Avior Wealth Management LLC Grows Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Avior Wealth Management LLC lifted its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 57.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,999 shares of the biopharmaceutical company’s stock after purchasing an additional 1,454 shares during the quarter. Avior Wealth Management LLC’s holdings in Cytokinetics were worth $211,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. J.Safra Asset Management Corp raised its stake in shares of Cytokinetics by 642.3% during the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 456 shares during the last quarter. UMB Bank n.a. raised its position in Cytokinetics by 65.6% in the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 238 shares in the last quarter. Blue Trust Inc. raised its position in Cytokinetics by 225.9% in the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 680 shares in the last quarter. Values First Advisors Inc. purchased a new position in Cytokinetics in the third quarter worth $54,000. Finally, EntryPoint Capital LLC purchased a new position in Cytokinetics in the first quarter worth $74,000.

Cytokinetics Trading Up 3.0 %

Cytokinetics stock opened at $49.10 on Friday. The stock has a market cap of $5.79 billion, a PE ratio of -9.13 and a beta of 0.78. The stock has a 50-day moving average price of $53.60 and a 200 day moving average price of $54.74. Cytokinetics, Incorporated has a 52 week low of $30.68 and a 52 week high of $110.25. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The business had revenue of $0.46 million during the quarter, compared to the consensus estimate of $1.21 million. Cytokinetics’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period last year, the business earned ($1.35) EPS. Equities research analysts predict that Cytokinetics, Incorporated will post -5.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Cytokinetics

In other news, Director Wendall Wierenga sold 4,452 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $52.25, for a total transaction of $232,617.00. Following the completion of the sale, the director now owns 24,559 shares in the company, valued at approximately $1,283,207.75. The trade was a 15.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $50.55, for a total value of $252,750.00. Following the sale, the chief executive officer now owns 397,456 shares of the company’s stock, valued at $20,091,400.80. The trade was a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,078 shares of company stock worth $3,514,119 in the last 90 days. 3.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CYTK has been the subject of several research analyst reports. The Goldman Sachs Group cut Cytokinetics from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $85.00 to $60.00 in a research report on Tuesday, August 13th. HC Wainwright reiterated a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a research report on Monday, November 18th. Royal Bank of Canada assumed coverage on Cytokinetics in a research report on Friday, November 8th. They issued an “outperform” rating and a $80.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research report on Wednesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Cytokinetics Company 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.