24,732 Shares in Cytokinetics, Incorporated $CYTK Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 24,732 shares of the biopharmaceutical company’s stock, valued at approximately $1,359,000.

A number of other hedge funds have also recently bought and sold shares of CYTK. Millennium Management LLC grew its position in Cytokinetics by 361.9% in the 1st quarter. Millennium Management LLC now owns 287,901 shares of the biopharmaceutical company’s stock worth $11,571,000 after purchasing an additional 225,576 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Cytokinetics by 30.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,476 shares of the biopharmaceutical company’s stock valued at $294,000 after buying an additional 1,988 shares during the period. J. Safra Sarasin Holding AG grew its position in Cytokinetics by 145.4% during the second quarter. J. Safra Sarasin Holding AG now owns 68,190 shares of the biopharmaceutical company’s stock worth $2,253,000 after buying an additional 40,399 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Cytokinetics by 17.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,613 shares of the biopharmaceutical company’s stock worth $152,000 after buying an additional 683 shares in the last quarter. Finally, KLP Kapitalforvaltning AS increased its stake in Cytokinetics by 1.7% during the second quarter. KLP Kapitalforvaltning AS now owns 24,000 shares of the biopharmaceutical company’s stock valued at $793,000 after acquiring an additional 400 shares during the period.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK opened at $63.19 on Friday. The business’s fifty day moving average price is $63.82 and its two-hundred day moving average price is $54.62. Cytokinetics, Incorporated has a fifty-two week low of $29.31 and a fifty-two week high of $70.98. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of -10.05 and a beta of 0.55.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) EPS for the quarter, beating the consensus estimate of ($1.59) by $0.05. The firm had revenue of $1.94 million during the quarter, compared to analyst estimates of $6.05 million. During the same quarter in the prior year, the firm posted ($1.36) EPS. The firm’s revenue for the quarter was up 318.1% on a year-over-year basis. Research analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on CYTK shares. Leerink Partners set a $83.00 price objective on Cytokinetics in a research report on Monday, December 22nd. JPMorgan Chase & Co. upped their target price on Cytokinetics from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Citizens Jmp lifted their price target on shares of Cytokinetics from $78.00 to $88.00 and gave the stock a “market outperform” rating in a research note on Monday, December 22nd. UBS Group reissued a “neutral” rating and issued a $61.00 price target on shares of Cytokinetics in a report on Monday, December 1st. Finally, Barclays began coverage on shares of Cytokinetics in a report on Wednesday. They set an “overweight” rating and a $87.00 price objective for the company. Sixteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

Insider Activity

In other Cytokinetics news, EVP Andrew Callos sold 52,486 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $65.95, for a total value of $3,461,451.70. Following the transaction, the executive vice president directly owned 50,660 shares in the company, valued at $3,341,027. The trade was a 50.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wendell Wierenga sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $66.14, for a total transaction of $1,322,800.00. Following the sale, the director directly owned 32,444 shares of the company’s stock, valued at approximately $2,145,846.16. The trade was a 38.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 150,169 shares of company stock worth $9,776,484 over the last ninety days. Corporate insiders own 2.70% of the company’s stock.

Cytokinetics Company Profile

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.