WINTON GROUP Ltd Makes New $983,000 Investment in Cytokinetics, Incorporated (NASDAQ:CYTK)

WINTON GROUP Ltd bought a new stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,149 shares of the biopharmaceutical company’s stock, valued at approximately $983,000.

A number of other hedge funds have also recently modified their holdings of CYTK. Quadrant Capital Group LLC increased its position in shares of Cytokinetics by 9.6% during the fourth quarter. Quadrant Capital Group LLC now owns 3,268 shares of the biopharmaceutical company’s stock worth $273,000 after acquiring an additional 287 shares during the period. First Bank & Trust increased its holdings in Cytokinetics by 4.7% during the 2nd quarter. First Bank & Trust now owns 6,757 shares of the biopharmaceutical company’s stock worth $366,000 after purchasing an additional 303 shares during the period. J.Safra Asset Management Corp raised its position in Cytokinetics by 642.3% during the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 456 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of 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. Finally, Inspire Investing LLC grew its position in shares of Cytokinetics by 13.5% during the 1st quarter. Inspire Investing LLC now owns 5,087 shares of the biopharmaceutical company’s stock worth $357,000 after buying an additional 605 shares in the last quarter.

Insiders Place Their Bets

In other news, EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $53.72, for a total value of $392,156.00. Following the sale, the executive vice president now owns 133,004 shares in the company, valued at $7,144,974.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director B Lynne Parshall sold 5,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $54.22, for a total transaction of $271,100.00. Following the completion of the sale, the director now owns 20,600 shares of the company’s stock, valued at approximately $1,116,932. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Fady Ibraham Malik sold 7,300 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $53.72, for a total transaction of $392,156.00. Following the completion of the transaction, the executive vice president now directly owns 133,004 shares in the company, valued at $7,144,974.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 107,837 shares of company stock worth $6,018,383. Company insiders own 3.40% of the company’s stock.

Cytokinetics Stock Performance

NASDAQ CYTK opened at $56.75 on Tuesday. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of -10.51 and a beta of 0.77. The stock has a 50-day moving average of $56.23 and a 200 day moving average of $59.56. The company has a current ratio of 10.39, a quick ratio of 10.39 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a twelve month low of $25.98 and a twelve month high of $110.25.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barclays decreased their price objective on Cytokinetics from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. Truist Financial reduced their price target on shares of Cytokinetics from $86.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. Needham & Company LLC reissued a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a report on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their price objective 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. Finally, B. Riley dropped their target price on Cytokinetics from $122.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $80.67.

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.