Xponance Inc. Grows Stock Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Xponance Inc. lifted its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 9.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,202 shares of the biopharmaceutical company’s stock after purchasing an additional 1,348 shares during the period. Xponance Inc.’s holdings in Cytokinetics were worth $824,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CYTK. J.Safra Asset Management Corp grew its position in shares of Cytokinetics by 642.3% in the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 456 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Cytokinetics during the 1st quarter valued at $74,000. Bessemer Group Inc. raised its holdings in Cytokinetics by 25,100.0% in the 1st quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 1,255 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Cytokinetics in the 2nd quarter worth about $190,000. Finally, Kennedy Capital Management LLC bought a new stake in shares of Cytokinetics during the 1st quarter valued at about $224,000.

Cytokinetics Stock Performance

Shares of CYTK opened at $52.34 on Friday. The company has a market cap of $5.49 billion, a price-to-earnings ratio of -9.69 and a beta of 0.77. The business’s fifty day simple moving average is $55.80 and its two-hundred day simple moving average is $58.78. Cytokinetics, Incorporated has a 12 month low of $25.98 and a 12 month high of $110.25. 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 quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The company had revenue of $0.25 million during the quarter, compared to the consensus estimate of $7.61 million. During the same period last year, the firm earned ($1.34) EPS. The business’s quarterly revenue was down 71.3% compared to the same quarter last year. Research analysts anticipate that Cytokinetics, Incorporated will post -5.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research report on Monday, September 9th. The Goldman Sachs Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $85.00 to $60.00 in a report on Tuesday, August 13th. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 target price on shares of Cytokinetics in a research report on Friday, September 20th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Cytokinetics has an average rating of “Moderate Buy” and an average target price of $80.67.

Insider Transactions at Cytokinetics

In related news, Director B Lynne Parshall sold 5,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $54.22, for a total transaction of $271,100.00. Following the transaction, the director now owns 20,600 shares in the company, valued at $1,116,932. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director B Lynne Parshall sold 5,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $54.22, for a total transaction of $271,100.00. Following the transaction, the director now directly owns 20,600 shares of the company’s stock, valued at approximately $1,116,932. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Fady Ibraham Malik sold 7,384 shares of Cytokinetics stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $57.01, for a total value of $420,961.84. Following the completion of the sale, the executive vice president now directly owns 122,920 shares of the company’s stock, valued at approximately $7,007,669.20. The disclosure for this sale can be found here. Insiders sold 100,537 shares of company stock worth $5,626,227 over the last three months. 3.40% of the stock is currently owned by company insiders.

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.