Cytokinetics, Incorporated $CYTK Shares Purchased by Candriam S.C.A.

Candriam S.C.A. increased its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 39.3% in the third quarter, Holdings Channel.com reports. The fund owned 617,386 shares of the biopharmaceutical company’s stock after buying an additional 174,320 shares during the quarter. Candriam S.C.A.’s holdings in Cytokinetics were worth $40,841,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Integrated Wealth Concepts LLC bought a new position in Cytokinetics in the 2nd quarter valued at $36,000. Physician Wealth Advisors Inc. increased its stake in Cytokinetics by 810.2% in the third quarter. Physician Wealth Advisors Inc. now owns 446 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 397 shares during the period. V Square Quantitative Management LLC increased its stake in Cytokinetics by 71.5% in the third quarter. V Square Quantitative Management LLC now owns 458 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 191 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of Cytokinetics by 842.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 641 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 573 shares during the last quarter. Finally, Manchester Capital Management LLC bought a new stake in shares of Cytokinetics during the third quarter worth $43,000.

Cytokinetics Trading Down 3.3%

Shares of CYTK stock opened at $53.69 on Friday. Cytokinetics, Incorporated has a twelve month low of $53.55 and a twelve month high of $88.31. The stock has a fifty day simple moving average of $65.68 and a two-hundred day simple moving average of $69.97. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of -8.89 and a beta of 0.45.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Wednesday, November 4th. The biopharmaceutical company reported ($1.37) EPS for the quarter, beating the consensus estimate of ($1.43) by $0.06. The firm had revenue of $47.56 million for the quarter, compared to analysts’ expectations of $41.88 million. The business’s quarterly revenue was up 2356.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($2.55) EPS. Research analysts predict that Cytokinetics, Incorporated will post -5.86 EPS for the current fiscal year.

Key Headlines Impacting Cytokinetics

Here are the key news stories impacting Cytokinetics this week:

• Positive Sentiment: Cytokinetics reported a third-quarter loss of $1.37 per share, narrower than the $1.43-per-share consensus loss, and revenue of $47.56 million versus expectations of $41.88 million. Revenue rose sharply year over year, and the loss narrowed from $2.55 per share a year earlier. Earnings results
• Positive Sentiment: RBC Capital Markets sees MYQORZO potentially driving a revenue inflection starting in 2027, supporting the longer-term growth case. RBC Capital Markets view
• Positive Sentiment: Analyst sentiment remained supportive: Morgan Stanley initiated a Buy view, while Citigroup raised its target to $105 and Leerink Partners set a new $100 target with an Outperform rating. Morgan Stanley rating Citigroup rating
• Neutral Sentiment: Leerink’s $100 target was reduced from $103, a modest cut that tempers the otherwise positive analyst news, though the firm maintained its Outperform rating. Leerink Partners rating

Insider Buying and Selling

In other Cytokinetics news, EVP Fady Malik sold 3,500 shares of the stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $62.93, for a total transaction of $220,255.00. Following the transaction, the executive vice president directly owned 153,902 shares in the company, valued at $9,685,052.86. This represents a 2.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Landry sold 1,000 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $72.13, for a total transaction of $72,130.00. Following the transaction, the director owned 8,184 shares in the company, valued at approximately $590,311.92. The trade was a 10.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 180,926 shares of company stock valued at $12,510,340 over the last three months. 2.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. UBS Group reissued a “buy” rating and set a $104.00 target price on shares of Cytokinetics in a research note on Wednesday, October 14th. Needham & Company LLC raised their price target on shares of Cytokinetics from $102.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. raised their price target on shares of Cytokinetics from $97.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Royal Bank Of Canada lifted their price objective on shares of Cytokinetics from $112.00 to $113.00 and gave the company an “outperform” rating in a report on Thursday, October 8th. Finally, Leerink Partners lowered their price objective on shares of Cytokinetics from $103.00 to $100.00 and set an “outperform” rating for the company in a research report on Thursday. Nineteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.67.

Cytokinetics Profile

Cytokinetics is a biopharmaceutical company focused on discovering and developing medicines that target the biology of muscle function. Its research centers on therapies for conditions involving impaired cardiac muscle performance.

The company’s work includes aficamten, a cardiac myosin inhibitor developed for hypertrophic cardiomyopathy, and other drug candidates designed to affect muscle contraction. Cytokinetics conducts research and clinical development through programs that may involve patients and collaborators in multiple countries.

Founded in 1997, Cytokinetics is based in South San Francisco, California.