XTX Topco Ltd Sells 2,293 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

XTX Topco Ltd lessened its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 23.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,357 shares of the biopharmaceutical company’s stock after selling 2,293 shares during the quarter. XTX Topco Ltd’s holdings in Cytokinetics were worth $296,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in Cytokinetics in the 4th quarter valued at approximately $254,000. GAMMA Investing LLC grew its stake in Cytokinetics by 281.0% in the 1st quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 826 shares in the last quarter. Two Sigma Advisers LP grew its stake in Cytokinetics by 5.4% in the 4th quarter. Two Sigma Advisers LP now owns 226,400 shares of the biopharmaceutical company’s stock valued at $10,650,000 after buying an additional 11,700 shares in the last quarter. RFG Advisory LLC purchased a new position in Cytokinetics in the 1st quarter valued at approximately $1,286,000. Finally, Mirador Capital Partners LP grew its stake in Cytokinetics by 51.0% in the 1st quarter. Mirador Capital Partners LP now owns 99,125 shares of the biopharmaceutical company’s stock valued at $3,984,000 after buying an additional 33,489 shares in the last quarter.

Cytokinetics Stock Performance

Shares of NASDAQ:CYTK opened at $34.11 on Monday. Cytokinetics, Incorporated has a 52-week low of $29.31 and a 52-week high of $59.39. The firm has a fifty day moving average of $34.88 and a 200 day moving average of $38.64. The firm has a market capitalization of $4.08 billion, a PE ratio of -6.69 and a beta of 0.64.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.34) by $0.22. The company had revenue of $66.77 million during the quarter, compared to analysts’ expectations of $1.95 million. During the same quarter last year, the firm posted ($1.31) earnings per share. The firm’s revenue was up 26727.3% on a year-over-year basis. On average, sell-side analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Muna Bhanji sold 1,454 shares of the company’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $29.73, for a total value of $43,227.42. Following the completion of the transaction, the director directly owned 23,510 shares in the company, valued at approximately $698,952.30. The trade was a 5.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Fady Ibraham Malik sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $36.34, for a total transaction of $72,680.00. Following the completion of the transaction, the executive vice president owned 140,610 shares of the company’s stock, valued at $5,109,767.40. This trade represents a 1.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,749 shares of company stock valued at $1,350,617 in the last three months. 3.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CYTK shares. UBS Group reduced their price objective on shares of Cytokinetics from $47.00 to $41.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Barclays reduced their price objective on shares of Cytokinetics from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Citigroup reduced their price objective on shares of Cytokinetics from $80.00 to $77.00 and set a “buy” rating for the company in a research note on Friday. Mizuho reduced their price target on shares of Cytokinetics from $103.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, May 29th. Finally, Cantor Fitzgerald upgraded shares of Cytokinetics to a “strong-buy” rating in a research report on Tuesday, May 13th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.69.

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.