Quarry LP Acquires 1,400 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Quarry LP raised its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 233.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,000 shares of the biopharmaceutical company’s stock after acquiring an additional 1,400 shares during the period. Quarry LP’s holdings in Cytokinetics were worth $108,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Darwin Global Management Ltd. acquired a new stake in shares of Cytokinetics in the 2nd quarter valued at approximately $246,074,000. Westfield Capital Management Co. LP bought a new position in Cytokinetics in the 1st quarter valued at approximately $51,277,000. Integral Health Asset Management LLC lifted its stake in Cytokinetics by 122.2% in the 2nd quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $54,180,000 after purchasing an additional 550,000 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in Cytokinetics in the fourth quarter valued at approximately $44,754,000. Finally, Sarissa Capital Management LP bought a new stake in shares of Cytokinetics during the first quarter worth $21,033,000.

Insider Activity at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 11,500 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $54.29, for a total transaction of $624,335.00. Following the transaction, the chief executive officer now owns 399,412 shares in the company, valued at $21,684,077.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Cytokinetics news, CEO Robert I. Blum sold 11,500 shares of Cytokinetics stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $54.29, for a total transaction of $624,335.00. Following the completion of the transaction, the chief executive officer now owns 399,412 shares in the company, valued at approximately $21,684,077.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $55.90, for a total value of $408,070.00. Following the completion of the sale, the executive vice president now directly owns 131,004 shares of the company’s stock, valued at $7,323,123.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,337 shares of company stock valued at $5,374,582. 3.40% of the stock is owned by company insiders.

Cytokinetics Price Performance

Shares of NASDAQ CYTK opened at $52.60 on Wednesday. The firm has a market capitalization of $5.52 billion, a P/E ratio of -9.74 and a beta of 0.77. The firm’s 50-day moving average price is $55.61 and its 200-day moving average price is $58.58. The company has a current ratio of 10.39, a quick ratio of 10.39 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 1-year low of $25.98 and a 1-year 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 for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.25). The company had revenue of $0.25 million during the quarter, compared to analyst estimates of $7.61 million. The business’s revenue for the quarter was down 71.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.34) earnings per share. Equities research analysts anticipate that Cytokinetics, Incorporated will post -5.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on CYTK shares. The Goldman Sachs Group cut Cytokinetics from a “buy” rating to a “neutral” rating and dropped their price target for the company from $85.00 to $60.00 in a research note on Tuesday, August 13th. JMP Securities reiterated a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research report on Wednesday, September 4th. JPMorgan Chase & Co. boosted their price target on Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a report on Monday, September 9th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.67.

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.