Sanders Morris Harris LLC Purchases New Shares in Cytokinetics, Incorporated $CYTK

Sanders Morris Harris LLC acquired a new position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 23,505 shares of the biopharmaceutical company’s stock, valued at approximately $1,549,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Integrated Wealth Concepts LLC bought a new stake in Cytokinetics in the 2nd quarter valued at $36,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Cytokinetics by 842.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 641 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 573 shares in the last quarter. Western Wealth Management LLC bought a new stake in shares of Cytokinetics in the first quarter valued at about $53,000. EverSource Wealth Advisors LLC boosted its position in shares of Cytokinetics by 55.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,548 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 549 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Cytokinetics by 12.0% during the second quarter. GAMMA Investing LLC now owns 2,487 shares of the biopharmaceutical company’s stock worth $212,000 after buying an additional 266 shares during the period.

Insider Buying and Selling

In related news, Director B. Parshall sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $71.48, for a total transaction of $357,400.00. Following the sale, the director owned 10,784 shares in the company, valued at approximately $770,840.32. This represents a 31.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Fady Malik sold 3,500 shares of the company’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $61.38, for a total value of $214,830.00. Following the sale, the executive vice president owned 153,902 shares in the company, valued at $9,446,504.76. The trade was a 2.22% decrease in their position. 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 sold a total of 191,426 shares of company stock worth $13,601,885 in the last three months. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

CYTK has been the subject of a number of research reports. Truist Financial increased their price objective on Cytokinetics from $106.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Citizens Jmp boosted their target price on Cytokinetics from $105.00 to $110.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th. UBS Group restated a “buy” rating and issued a $104.00 target price on shares of Cytokinetics in a research note on Wednesday. Barclays upped their price target on Cytokinetics from $95.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Finally, Wall Street Zen raised shares of Cytokinetics from a “sell” rating to a “hold” rating in a research note on Monday. Eighteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $105.44.

Cytokinetics Price Performance

NASDAQ:CYTK traded up $1.81 on Wednesday, hitting $63.43. 2,095,733 shares of the company’s stock were exchanged, compared to its average volume of 2,140,029. The firm has a 50-day moving average price of $71.13 and a 200-day moving average price of $73.27. Cytokinetics, Incorporated has a 52 week low of $54.30 and a 52 week high of $88.31. The company has a market cap of $7.89 billion, a P/E ratio of -8.79 and a beta of 0.41.

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

Cytokinetics News Roundup

Here are the key news stories impacting Cytokinetics this week:

• Positive Sentiment: New analyses from the Phase 3 ACACIA-HCM study showed aficamten improved exercise-capacity measures and benefited multiple patient responder groups with non-obstructive hypertrophic cardiomyopathy. The data also supported the drug’s dose-adjustment strategy and safety profile, strengthening the potential regulatory and commercial case for aficamten. ACACIA-HCM Data
• Positive Sentiment: Analyst and market commentary has focused on aficamten’s multi-domain benefits and the possibility that the heart drug could materially improve Cytokinetics’ long-term outlook. The stock has a consensus “Moderate Buy” rating and an average price target of $106.06, well above the recent trading range, although approval and commercialization risks remain. Aficamten HFSA Data
• Neutral Sentiment: CEO Robert Blum sold 7,500 shares for approximately $471,600 at an average price of $62.88. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, and Blum retained 278,544 shares, limiting its significance as a bearish signal. Nevertheless, the sale may create modest short-term pressure on investor sentiment. SEC Form 4 Filing

Cytokinetics Profile

Cytokinetics, Incorporated is a biopharmaceutical company focused on discovering and developing medicines that improve muscle function. The company applies muscle biology and molecular pharmacology to develop therapies for cardiovascular and neuromuscular diseases in which impaired muscle performance contributes to disease progression or disability.

Its lead programs include aficamten, a next-generation cardiac myosin inhibitor being developed for hypertrophic cardiomyopathy, and other investigational compounds designed to modulate the activity of cardiac or skeletal muscle.