Harbor Capital Advisors Inc. Acquires 2,604 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Harbor Capital Advisors Inc. boosted its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,130 shares of the biopharmaceutical company’s stock after purchasing an additional 2,604 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Cytokinetics were worth $2,123,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Darwin Global Management Ltd. purchased a new stake in Cytokinetics in the 2nd quarter worth $246,074,000. Integral Health Asset Management LLC increased its holdings in shares of 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 worth $54,180,000 after purchasing an additional 550,000 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Cytokinetics by 42.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock worth $69,769,000 after buying an additional 395,709 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in Cytokinetics by 38.9% during the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock valued at $64,040,000 after buying an additional 339,373 shares during the last quarter. Finally, Checkpoint Capital L.P. grew its holdings in Cytokinetics by 145.7% during the 3rd quarter. Checkpoint Capital L.P. now owns 466,813 shares of the biopharmaceutical company’s stock valued at $24,648,000 after buying an additional 276,813 shares in the last quarter.

Cytokinetics Stock Down 1.6 %

Shares of CYTK opened at $46.62 on Friday. The firm has a market capitalization of $5.50 billion, a P/E ratio of -8.67 and a beta of 0.82. Cytokinetics, Incorporated has a 12-month low of $45.17 and a 12-month high of $100.49. The firm has a fifty day moving average price of $50.42 and a 200-day moving average price of $53.48. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK) last released 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 business had revenue of $0.46 million for the quarter, compared to the consensus estimate of $1.21 million. During the same period last year, the business posted ($1.35) earnings per share. Cytokinetics’s revenue for the quarter was up 22.5% compared to the same quarter last year. Equities research analysts expect that Cytokinetics, Incorporated will post -5.25 earnings per share for the current year.

Wall Street Analyst Weigh In

CYTK has been the topic of several recent research reports. Mizuho upped their price objective on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Royal Bank of Canada upped their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. HC Wainwright reissued a “buy” rating on shares of Cytokinetics in a research note on Friday. Needham & Company LLC restated a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research report on Monday, December 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.64.

Insiders Place Their Bets

In other news, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $54.19, for a total transaction of $395,587.00. Following the transaction, the executive vice president now owns 116,920 shares of the company’s stock, valued at approximately $6,335,894.80. This represents a 5.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wendall Wierenga sold 742 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $48.61, for a total value of $36,068.62. Following the transaction, the director now owns 24,559 shares in the company, valued at approximately $1,193,812.99. This represents a 2.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,516 shares of company stock worth $3,103,023 in the last ninety days. 3.40% of the stock is owned by company 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.