Lisanti Capital Growth LLC Makes New Investment in Cytokinetics, Incorporated $CYTK

Lisanti Capital Growth LLC purchased a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 49,070 shares of the biopharmaceutical company’s stock, valued at approximately $2,697,000.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Cytokinetics by 723.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 673 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in Cytokinetics by 2,872.7% during the second quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 1,264 shares in the last quarter. Farther Finance Advisors LLC grew its position in Cytokinetics by 68.4% in the third quarter. Farther Finance Advisors LLC now owns 1,115 shares of the biopharmaceutical company’s stock worth $61,000 after buying an additional 453 shares during the last quarter. Root Financial Partners LLC bought a new position in shares of Cytokinetics in the third quarter valued at $80,000. Finally, GAMMA Investing LLC increased its holdings in shares of Cytokinetics by 109.4% in the third quarter. GAMMA Investing LLC now owns 1,472 shares of the biopharmaceutical company’s stock valued at $81,000 after buying an additional 769 shares in the last quarter.

Insider Transactions at Cytokinetics

In other Cytokinetics news, Director John T. Henderson sold 8,750 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $63.90, for a total value of $559,125.00. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director B Lynne Parshall sold 5,000 shares of Cytokinetics stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $64.73, for a total transaction of $323,650.00. Following the sale, the director directly owned 22,933 shares of the company’s stock, valued at $1,484,453.09. This trade represents a 17.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 150,169 shares of company stock worth $9,776,484. 2.70% of the stock is owned by company insiders.

Cytokinetics Trading Down 3.7%

Shares of Cytokinetics stock opened at $63.19 on Friday. Cytokinetics, Incorporated has a 1 year low of $29.31 and a 1 year high of $70.98. The company has a market cap of $7.73 billion, a P/E ratio of -10.05 and a beta of 0.55. The stock has a 50-day moving average price of $63.82 and a 200 day moving average price of $54.62.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Citizens Jmp raised their price objective on Cytokinetics from $78.00 to $88.00 and gave the stock a “market outperform” rating in a research note on Monday, December 22nd. Barclays assumed coverage on Cytokinetics in a report on Wednesday. They set an “overweight” rating and a $87.00 target price for the company. The Goldman Sachs Group set a $95.00 price target on Cytokinetics and gave the stock a “buy” rating in a research note on Thursday, December 18th. Needham & Company LLC upped their price objective on shares of Cytokinetics from $72.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Cytokinetics from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Sixteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

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.