Creative Planning Raises Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Creative Planning boosted its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 50.5% during the third quarter, Holdings Channel.com reports. The firm owned 23,666 shares of the biopharmaceutical company’s stock after buying an additional 7,939 shares during the quarter. Creative Planning’s holdings in Cytokinetics were worth $1,250,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. J.Safra Asset Management Corp raised its stake in shares of Cytokinetics by 642.3% in the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 456 shares during the period. UMB Bank n.a. raised its stake in shares of Cytokinetics by 65.6% in the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 238 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of Cytokinetics in the 1st quarter valued at approximately $74,000. Bessemer Group Inc. raised its stake in shares of Cytokinetics by 25,100.0% in the 1st quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock valued at $88,000 after acquiring an additional 1,255 shares during the period. Finally, Quarry LP raised its stake in shares of Cytokinetics by 233.3% in the 2nd quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock valued at $108,000 after acquiring an additional 1,400 shares during the period.

Cytokinetics Trading Down 0.4 %

Shares of NASDAQ:CYTK opened at $51.31 on Thursday. Cytokinetics, Incorporated has a 52 week low of $30.68 and a 52 week high of $110.25. The company’s 50 day moving average is $54.50 and its two-hundred day moving average is $56.23. The company has a current ratio of 10.39, a quick ratio of 10.39 and a debt-to-equity ratio of 5.93. The company has a market cap of $6.04 billion, a PE ratio of -9.55 and a beta of 0.77.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.25). The business had revenue of $0.25 million for the quarter, compared to the consensus estimate of $7.61 million. During the same quarter in the previous year, the company posted ($1.34) earnings per share. The company’s revenue was down 71.3% on a year-over-year basis. Equities analysts predict that Cytokinetics, Incorporated will post -5.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CYTK shares. JMP Securities reissued a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research note on Wednesday, September 4th. The Goldman Sachs Group downgraded shares of Cytokinetics from a “buy” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $60.00 in a research note on Tuesday, August 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. upped their target price on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, Director B Lynne Parshall sold 5,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $55.20, for a total value of $276,000.00. Following the sale, the director now directly owns 20,600 shares of the company’s stock, valued at approximately $1,137,120. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director B Lynne Parshall sold 5,000 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $55.20, for a total value of $276,000.00. Following the transaction, the director now directly owns 20,600 shares of the company’s stock, valued at $1,137,120. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $54.19, for a total transaction of $395,587.00. Following the completion of the transaction, the executive vice president now directly owns 116,920 shares in the company, valued at $6,335,894.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,784 shares of company stock valued at $3,323,317. Insiders own 3.40% of the company’s stock.

Cytokinetics Profile

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.