Carlson Capital L.P. Has $258,000 Stock Position in Cytokinetics, Incorporated $CYTK

Carlson Capital L.P. lowered its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 77.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 4,700 shares of the biopharmaceutical company’s stock after selling 15,800 shares during the period. Carlson Capital L.P.’s holdings in Cytokinetics were worth $258,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of Cytokinetics by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,994,445 shares of the biopharmaceutical company’s stock worth $98,948,000 after acquiring an additional 56,961 shares during the period. Vestal Point Capital LP lifted its holdings in Cytokinetics by 14.8% during the 2nd quarter. Vestal Point Capital LP now owns 2,975,000 shares of the biopharmaceutical company’s stock valued at $98,294,000 after purchasing an additional 384,469 shares during the last quarter. Norges Bank bought a new position in Cytokinetics during the second quarter worth $39,122,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. increased its holdings in shares of Cytokinetics by 571.2% in the second quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 1,082,563 shares of the biopharmaceutical company’s stock valued at $35,768,000 after purchasing an additional 921,278 shares during the last quarter. Finally, Aberdeen Group plc raised its position in shares of Cytokinetics by 53.2% in the second quarter. Aberdeen Group plc now owns 922,929 shares of the biopharmaceutical company’s stock valued at $30,494,000 after purchasing an additional 320,508 shares during the period.

Cytokinetics Stock Performance

NASDAQ:CYTK opened at $62.34 on Friday. The company has a market cap of $7.62 billion, a price-to-earnings ratio of -9.91 and a beta of 0.54. Cytokinetics, Incorporated has a fifty-two week low of $29.31 and a fifty-two week high of $70.98. The stock has a fifty day moving average price of $63.35 and a 200-day moving average price of $55.50.

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

Insider Buying and Selling

In other news, Director Wendell Wierenga sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $66.14, for a total transaction of $1,322,800.00. Following the completion of the sale, the director owned 32,444 shares of the company’s stock, valued at approximately $2,145,846.16. This represents a 38.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John T. Henderson sold 8,750 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $63.90, for a total transaction of $559,125.00. Following the sale, the director owned 74,578 shares in the company, valued at $4,765,534.20. This represents a 10.50% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 163,760 shares of company stock worth $10,623,787. 2.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. The Goldman Sachs Group set a $95.00 target price on shares of Cytokinetics and gave the stock a “buy” rating in a report on Thursday, December 18th. Citigroup reaffirmed a “market outperform” rating on shares of Cytokinetics in a research report on Monday, December 22nd. Needham & Company LLC lifted their price target on Cytokinetics from $72.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Truist Financial boosted their price target on Cytokinetics from $84.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytokinetics in a research report on Wednesday, January 21st. Seventeen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Cytokinetics currently has an average rating of “Moderate Buy” and an average target price of $87.42.

About Cytokinetics

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.