.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. Finally, HC Wainwright reissued a “buy” rating and set a $90.00 price target on shares of Cytokinetics in a research report on Friday. 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 stock has an average rating of “Moderate Buy” and an average price target of $80.67.

Cytokinetics Stock Down 3.3 %

CYTK stock opened at $53.77 on Monday. The company’s 50 day moving average price is $56.22 and its 200 day moving average price is $59.18. The company has a debt-to-equity ratio of 5.93, a quick ratio of 10.39 and a current ratio of 10.39. Cytokinetics, Incorporated has a fifty-two week low of $25.98 and a fifty-two week high of $110.25. The firm has a market capitalization of $5.64 billion, a price-to-earnings 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 for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.25). The company had revenue of $0.25 million for the quarter, compared to analysts’ expectations of $7.61 million. During the same quarter last year, the firm earned ($1.34) EPS. The business’s revenue for the quarter was down 71.3% on a year-over-year basis. On average, equities research analysts anticipate that Cytokinetics, Incorporated will post -5.15 EPS for the current fiscal year.

Insider Buying and Selling at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was 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 of the company’s stock, valued at $7,144,974.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Robert I. Blum sold 11,500 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $54.05, for a total transaction of $621,575.00. Following the completion of the sale, the chief executive officer now directly owns 405,145 shares of the company’s stock, valued at $21,898,087.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $53.72, for a total value of $392,156.00. Following the sale, the executive vice president now directly owns 133,004 shares of the company’s stock, valued at $7,144,974.88. The disclosure for this sale can be found here. Insiders have sold 107,837 shares of company stock worth $6,018,383 over the last three months. Insiders own 3.40% of the company’s stock.

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.