BIT Capital GmbH Purchases Shares of 19,283 Cytokinetics, Incorporated (NASDAQ:CYTK)

BIT Capital GmbH acquired a new position in Cytokinetics, Incorporated (NASDAQ:CYTK) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 19,283 shares of the biopharmaceutical company’s stock, valued at approximately $907,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CYTK. Jones Financial Companies Lllp boosted its holdings in Cytokinetics by 189.8% in the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 374 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Cytokinetics by 0.4% in the third quarter. MetLife Investment Management LLC now owns 123,308 shares of the biopharmaceutical company’s stock worth $6,511,000 after acquiring an additional 538 shares during the period. Retirement Systems of Alabama grew its position in shares of Cytokinetics by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company’s stock worth $6,750,000 after purchasing an additional 565 shares in the last quarter. Arizona State Retirement System raised its stake in Cytokinetics by 1.9% during the 4th quarter. Arizona State Retirement System now owns 32,366 shares of the biopharmaceutical company’s stock valued at $1,522,000 after purchasing an additional 600 shares during the period. Finally, Inspire Investing LLC lifted its holdings in Cytokinetics by 7.8% in the 4th quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock worth $400,000 after purchasing an additional 616 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CYTK shares. Citigroup started coverage on shares of Cytokinetics in a report on Friday, February 7th. They set a “buy” rating and a $86.00 price objective for the company. Morgan Stanley set a $67.00 price target on shares of Cytokinetics in a report on Friday, March 7th. Stifel Nicolaus assumed coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a research report on Friday, February 28th. Finally, Royal Bank of Canada lifted their target price on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $82.00.

Cytokinetics Stock Down 2.1 %

Shares of NASDAQ CYTK opened at $43.63 on Thursday. Cytokinetics, Incorporated has a 52-week low of $40.53 and a 52-week high of $75.71. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of -8.11 and a beta of 0.95. The stock has a 50 day moving average price of $45.88 and a 200 day moving average price of $49.71. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.03. The firm had revenue of $16.93 million during the quarter, compared to analysts’ expectations of $14.26 million. Sell-side analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $45.92, for a total value of $91,840.00. Following the transaction, the executive vice president now directly owns 116,071 shares in the company, valued at approximately $5,329,980.32. This trade represents a 1.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert I. Blum sold 16,970 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $43.44, for a total value of $737,176.80. Following the sale, the chief executive officer now owns 364,181 shares of the company’s stock, valued at $15,820,022.64. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,834 shares of company stock valued at $1,949,275 over the last three months. 3.40% of the stock is owned by company insiders.

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.