Profund Advisors LLC Acquires 25,400 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Profund Advisors LLC lifted its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 95.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,921 shares of the biopharmaceutical company’s stock after buying an additional 25,400 shares during the quarter. Profund Advisors LLC’s holdings in Cytokinetics were worth $2,813,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Personalized Indexing Management LLC acquired a new stake in Cytokinetics in the fourth quarter worth about $458,000. Norges Bank acquired a new stake in Cytokinetics in the fourth quarter worth about $60,299,000. TD Asset Management Inc increased its position in Cytokinetics by 82.7% in the fourth quarter. TD Asset Management Inc now owns 182,040 shares of the biopharmaceutical company’s stock worth $15,199,000 after purchasing an additional 82,400 shares during the period. Crestline Management LP increased its position in Cytokinetics by 74.4% in the fourth quarter. Crestline Management LP now owns 34,887 shares of the biopharmaceutical company’s stock worth $2,913,000 after purchasing an additional 14,887 shares during the period. Finally, NEOS Investment Management LLC acquired a new stake in Cytokinetics in the fourth quarter worth about $557,000.

Analysts Set New Price Targets

Several research firms have recently issued reports on CYTK. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research report on Monday, September 9th. The Goldman Sachs Group lowered Cytokinetics from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $85.00 to $60.00 in a research report on Tuesday, August 13th. Truist Financial decreased their target price on Cytokinetics from $86.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. JMP Securities restated a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a research report on Wednesday, September 4th. Finally, B. Riley decreased their target price on Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $80.67.

Cytokinetics Stock Down 3.3 %

Cytokinetics stock opened at $53.77 on Monday. The company has a market cap of $5.64 billion, a P/E ratio of -9.96 and a beta of 0.77. Cytokinetics, Incorporated has a 1-year low of $25.98 and a 1-year high of $110.25. The company has a fifty day simple moving average of $56.22 and a 200 day simple moving average of $59.18. 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 (NASDAQ:CYTK) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.25). The company had revenue of $0.25 million for the quarter, compared to analyst estimates of $7.61 million. The company’s quarterly revenue was down 71.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.34) earnings per share. Research analysts anticipate that Cytokinetics, Incorporated will post -5.15 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Robert I. Blum sold 11,500 shares of Cytokinetics stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $54.05, for a total value of $621,575.00. Following the completion of the transaction, the chief executive officer now owns 405,145 shares of the company’s stock, valued at approximately $21,898,087.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Robert I. Blum sold 11,500 shares of Cytokinetics stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $54.05, for a total transaction of $621,575.00. Following the completion of the sale, the chief executive officer now owns 405,145 shares of the company’s stock, valued at approximately $21,898,087.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.03, for a total transaction of $285,150.00. Following the sale, the chief executive officer now directly owns 397,456 shares of the company’s stock, valued at approximately $22,666,915.68. The disclosure for this sale can be found here. Insiders sold a total of 107,837 shares of company stock valued at $6,018,383 in the last quarter. Company insiders own 3.40% of the company’s stock.

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.