Pathstone Holdings LLC Increases Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

Pathstone Holdings LLC lifted its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 17.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,560 shares of the biopharmaceutical company’s stock after acquiring an additional 5,027 shares during the period. Pathstone Holdings LLC’s holdings in Cytokinetics were worth $1,825,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Darwin Global Management Ltd. acquired a new stake in Cytokinetics during the 2nd quarter worth approximately $246,074,000. Integral Health Asset Management LLC grew its position in Cytokinetics by 122.2% in the second quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $54,180,000 after acquiring an additional 550,000 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Cytokinetics in the second quarter valued at approximately $14,957,000. Great Point Partners LLC grew its position in Cytokinetics by 134.5% in the second quarter. Great Point Partners LLC now owns 474,202 shares of the biopharmaceutical company’s stock valued at $25,692,000 after acquiring an additional 272,000 shares in the last quarter. Finally, Ghisallo Capital Management LLC acquired a new stake in Cytokinetics in the second quarter valued at approximately $10,619,000.

Analyst Upgrades and Downgrades

CYTK has been the subject of several recent research reports. Mizuho increased their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. increased their price objective on shares of Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a research report on Monday, November 18th. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research report on Wednesday, September 4th. Finally, Royal Bank of Canada initiated coverage on shares of Cytokinetics in a research report on Friday, November 8th. They issued an “outperform” rating and a $80.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Cytokinetics Stock Performance

Shares of CYTK opened at $52.22 on Thursday. The business’s fifty day moving average price is $53.39 and its 200 day moving average price is $54.50. Cytokinetics, Incorporated has a 12-month low of $30.68 and a 12-month high of $110.25. The stock has a market capitalization of $6.16 billion, a PE ratio of -9.67 and a beta of 0.78. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The company had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $1.21 million. During the same quarter in the previous year, the business earned ($1.35) EPS. Cytokinetics’s revenue was up 22.5% compared to the same quarter last year. Equities research analysts forecast that Cytokinetics, Incorporated will post -5.25 EPS for the current year.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 7,300 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $50.16, for a total value of $366,168.00. Following the sale, the executive vice president now directly owns 111,878 shares in the company, valued at approximately $5,611,800.48. This trade represents a 6.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $50.55, for a total value of $252,750.00. Following the completion of the sale, the chief executive officer now owns 397,456 shares in the company, valued at $20,091,400.80. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,378 shares of company stock worth $3,880,287. 3.40% of the stock is owned by insiders.

About Cytokinetics

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.