Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Purchased by Clearline Capital LP

Clearline Capital LP raised its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 332.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,695 shares of the biopharmaceutical company’s stock after buying an additional 159,660 shares during the quarter. Clearline Capital LP owned approximately 0.20% of Cytokinetics worth $11,253,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Algert Global LLC boosted its holdings in shares of Cytokinetics by 63.5% in the 2nd quarter. Algert Global LLC now owns 71,408 shares of the biopharmaceutical company’s stock valued at $3,869,000 after purchasing an additional 27,738 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its position in shares of Cytokinetics by 86.8% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 125,271 shares of the biopharmaceutical company’s stock worth $6,787,000 after buying an additional 58,195 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Cytokinetics by 13.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 173,775 shares of the biopharmaceutical company’s stock worth $9,415,000 after buying an additional 20,206 shares during the period. Darwin Global Management Ltd. acquired a new position in Cytokinetics in the second quarter valued at $246,074,000. Finally, AQR Capital Management LLC grew its position in Cytokinetics by 10.5% during the second quarter. AQR Capital Management LLC now owns 33,401 shares of the biopharmaceutical company’s stock valued at $1,810,000 after acquiring an additional 3,168 shares during the period.

Cytokinetics Price Performance

CYTK stock opened at $52.34 on Friday. The company has a market capitalization of $5.49 billion, a PE ratio of -9.69 and a beta of 0.77. The company has a quick ratio of 10.39, a current ratio of 10.39 and a debt-to-equity ratio of 5.93. The stock’s 50 day moving average is $55.80 and its two-hundred day moving average is $58.78. Cytokinetics, Incorporated has a 52-week low of $25.98 and a 52-week high of $110.25.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The company had revenue of $0.25 million for the quarter, compared to analysts’ expectations of $7.61 million. During the same quarter in the previous year, the company earned ($1.34) earnings per share. Cytokinetics’s quarterly revenue was down 71.3% compared to the same quarter last year. Analysts predict that Cytokinetics, Incorporated will post -5.15 earnings per share for the current fiscal year.

Insider Activity

In related news, Director B Lynne Parshall sold 5,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $54.22, for a total value of $271,100.00. Following the completion of the sale, the director now directly owns 20,600 shares of the company’s stock, valued at $1,116,932. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Cytokinetics news, CEO Robert I. Blum sold 11,500 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $54.05, for a total transaction of $621,575.00. Following the sale, the chief executive officer now directly owns 405,145 shares of the company’s stock, valued at $21,898,087.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director B Lynne Parshall sold 5,000 shares of Cytokinetics stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $54.22, for a total transaction of $271,100.00. Following the completion of the transaction, the director now directly owns 20,600 shares of the company’s stock, valued at $1,116,932. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,537 shares of company stock worth $5,626,227. 3.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CYTK shares. HC Wainwright reiterated a “buy” rating and set a $90.00 target price on shares of Cytokinetics in a report on Friday, September 20th. B. Riley decreased their price objective on shares of Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, June 4th. JMP Securities reissued a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research report on Wednesday, September 4th. The Goldman Sachs Group lowered shares of Cytokinetics from a “buy” rating to a “neutral” rating and reduced their target price for the company from $85.00 to $60.00 in a report on Tuesday, August 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cytokinetics has a consensus rating of “Moderate Buy” and a consensus target price of $80.67.

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.