Lighthouse Investment Partners LLC Takes $1.58 Million Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Lighthouse Investment Partners LLC acquired a new stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTKFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 18,930 shares of the biopharmaceutical company’s stock, valued at approximately $1,580,000.

Other hedge funds have also recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new position in shares of Cytokinetics during the fourth quarter valued at approximately $46,308,000. Vanguard Group Inc. grew its position in Cytokinetics by 4.6% during the third quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company’s stock valued at $316,498,000 after buying an additional 472,595 shares during the period. HealthInvest Partners AB bought a new stake in Cytokinetics during the fourth quarter valued at approximately $980,000. Legato Capital Management LLC bought a new stake in Cytokinetics during the fourth quarter valued at approximately $1,305,000. Finally, Vestal Point Capital LP bought a new stake in Cytokinetics during the fourth quarter valued at approximately $4,174,000.

Cytokinetics Stock Up 2.6 %

Cytokinetics stock opened at $54.16 on Tuesday. The firm’s fifty day moving average is $62.13 and its 200 day moving average is $65.17. Cytokinetics, Incorporated has a 52-week low of $25.98 and a 52-week high of $110.25.

Cytokinetics (NASDAQ:CYTKGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.17). The company had revenue of $0.84 million for the quarter, compared to the consensus estimate of $0.91 million. The firm’s quarterly revenue was down 81.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.38) earnings per share. Equities research analysts expect that Cytokinetics, Incorporated will post -4.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JMP Securities cut their target price on shares of Cytokinetics from $106.00 to $78.00 and set a “market outperform” rating for the company in a research report on Tuesday, May 28th. Mizuho cut their target price on shares of Cytokinetics from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, March 6th. Raymond James cut their target price on shares of Cytokinetics from $92.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Truist Financial dropped their price target on shares of Cytokinetics from $86.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. Finally, B. Riley dropped their price target on shares of Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $76.41.

View Our Latest Stock Analysis on Cytokinetics

Insider Activity at Cytokinetics

In other news, CAO Robert Wong sold 13,011 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $48.88, for a total value of $635,977.68. Following the sale, the chief accounting officer now owns 16,653 shares of the company’s stock, valued at $813,998.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Muna Bhanji sold 2,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $52.07, for a total value of $104,140.00. Following the transaction, the director now directly owns 17,631 shares in the company, valued at $918,046.17. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Robert Wong sold 13,011 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $48.88, for a total transaction of $635,977.68. Following the completion of the transaction, the chief accounting officer now owns 16,653 shares in the company, valued at $813,998.64. The disclosure for this sale can be found here. Insiders have sold a total of 97,805 shares of company stock valued at $6,032,908 over the last 90 days. 3.40% of the stock is owned by corporate insiders.

Cytokinetics Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Cytokinetics (NASDAQ:CYTK)

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