Janus Henderson Group PLC Boosts Stock Position in Cytokinetics, Incorporated $CYTK

Janus Henderson Group PLC grew its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 10.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 282,121 shares of the biopharmaceutical company’s stock after purchasing an additional 25,909 shares during the quarter. Janus Henderson Group PLC’s holdings in Cytokinetics were worth $18,593,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in Cytokinetics by 723.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 673 shares during the last quarter. Kemnay Advisory Services Inc. bought a new position in Cytokinetics during the fourth quarter valued at approximately $27,000. Kestra Advisory Services LLC bought a new position in Cytokinetics during the fourth quarter valued at approximately $29,000. Quarry LP purchased a new position in shares of Cytokinetics during the third quarter worth approximately $30,000. Finally, TD Waterhouse Canada Inc. purchased a new position in shares of Cytokinetics during the fourth quarter worth approximately $32,000.

Cytokinetics Stock Performance

Shares of Cytokinetics stock opened at $76.45 on Tuesday. Cytokinetics, Incorporated has a 52-week low of $32.89 and a 52-week high of $88.31. The company’s 50 day moving average price is $78.74 and its 200-day moving average price is $70.52. The stock has a market capitalization of $9.51 billion, a price-to-earnings ratio of -11.18 and a beta of 0.39.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) EPS for the quarter, meeting analysts’ consensus estimates of ($1.67). The firm had revenue of $19.36 million for the quarter, compared to the consensus estimate of $8.52 million. The company’s quarterly revenue was up 1112.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.36) earnings per share. As a group, equities research analysts forecast that Cytokinetics, Incorporated will post -6.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Barclays upped their price objective on shares of Cytokinetics from $87.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, April 6th. Truist Financial set a $106.00 price target on shares of Cytokinetics in a research note on Tuesday, May 5th. Wells Fargo & Company raised their price objective on Cytokinetics from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Needham & Company LLC reiterated a “buy” rating and issued a $102.00 price objective on shares of Cytokinetics in a report on Wednesday, June 17th. Finally, Stifel Nicolaus lifted their price objective on Cytokinetics from $98.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $99.90.

Insider Buying and Selling at Cytokinetics

In other news, EVP Andrew Callos sold 15,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $74.08, for a total transaction of $1,111,200.00. Following the completion of the sale, the executive vice president directly owned 58,555 shares in the company, valued at approximately $4,337,754.40. This represents a 20.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director B Lynne Parshall sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $74.08, for a total value of $370,400.00. Following the completion of the sale, the director directly owned 15,784 shares in the company, valued at $1,169,278.72. The trade was a 24.06% 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. Over the last quarter, insiders have sold 115,179 shares of company stock worth $9,126,054. 2.60% of the stock is currently owned by company insiders.

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.