Profund Advisors LLC Purchases 13,712 Shares of Cytokinetics, Incorporated $CYTK

Profund Advisors LLC grew its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 52.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,642 shares of the biopharmaceutical company’s stock after purchasing an additional 13,712 shares during the quarter. Profund Advisors LLC’s holdings in Cytokinetics were worth $2,519,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CYTK. TD Waterhouse Canada Inc. bought a new stake in shares of Cytokinetics in the 4th quarter valued at $32,000. Quarry LP bought a new stake in shares of Cytokinetics in the 3rd quarter valued at $30,000. Advisory Services Network LLC bought a new stake in shares of Cytokinetics in the 3rd quarter valued at $32,000. Johnson Financial Group Inc. bought a new stake in shares of Cytokinetics in the 3rd quarter valued at $40,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Cytokinetics by 723.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 673 shares in the last quarter.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 36,601 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $62.15, for a total value of $2,274,752.15. Following the transaction, the chief executive officer directly owned 430,330 shares of the company’s stock, valued at approximately $26,745,009.50. This trade represents a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Fady Ibraham Malik sold 12,033 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $62.15, for a total transaction of $747,850.95. Following the completion of the transaction, the executive vice president directly owned 153,902 shares in the company, valued at $9,565,009.30. This trade represents a 7.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 177,476 shares of company stock valued at $11,294,769. Corporate insiders own 2.60% of the company’s stock.

Cytokinetics Trading Up 1.7%

Cytokinetics stock opened at $76.45 on Wednesday. Cytokinetics, Incorporated has a 1-year low of $29.81 and a 1-year high of $80.20. The firm has a market capitalization of $9.51 billion, a price-to-earnings ratio of -11.18 and a beta of 0.38. The firm’s fifty day moving average price is $66.51 and its two-hundred day moving average price is $64.83.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, meeting analysts’ consensus estimates of ($1.67). The business had revenue of $19.36 million during the quarter, compared to the consensus estimate of $8.52 million. During the same period last year, the business posted ($1.36) earnings per share. The firm’s quarterly revenue was up 1112.5% on a year-over-year basis. On average, research analysts forecast that Cytokinetics, Incorporated will post -6.27 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays lifted their price objective on shares of Cytokinetics from $87.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, April 6th. Morgan Stanley lifted their price objective on shares of Cytokinetics from $90.00 to $103.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytokinetics in a research note on Monday, April 20th. Wall Street Zen upgraded shares of Cytokinetics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cytokinetics from $92.00 to $97.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.30.

Cytokinetics Company Profile

Cytokinetics, Inc is a late?stage biopharmaceutical company focused on the discovery and development of novel small?molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.