Intech Investment Management LLC Buys Shares of 32,671 Cytokinetics, Incorporated (NASDAQ:CYTK)

Intech Investment Management LLC bought a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 32,671 shares of the biopharmaceutical company’s stock, valued at approximately $1,725,000.

Other hedge funds also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp lifted its stake in Cytokinetics by 642.3% in the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 456 shares during the last quarter. UMB Bank n.a. lifted its stake in Cytokinetics by 65.6% in the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 238 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Cytokinetics by 225.9% during the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 680 shares in the last quarter. Values First Advisors Inc. bought a new stake in shares of Cytokinetics during the third quarter valued at about $54,000. Finally, Bessemer Group Inc. raised its stake in shares of Cytokinetics by 25,100.0% during the first quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 1,255 shares in the last quarter.

Cytokinetics Trading Up 2.3 %

Shares of CYTK opened at $50.25 on Tuesday. The business’s 50-day moving average price is $53.47 and its 200 day moving average price is $54.57. The stock has a market capitalization of $5.93 billion, a P/E ratio of -9.34 and a beta of 0.78. Cytokinetics, Incorporated has a 1-year low of $30.68 and a 1-year high of $110.25. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The company had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $1.21 million. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.35) earnings per share. Analysts expect that Cytokinetics, Incorporated will post -5.25 earnings per share for the current year.

Insider Buying and Selling

In other Cytokinetics news, 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 transaction, the chief executive officer now owns 397,456 shares of the company’s stock, valued at $22,666,915.68. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $52.10, for a total value of $380,330.00. Following the transaction, the executive vice president now directly owns 118,920 shares in the company, valued at approximately $6,195,732. This trade represents a 5.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,078 shares of company stock valued at $3,514,119. 3.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CYTK has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. Mizuho lifted their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. The Goldman Sachs Group cut shares of Cytokinetics from a “buy” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $60.00 in a research note on Tuesday, August 13th. JMP Securities restated a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research note on Wednesday, September 4th. Finally, Needham & Company LLC restated a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.93.

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.