Cytokinetics, Incorporated $CYTK Shares Acquired by GW&K Investment Management LLC

GW&K Investment Management LLC lifted its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 161.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 472,363 shares of the biopharmaceutical company’s stock after purchasing an additional 291,693 shares during the quarter. GW&K Investment Management LLC owned about 0.39% of Cytokinetics worth $30,015,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Cytokinetics by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 12,048,131 shares of the biopharmaceutical company’s stock valued at $765,538,000 after buying an additional 191,336 shares in the last quarter. Deep Track Capital LP increased its position in shares of Cytokinetics by 17.8% in the third quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company’s stock worth $236,328,000 after acquiring an additional 650,000 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Cytokinetics by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,056,017 shares of the biopharmaceutical company’s stock valued at $194,214,000 after acquiring an additional 15,815 shares during the period. Vestal Point Capital LP raised its stake in shares of Cytokinetics by 14.8% in 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 acquiring an additional 384,469 shares during the period. Finally, Woodline Partners LP lifted its holdings in shares of Cytokinetics by 676.1% during the 3rd quarter. Woodline Partners LP now owns 1,647,725 shares of the biopharmaceutical company’s stock valued at $90,559,000 after acquiring an additional 1,435,422 shares in the last quarter.

Cytokinetics Stock Performance

Shares of NASDAQ CYTK opened at $67.07 on Thursday. Cytokinetics, Incorporated has a 1 year low of $31.99 and a 1 year high of $80.20. The stock’s 50-day simple moving average is $70.26 and its 200-day simple moving average is $66.01. The firm has a market cap of $8.35 billion, a price-to-earnings ratio of -9.81 and a beta of 0.42.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) EPS for the quarter, meeting analysts’ consensus estimates of ($1.67). The business had revenue of $19.36 million during the quarter, compared to analysts’ expectations of $8.52 million. During the same period in the prior year, the company posted ($1.36) EPS. The company’s revenue for the quarter was up 1112.5% on a year-over-year basis. As a group, research analysts predict that Cytokinetics, Incorporated will post -6.29 EPS for the current year.

Insider Activity

In other news, EVP Andrew Callos sold 15,857 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $65.00, for a total transaction of $1,030,705.00. Following the completion of the sale, the executive vice president owned 58,555 shares of the company’s stock, valued at approximately $3,806,075. This trade represents a 21.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Fady Ibraham Malik sold 12,033 shares of Cytokinetics stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $62.15, for a total transaction of $747,850.95. Following the completion of the sale, the executive vice president owned 153,902 shares of the company’s stock, valued at approximately $9,565,009.30. This trade represents a 7.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 171,989 shares of company stock worth $11,393,064. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CYTK shares. Citizens Jmp increased their price target on Cytokinetics from $88.00 to $96.00 and gave the company a “market outperform” rating in a report on Wednesday, February 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Cytokinetics in a research note on Monday, April 20th. Robert W. Baird set a $84.00 target price on Cytokinetics in a research report on Tuesday, March 10th. JPMorgan Chase & Co. increased their target price on Cytokinetics from $92.00 to $97.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Finally, Citigroup assumed coverage on Cytokinetics in a report on Monday, May 18th. They set a “buy” rating and a $99.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Cytokinetics has a consensus rating of “Moderate Buy” and an average price target of $99.30.

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.