Cytokinetics, Incorporated (NASDAQ:CYTK) Stock Position Raised by Inspire Investing LLC

Inspire Investing LLC lifted its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 7.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,504 shares of the biopharmaceutical company’s stock after purchasing an additional 616 shares during the period. Inspire Investing LLC’s holdings in Cytokinetics were worth $400,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its stake in Cytokinetics by 42.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock worth $69,769,000 after purchasing an additional 395,709 shares in the last quarter. Westfield Capital Management Co. LP increased its position in shares of Cytokinetics by 38.9% in the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock worth $64,040,000 after acquiring an additional 339,373 shares in the last quarter. Checkpoint Capital L.P. lifted its position in shares of Cytokinetics by 145.7% in the 3rd quarter. Checkpoint Capital L.P. now owns 466,813 shares of the biopharmaceutical company’s stock valued at $24,648,000 after acquiring an additional 276,813 shares in the last quarter. Two Sigma Advisers LP acquired a new position in Cytokinetics in the 3rd quarter worth approximately $11,336,000. Finally, Ghisallo Capital Management LLC purchased a new position in Cytokinetics during the 2nd quarter worth approximately $10,619,000.

Cytokinetics Stock Down 1.6 %

Shares of Cytokinetics stock opened at $49.94 on Tuesday. Cytokinetics, Incorporated has a 12-month low of $44.49 and a 12-month high of $84.05. The stock has a market capitalization of $5.89 billion, a P/E ratio of -9.28 and a beta of 0.82. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The stock has a 50 day moving average price of $48.77 and a two-hundred day moving average price of $52.88.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The company had revenue of $0.46 million for 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 for the quarter was up 22.5% on a year-over-year basis. Equities analysts expect that Cytokinetics, Incorporated will post -5.23 earnings per share for the current year.

Insider Activity at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of the 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 directly owns 397,456 shares of the company’s stock, valued at $20,091,400.80. This represents a 1.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Fady Ibraham Malik sold 7,300 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $51.91, for a total transaction of $378,943.00. Following the transaction, the executive vice president now owns 114,920 shares in the company, valued at approximately $5,965,497.20. The trade was a 5.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,764 shares of company stock worth $2,566,659 in the last 90 days. 3.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CYTK has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research report on Monday, December 2nd. HC Wainwright restated a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a research report on Tuesday, January 21st. JMP Securities reissued a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research report on Tuesday, January 14th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. Finally, Mizuho increased their target price on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Cytokinetics presently has a consensus rating of “Moderate Buy” and an average price target of $82.79.

Cytokinetics Profile

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.