Eventide Asset Management LLC Buys 309,503 Shares of Cytokinetics, Incorporated $CYTK

Eventide Asset Management LLC lifted its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 181.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 479,611 shares of the biopharmaceutical company’s stock after purchasing an additional 309,503 shares during the quarter. Eventide Asset Management LLC owned 0.39% of Cytokinetics worth $30,473,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Cytokinetics by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 12,048,131 shares of the biopharmaceutical company’s stock valued at $765,538,000 after purchasing an additional 191,336 shares during the last quarter. Hudson Bay Capital Management LP grew its holdings in shares of Cytokinetics by 15.4% during the 3rd quarter. Hudson Bay Capital Management LP now owns 182,131 shares of the biopharmaceutical company’s stock valued at $10,010,000 after purchasing an additional 24,345 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Cytokinetics by 23.4% during the 3rd quarter. TD Asset Management Inc now owns 671,780 shares of the biopharmaceutical company’s stock valued at $36,921,000 after purchasing an additional 127,488 shares during the last quarter. Knott David M Jr bought a new stake in shares of Cytokinetics during the 3rd quarter valued at approximately $1,649,000. Finally, Boxer Capital Management LLC bought a new stake in shares of Cytokinetics during the 3rd quarter valued at approximately $10,992,000.

Cytokinetics Stock Performance

Shares of NASDAQ CYTK opened at $70.15 on Friday. The company has a market capitalization of $8.73 billion, a P/E ratio of -10.26 and a beta of 0.42. Cytokinetics, Incorporated has a 52-week low of $31.99 and a 52-week high of $80.20. The company’s 50 day moving average price is $70.40 and its 200-day moving average price is $66.06.

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

Insider Activity at Cytokinetics

In related news, CEO Robert I. Blum sold 36,601 shares of the business’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 $2,274,752.15. Following the transaction, the chief executive officer owned 430,330 shares in the company, valued at $26,745,009.50. The trade was a 7.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew Callos sold 15,857 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $65.00, for a total transaction of $1,030,705.00. Following the transaction, the executive vice president owned 58,555 shares in the company, valued at $3,806,075. The trade was a 21.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 171,989 shares of company stock worth $11,393,064 in the last quarter. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

CYTK has been the topic of several recent research reports. Robert W. Baird set a $84.00 target price on shares of Cytokinetics in a research report on Tuesday, March 10th. Citigroup assumed coverage on shares of Cytokinetics in a research report on Monday, May 18th. They set a “buy” rating and a $99.00 target price on the stock. Wall Street Zen upgraded shares of Cytokinetics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Cytokinetics in a research report on Monday, April 20th. Finally, Barclays boosted their price target on shares of Cytokinetics from $87.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, April 6th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $99.30.

About Cytokinetics

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.