Seven Fleet Capital Management LP Raises Stock Holdings in Cytokinetics, Incorporated $CYTK

Seven Fleet Capital Management LP raised its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 93.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 118,240 shares of the biopharmaceutical company’s stock after purchasing an additional 56,971 shares during the period. Cytokinetics comprises 1.7% of Seven Fleet Capital Management LP’s holdings, making the stock its 12th largest position. Seven Fleet Capital Management LP owned about 0.10% of Cytokinetics worth $10,073,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp grew its stake in Cytokinetics by 3.7% in the 4th quarter. State Street Corp now owns 5,825,295 shares of the biopharmaceutical company’s stock valued at $370,139,000 after acquiring an additional 207,961 shares during the period. Deep Track Capital LP raised its position in Cytokinetics by 17.8% during the third quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company’s stock worth $236,328,000 after acquiring an additional 650,000 shares during the period. Geode Capital Management LLC lifted its holdings in Cytokinetics by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,056,017 shares of the biopharmaceutical company’s stock valued at $194,214,000 after purchasing an additional 15,815 shares in the last quarter. Vestal Point Capital LP lifted its holdings in Cytokinetics by 14.8% during the second quarter. Vestal Point Capital LP now owns 2,975,000 shares of the biopharmaceutical company’s stock valued at $98,294,000 after purchasing an additional 384,469 shares in the last quarter. Finally, Woodline Partners LP grew its position in shares of 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 purchasing an additional 1,435,422 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CYTK shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Cytokinetics in a research note on Friday, July 17th. Royal Bank Of Canada decreased their price target on shares of Cytokinetics from $117.00 to $112.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th. JPMorgan Chase & Co. boosted their price objective on Cytokinetics from $97.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Citigroup reiterated a “market outperform” rating on shares of Cytokinetics in a research note on Friday, August 7th. Finally, Morgan Stanley raised Cytokinetics from an “overweight” rating to a “buy” rating in a report on Tuesday. Eighteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $103.37.

Insider Transactions at Cytokinetics

In other Cytokinetics news, CEO Robert Blum sold 7,500 shares of Cytokinetics stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $84.92, for a total transaction of $636,900.00. Following the transaction, the chief executive officer directly owned 377,830 shares of the company’s stock, valued at $32,085,323.60. The trade was a 1.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Callos sold 15,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $85.80, for a total transaction of $1,287,000.00. Following the completion of the transaction, the executive vice president owned 58,555 shares in the company, valued at $5,024,019. The trade was a 20.39% 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. Insiders have sold a total of 110,746 shares of company stock worth $8,685,477 in the last quarter. Company insiders own 2.60% of the company’s stock.

Cytokinetics Price Performance

CYTK opened at $72.72 on Friday. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of -10.07 and a beta of 0.36. The company’s 50 day simple moving average is $79.27 and its two-hundred day simple moving average is $72.47. Cytokinetics, Incorporated has a 1-year low of $47.22 and a 1-year high of $88.31.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.63) by $0.13. The company had revenue of $28.62 million during the quarter, compared to analysts’ expectations of $17.59 million. During the same quarter last year, the company earned ($1.12) earnings per share. Cytokinetics’s revenue for the quarter was down 57.1% on a year-over-year basis. On average, equities analysts anticipate that Cytokinetics, Incorporated will post -5.98 earnings per share for the current fiscal 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.