Havemeyer Place LP Acquires New Stake in Cytokinetics, Incorporated $CYTK

Havemeyer Place LP purchased a new position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 7,923 shares of the biopharmaceutical company’s stock, valued at approximately $503,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CYTK. Woodline Partners LP lifted its position in Cytokinetics by 676.1% during the 3rd quarter. Woodline Partners LP now owns 1,647,725 shares of the biopharmaceutical company’s stock worth $90,559,000 after buying an additional 1,435,422 shares in the last quarter. Norges Bank bought a new stake in Cytokinetics during the 4th quarter worth about $51,281,000. Deep Track Capital LP lifted its position in Cytokinetics by 17.8% during the 3rd quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company’s stock worth $236,328,000 after buying an additional 650,000 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Cytokinetics by 151,987.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 565,765 shares of the biopharmaceutical company’s stock worth $35,949,000 after buying an additional 565,393 shares in the last quarter. Finally, Foresite Capital Management IV LLC bought a new stake in Cytokinetics during the 3rd quarter worth about $25,188,000.

Cytokinetics Stock Up 0.8%

Shares of NASDAQ:CYTK opened at $68.45 on Wednesday. The company’s 50 day moving average price is $70.18 and its two-hundred day moving average price is $65.98. Cytokinetics, Incorporated has a 12-month low of $31.99 and a 12-month high of $80.20. The firm has a market cap of $8.52 billion, a PE ratio of -10.01 and a beta of 0.42.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($1.67). The firm had revenue of $19.36 million for the quarter, compared to analyst estimates of $8.52 million. The business’s revenue was up 1112.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.36) EPS. On average, research analysts expect that Cytokinetics, Incorporated will post -6.29 EPS for the current year.

Insider Activity at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 12,033 shares of the 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 sale, the executive vice president directly owned 153,902 shares in the company, valued at $9,565,009.30. This represents a 7.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Andrew Callos sold 15,857 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $65.00, for a total transaction of $1,030,705.00. Following the sale, the executive vice president owned 58,555 shares of the company’s stock, valued at approximately $3,806,075. This trade represents a 21.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 171,989 shares of company stock valued at $11,393,064 in the last quarter. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Citizens Jmp upped their target price on shares of Cytokinetics from $88.00 to $96.00 and gave the company a “market outperform” rating in a report on Wednesday, February 25th. Mizuho upped their target price on shares of Cytokinetics from $84.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, March 18th. Citigroup assumed coverage on shares of Cytokinetics in a report on Monday, May 18th. They issued a “buy” rating and a $99.00 target price on the stock. UBS Group set a $119.00 target price on shares of Cytokinetics in a report on Wednesday, May 6th. Finally, Barclays upped their target price on shares of Cytokinetics from $87.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, April 6th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $99.30.

Cytokinetics 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.