Oppenheimer & Co. Inc. Boosts Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Oppenheimer & Co. Inc. lifted its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 10.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,546 shares of the biopharmaceutical company’s stock after purchasing an additional 824 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Cytokinetics were worth $451,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Louisiana State Employees Retirement System raised its position in Cytokinetics by 0.6% in the third quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the biopharmaceutical company’s stock valued at $1,721,000 after purchasing an additional 200 shares during the period. UMB Bank n.a. lifted its position in Cytokinetics by 65.6% in the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 238 shares during the last quarter. First Bank & Trust boosted its stake in Cytokinetics by 4.7% during the second quarter. First Bank & Trust now owns 6,757 shares of the biopharmaceutical company’s stock worth $366,000 after buying an additional 303 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Cytokinetics by 2.9% during the third quarter. Nisa Investment Advisors LLC now owns 15,062 shares of the biopharmaceutical company’s stock valued at $795,000 after acquiring an additional 430 shares during the last quarter. Finally, J.Safra Asset Management Corp increased its position in shares of Cytokinetics by 642.3% during the second 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.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK opened at $47.67 on Friday. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The company has a 50-day moving average price of $53.74 and a 200 day moving average price of $54.92. Cytokinetics, Incorporated has a 52 week low of $30.68 and a 52 week high of $110.25. The company has a market cap of $5.63 billion, a P/E ratio of -8.86 and a beta of 0.78.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The company had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $1.21 million. During the same quarter in the previous year, the company earned ($1.35) earnings per share. Cytokinetics’s revenue for the quarter was up 22.5% compared to the same quarter last year. Research analysts predict that Cytokinetics, Incorporated will post -5.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

CYTK has been the topic of several research reports. Mizuho increased their price target on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. upped their target price on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. The Goldman Sachs Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $85.00 to $60.00 in a report on Tuesday, August 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a report on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Cytokinetics presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Insider Activity at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 7,384 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $57.01, for a total transaction of $420,961.84. Following the completion of the transaction, the executive vice president now directly owns 122,920 shares in the company, valued at approximately $7,007,669.20. This trade represents a 5.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Wendall Wierenga sold 4,452 shares of Cytokinetics stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $52.25, for a total transaction of $232,617.00. Following the transaction, the director now owns 24,559 shares of the company’s stock, valued at approximately $1,283,207.75. The trade was a 15.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,078 shares of company stock worth $3,514,119 over the last 90 days. Company insiders own 3.40% of the company’s stock.

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.