Harbor Capital Advisors Inc. Buys 2,604 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Harbor Capital Advisors Inc. boosted its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 6.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,130 shares of the biopharmaceutical company’s stock after purchasing an additional 2,604 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Cytokinetics were worth $2,123,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. UMB Bank n.a. raised its stake in shares of Cytokinetics by 65.6% during the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 238 shares in the last quarter. Blue Trust Inc. increased its position in shares of Cytokinetics by 225.9% during the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 680 shares in the last quarter. Values First Advisors Inc. purchased a new stake in shares of Cytokinetics during the 3rd quarter valued at $54,000. Quarry LP boosted its position in shares of Cytokinetics by 233.3% in the 2nd quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Avior Wealth Management LLC grew its stake in Cytokinetics by 57.1% during the 3rd quarter. Avior Wealth Management LLC now owns 3,999 shares of the biopharmaceutical company’s stock worth $211,000 after buying an additional 1,454 shares during the last quarter.

Insider Activity at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $54.19, for a total value of $395,587.00. Following the sale, the executive vice president now owns 116,920 shares of the company’s stock, valued at approximately $6,335,894.80. This trade represents a 5.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wendall Wierenga sold 742 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $48.61, for a total transaction of $36,068.62. Following the transaction, the director now directly owns 24,559 shares in the company, valued at approximately $1,193,812.99. The trade was a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,516 shares of company stock worth $3,103,023 in the last 90 days. Corporate insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

CYTK has been the subject of several recent analyst reports. Mizuho raised their price target on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Royal Bank of Canada boosted their target price on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. Needham & Company LLC reissued a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a report on Monday, December 2nd. Finally, HC Wainwright restated a “buy” rating on shares of Cytokinetics in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Cytokinetics has an average rating of “Moderate Buy” and a consensus price target of $83.64.

Cytokinetics Price Performance

Shares of NASDAQ CYTK opened at $46.62 on Friday. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of -8.67 and a beta of 0.82. The firm’s 50 day simple moving average is $50.42 and its 200-day simple moving average is $53.48. Cytokinetics, Incorporated has a 12 month low of $45.17 and a 12 month high of $100.49.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data 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 business had revenue of $0.46 million for the quarter, compared to the consensus estimate of $1.21 million. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period last year, the firm earned ($1.35) earnings per share. Analysts expect that Cytokinetics, Incorporated will post -5.25 EPS for the current year.

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.