Xponance Inc. Invests $469,000 in Cytokinetics, Incorporated (NASDAQ:CYTK)

Xponance Inc. acquired a new position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,623 shares of the biopharmaceutical company’s stock, valued at approximately $469,000.

Several other hedge funds have also modified their holdings of CYTK. China Universal Asset Management Co. Ltd. raised its holdings in shares of Cytokinetics by 96.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,463 shares of the biopharmaceutical company’s stock worth $73,000 after acquiring an additional 1,209 shares in the last quarter. Caprock Group LLC purchased a new stake in shares of Cytokinetics during the 4th quarter worth approximately $216,000. PNC Financial Services Group Inc. increased its position in shares of Cytokinetics by 4.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,373 shares of the biopharmaceutical company’s stock valued at $217,000 after purchasing an additional 340 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Cytokinetics by 5.1% during the 3rd quarter. HighTower Advisors LLC now owns 8,868 shares of the biopharmaceutical company’s stock valued at $261,000 after purchasing an additional 434 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Cytokinetics during the 4th quarter valued at approximately $263,000.

Analyst Ratings Changes

Several research firms have recently weighed in on CYTK. Needham & Company LLC reissued a “buy” rating and set a $108.00 target price on shares of Cytokinetics in a research report on Tuesday, April 9th. Truist Financial reissued a “buy” rating and set a $86.00 target price on shares of Cytokinetics in a research report on Monday, April 8th. Oppenheimer reissued an “outperform” rating and set a $107.00 target price on shares of Cytokinetics in a research report on Monday, March 4th. Mizuho cut their price objective on Cytokinetics from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, March 6th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $90.00 price objective (up previously from $60.00) on shares of Cytokinetics in a research report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Cytokinetics has an average rating of “Moderate Buy” and a consensus price target of $79.33.

Insider Transactions at Cytokinetics

In related news, CEO Robert I. Blum sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $79.57, for a total transaction of $994,625.00. Following the sale, the chief executive officer now directly owns 441,797 shares of the company’s stock, valued at $35,153,787.29. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Robert I. Blum sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $79.57, for a total transaction of $994,625.00. Following the sale, the chief executive officer now directly owns 441,797 shares of the company’s stock, valued at $35,153,787.29. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Fady Ibraham Malik sold 32,605 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total value of $2,585,576.50. Following the completion of the sale, the executive vice president now directly owns 142,973 shares in the company, valued at $11,337,758.90. The disclosure for this sale can be found here. Insiders sold a total of 125,876 shares of company stock worth $9,269,877 over the last three months. 3.40% of the stock is currently owned by insiders.

Cytokinetics Price Performance

Shares of NASDAQ CYTK opened at $65.34 on Friday. The stock has a market capitalization of $6.83 billion, a P/E ratio of -11.99 and a beta of 0.68. Cytokinetics, Incorporated has a 1-year low of $25.98 and a 1-year high of $110.25. The business has a fifty day moving average price of $69.91 and a 200 day moving average price of $59.82.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.35). The business had revenue of $1.70 million during the quarter, compared to the consensus estimate of $7.62 million. During the same period in the previous year, the business posted ($1.45) EPS. The business’s revenue was down 10.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Cytokinetics, Incorporated will post -4.5 earnings per share for the current fiscal year.

About Cytokinetics

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.