Susquehanna Fundamental Investments LLC Takes $4.70 Million Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Susquehanna Fundamental Investments LLC bought a new position in Cytokinetics, Incorporated (NASDAQ:CYTK) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 67,076 shares of the biopharmaceutical company’s stock, valued at approximately $4,703,000. Susquehanna Fundamental Investments LLC owned about 0.06% of Cytokinetics as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp grew its holdings in Cytokinetics by 94.1% in the 1st quarter. Fifth Third Bancorp now owns 656 shares of the biopharmaceutical company’s stock worth $46,000 after acquiring an additional 318 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Cytokinetics in the fourth quarter worth about $80,000. Sage Rhino Capital LLC purchased a new position in Cytokinetics during the 4th quarter valued at about $204,000. Caprock Group LLC bought a new position in Cytokinetics during the 4th quarter valued at approximately $216,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Cytokinetics by 19.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,416 shares of the biopharmaceutical company’s stock worth $239,000 after buying an additional 558 shares during the period.

Cytokinetics Price Performance

Shares of CYTK traded up $0.22 during trading hours on Monday, hitting $56.20. The company had a trading volume of 282,352 shares, compared to its average volume of 2,608,956. Cytokinetics, Incorporated has a 52-week low of $25.98 and a 52-week high of $110.25. The firm has a fifty day moving average price of $54.91 and a 200-day moving average price of $68.00.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.17). The firm had revenue of $0.84 million for the quarter, compared to analysts’ expectations of $0.91 million. The business’s quarterly revenue was down 81.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.38) EPS. Sell-side analysts predict that Cytokinetics, Incorporated will post -4.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CYTK. HC Wainwright reissued a “buy” rating and set a $90.00 target price on shares of Cytokinetics in a research note on Monday, June 17th. Barclays reduced their price objective on shares of Cytokinetics from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. JPMorgan Chase & Co. dropped their target price on shares of Cytokinetics from $77.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Needham & Company LLC cut their target price on shares of Cytokinetics from $108.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Finally, Raymond James decreased their price target on shares of Cytokinetics from $92.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cytokinetics currently has an average rating of “Moderate Buy” and an average target price of $77.06.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, Director John T. Henderson sold 10,562 shares of Cytokinetics stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $64.54, for a total value of $681,671.48. Following the completion of the sale, the director now owns 32,070 shares of the company’s stock, valued at approximately $2,069,797.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Robert Arthur Harrington sold 1,580 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $48.64, for a total transaction of $76,851.20. Following the completion of the sale, the director now directly owns 15,541 shares in the company, valued at $755,914.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John T. Henderson sold 10,562 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $64.54, for a total transaction of $681,671.48. Following the completion of the transaction, the director now owns 32,070 shares in the company, valued at $2,069,797.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,341 shares of company stock worth $7,800,408. Insiders own 3.40% of the company’s stock.

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.