Seven Fleet Capital Management LP Takes Position in Cytokinetics, Incorporated $CYTK

Seven Fleet Capital Management LP bought a new position in Cytokinetics, Incorporated (NASDAQ:CYTK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,335 shares of the biopharmaceutical company’s stock, valued at approximately $657,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CYTK. Woodline Partners LP lifted its holdings in Cytokinetics by 676.1% in the third quarter. Woodline Partners LP now owns 1,647,725 shares of the biopharmaceutical company’s stock valued at $90,559,000 after acquiring an additional 1,435,422 shares during the period. Norges Bank acquired a new stake in shares of Cytokinetics during the 4th quarter worth approximately $51,281,000. Deep Track Capital LP increased its holdings in shares of Cytokinetics by 17.8% during the 3rd quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company’s stock valued at $236,328,000 after purchasing an additional 650,000 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of 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 valued at $35,949,000 after purchasing an additional 565,393 shares in the last quarter. Finally, Foresite Capital Management IV LLC acquired a new position in shares of Cytokinetics in the 3rd quarter valued at $25,188,000.

Insider Transactions at Cytokinetics

In other Cytokinetics news, EVP Andrew Callos sold 15,857 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $65.00, for a total value of $1,030,705.00. Following the completion of the transaction, the executive vice president directly 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director B Lynne Parshall sold 5,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $74.08, for a total value of $370,400.00. Following the sale, the director owned 15,784 shares in the company, valued at approximately $1,169,278.72. The trade was a 24.06% decrease in their ownership of the stock. 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. In the last three months, insiders sold 113,739 shares of company stock valued at $7,837,220. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on CYTK shares. Robert W. Baird set a $84.00 price target on shares of Cytokinetics in a report on Tuesday, March 10th. Royal Bank Of Canada restated an “outperform” rating and set a $119.00 price objective on shares of Cytokinetics in a research report on Wednesday. Truist Financial set a $106.00 target price on Cytokinetics in a research report on Tuesday, May 5th. Stifel Nicolaus boosted their price target on shares of Cytokinetics from $98.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Leerink Partners reissued an “outperform” rating on shares of Cytokinetics in a research note on Tuesday, March 10th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $99.30.

Cytokinetics Price Performance

NASDAQ CYTK opened at $78.78 on Friday. The company has a market capitalization of $9.80 billion, a price-to-earnings ratio of -11.52 and a beta of 0.42. Cytokinetics, Incorporated has a 12 month low of $31.99 and a 12 month high of $80.20. The firm’s fifty day moving average price is $71.19 and its 200 day moving average price is $66.28.

Cytokinetics (NASDAQ:CYTK) last released 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 company had revenue of $19.36 million for the quarter, compared to analysts’ expectations of $8.52 million. The business’s quarterly revenue was up 1112.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.36) EPS. As a group, sell-side analysts forecast that Cytokinetics, Incorporated will post -6.29 earnings per share for the current year.

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.