Great Point Partners LLC Has $25.69 Million Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Great Point Partners LLC lifted its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 134.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 474,202 shares of the biopharmaceutical company’s stock after purchasing an additional 272,000 shares during the period. Cytokinetics comprises 4.9% of Great Point Partners LLC’s investment portfolio, making the stock its 9th largest holding. Great Point Partners LLC owned approximately 0.45% of Cytokinetics worth $25,692,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Westfield Capital Management Co. LP bought a new stake in Cytokinetics during the 1st quarter worth approximately $51,277,000. Norges Bank bought a new stake in shares of Cytokinetics in the fourth quarter worth $60,299,000. Integral Health Asset Management LLC increased its holdings in Cytokinetics by 122.2% in the second quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $54,180,000 after purchasing an additional 550,000 shares during the period. Fisher Asset Management LLC bought a new position in Cytokinetics during the 4th quarter worth $44,754,000. Finally, Sarissa Capital Management LP acquired a new position in Cytokinetics during the 1st quarter worth about $21,033,000.

Insider Transactions at Cytokinetics

In related news, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $57.03, for a total transaction of $285,150.00. Following the transaction, the chief executive officer now directly owns 397,456 shares in the company, valued at $22,666,915.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $57.03, for a total value of $285,150.00. Following the transaction, the chief executive officer now owns 397,456 shares of the company’s stock, valued at $22,666,915.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Fady Ibraham Malik sold 7,300 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $55.90, for a total value of $408,070.00. Following the sale, the executive vice president now directly owns 131,004 shares of the company’s stock, valued at $7,323,123.60. The disclosure for this sale can be found here. Insiders sold a total of 100,537 shares of company stock worth $5,626,227 in the last quarter. 3.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Cytokinetics Trading Down 3.1 %

Shares of Cytokinetics stock opened at $52.09 on Tuesday. The stock has a market capitalization of $5.46 billion, a PE ratio of -9.65 and a beta of 0.77. Cytokinetics, Incorporated has a 52 week low of $25.98 and a 52 week high of $110.25. The stock has a 50 day moving average price of $56.11 and a two-hundred day moving average price of $59.09. 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 (NASDAQ:CYTK) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.25). The firm had revenue of $0.25 million for the quarter, compared to analysts’ expectations of $7.61 million. During the same period in the prior year, the company earned ($1.34) EPS. Cytokinetics’s revenue was down 71.3% on a year-over-year basis. As a group, equities analysts anticipate 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.