Hood River Capital Management LLC Has $17.11 Million Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

Hood River Capital Management LLC raised its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 2.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 486,272 shares of the biopharmaceutical company’s stock after purchasing an additional 10,799 shares during the period. Hood River Capital Management LLC owned approximately 0.51% of Cytokinetics worth $17,112,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its stake in shares of Cytokinetics by 33.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 1,282 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 321 shares during the last quarter. Archer Investment Corp purchased a new position in shares of Cytokinetics in the 1st quarter worth approximately $51,000. Natixis purchased a new position in shares of Cytokinetics in the 4th quarter worth approximately $73,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Cytokinetics in the 4th quarter worth approximately $103,000. Finally, Captrust Financial Advisors boosted its stake in shares of Cytokinetics by 79.8% in the 1st quarter. Captrust Financial Advisors now owns 3,910 shares of the biopharmaceutical company’s stock worth $144,000 after buying an additional 1,735 shares during the last quarter.

Insider Transactions at Cytokinetics

In other news, CEO Robert I. Blum sold 12,500 shares of the company’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $33.99, for a total value of $424,875.00. Following the transaction, the chief executive officer now owns 441,417 shares of the company’s stock, valued at $15,003,763.83. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Robert I. Blum sold 12,500 shares of the company’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $33.99, for a total value of $424,875.00. Following the completion of the transaction, the chief executive officer now directly owns 441,417 shares in the company, valued at $15,003,763.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Muna Bhanji sold 2,000 shares of the company’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $34.12, for a total transaction of $68,240.00. Following the completion of the transaction, the director now owns 14,031 shares of the company’s stock, valued at $478,737.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,520 shares of company stock valued at $2,898,550. 3.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CYTK has been the topic of a number of research analyst reports. HC Wainwright restated a “buy” rating and issued a $49.00 target price on shares of Cytokinetics in a research note on Friday, August 4th. StockNews.com started coverage on Cytokinetics in a research note on Thursday, August 17th. They issued a “sell” rating on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of Cytokinetics in a research note on Tuesday, August 15th. JPMorgan Chase & Co. upped their price objective on Cytokinetics from $52.00 to $54.00 in a research note on Thursday, June 22nd. Finally, SVB Leerink started coverage on Cytokinetics in a research note on Tuesday, August 15th. They issued an “outperform” rating and a $58.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.21.

Cytokinetics Stock Performance

CYTK stock traded down $0.55 during midday trading on Friday, reaching $36.06. 699,707 shares of the company’s stock traded hands, compared to its average volume of 561,490. The company has a 50-day moving average price of $33.67 and a two-hundred day moving average price of $35.99. Cytokinetics, Incorporated has a 52 week low of $30.66 and a 52 week high of $55.80. The firm has a market capitalization of $3.46 billion, a PE ratio of -6.34 and a beta of 0.74.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($1.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.11). The business had revenue of $0.87 million for the quarter, compared to the consensus estimate of $5.67 million. Cytokinetics had a negative net margin of 5,419.17% and a negative return on equity of 1,401.63%. The company’s revenue was down 99.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.23) EPS. As a group, analysts predict that Cytokinetics, Incorporated will post -4.1 EPS for the current fiscal 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.