NEOS Investment Management LLC Decreases Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

NEOS Investment Management LLC decreased its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 47,383 shares of the biopharmaceutical company’s stock after selling 3,075 shares during the quarter. NEOS Investment Management LLC’s holdings in Cytokinetics were worth $2,229,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Harvey Capital Management Inc. purchased a new position in Cytokinetics during the fourth quarter worth $1,040,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cytokinetics by 42.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock worth $69,769,000 after acquiring an additional 395,709 shares during the last quarter. abrdn plc lifted its holdings in shares of Cytokinetics by 29.4% in the 4th quarter. abrdn plc now owns 450,513 shares of the biopharmaceutical company’s stock worth $21,192,000 after acquiring an additional 102,457 shares during the last quarter. AlphaQuest LLC boosted its stake in shares of Cytokinetics by 113,500.0% during the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 1,135 shares during the period. Finally, Retirement Systems of Alabama raised its position in Cytokinetics by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company’s stock worth $6,750,000 after purchasing an additional 565 shares during the period.

Cytokinetics Trading Up 0.5 %

NASDAQ:CYTK opened at $43.19 on Friday. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of -8.03 and a beta of 0.95. Cytokinetics, Incorporated has a 52 week low of $40.53 and a 52 week high of $75.71. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The firm has a 50 day moving average of $45.75 and a 200 day moving average of $49.58.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, beating the consensus estimate of ($1.29) by $0.03. The business had revenue of $16.93 million for the quarter, compared to analysts’ expectations of $14.26 million. As a group, sell-side analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CYTK shares. HC Wainwright restated a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research report on Friday, February 28th. Morgan Stanley set a $67.00 price objective on Cytokinetics in a report on Friday, March 7th. Stifel Nicolaus began coverage on Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 target price on the stock. Evercore ISI upgraded shares of Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. Finally, Royal Bank of Canada lifted their price objective on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $82.00.

Insider Transactions at Cytokinetics

In related news, EVP Andrew Callos sold 3,341 shares of Cytokinetics stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $43.27, for a total value of $144,565.07. Following the completion of the sale, the executive vice president now directly owns 64,434 shares in the company, valued at $2,788,059.18. This trade represents a 4.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert I. Blum sold 16,970 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $43.44, for a total transaction of $737,176.80. Following the transaction, the chief executive officer now owns 364,181 shares in the company, valued at $15,820,022.64. The trade was a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,834 shares of company stock worth $1,949,275. Insiders own 3.40% of the company’s stock.

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.