Profund Advisors LLC Has $1.27 Million Position in Cytokinetics, Incorporated $CYTK

Profund Advisors LLC increased its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 13.0% in the second quarter, Holdings Channel reports. The institutional investor owned 38,448 shares of the biopharmaceutical company’s stock after buying an additional 4,413 shares during the period. Profund Advisors LLC’s holdings in Cytokinetics were worth $1,270,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Aberdeen Group plc boosted its holdings in Cytokinetics by 53.2% during the second quarter. Aberdeen Group plc now owns 922,929 shares of the biopharmaceutical company’s stock worth $30,494,000 after purchasing an additional 320,508 shares during the last quarter. Zweig DiMenna Associates LLC acquired a new stake in Cytokinetics in the 2nd quarter valued at $1,176,000. Mirador Capital Partners LP increased its stake in Cytokinetics by 45.6% in the 2nd quarter. Mirador Capital Partners LP now owns 144,347 shares of the biopharmaceutical company’s stock valued at $4,769,000 after buying an additional 45,222 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its position in Cytokinetics by 50.6% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 61,783 shares of the biopharmaceutical company’s stock worth $2,041,000 after buying an additional 20,751 shares in the last quarter. Finally, United Services Automobile Association acquired a new position in shares of Cytokinetics during the 1st quarter worth about $331,000.

Cytokinetics Stock Up 3.4%

Shares of NASDAQ CYTK opened at $62.20 on Tuesday. The business’s 50 day moving average price is $55.80 and its two-hundred day moving average price is $42.28. The company has a market cap of $7.60 billion, a PE ratio of -12.20 and a beta of 0.58. Cytokinetics, Incorporated has a twelve month low of $29.31 and a twelve month high of $64.13.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.59) by $0.05. The business had revenue of $1.94 million during the quarter, compared to analyst estimates of $6.05 million. During the same period in the previous year, the business earned ($1.36) earnings per share. The business’s quarterly revenue was up 318.1% on a year-over-year basis. As a group, research analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CYTK shares. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research report on Tuesday, September 2nd. Bank of America increased their price target on Cytokinetics from $52.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, October 2nd. Evercore ISI boosted their price target on Cytokinetics from $60.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 3rd. HC Wainwright reiterated a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a research note on Monday, September 29th. Finally, Raymond James Financial assumed coverage on Cytokinetics in a report on Wednesday, July 30th. They issued a “market perform” rating for the company. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $77.36.

Insiders Place Their Bets

In other news, Director Wendell Wierenga sold 4,375 shares of the firm’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $58.68, for a total transaction of $256,725.00. Following the completion of the sale, the director owned 32,444 shares in the company, valued at approximately $1,903,813.92. This trade represents a 11.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Edward M. Md Kaye sold 6,757 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $60.00, for a total transaction of $405,420.00. Following the completion of the transaction, the director owned 9,778 shares in the company, valued at approximately $586,680. This trade represents a 40.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 56,983 shares of company stock worth $3,165,356. Company insiders own 2.70% of the company’s stock.

About Cytokinetics

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.