Intech Investment Management LLC Purchases 16,988 Shares of Cytokinetics, Incorporated $CYTK

Intech Investment Management LLC raised its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 33.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,261 shares of the biopharmaceutical company’s stock after purchasing an additional 16,988 shares during the period. Intech Investment Management LLC owned approximately 0.06% of Cytokinetics worth $2,703,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Cytokinetics by 281.0% during the first quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 826 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Cytokinetics by 21.8% during the first quarter. HighTower Advisors LLC now owns 11,352 shares of the biopharmaceutical company’s stock worth $456,000 after acquiring an additional 2,029 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Cytokinetics by 29.7% during the first quarter. Cetera Investment Advisers now owns 5,904 shares of the biopharmaceutical company’s stock worth $237,000 after acquiring an additional 1,353 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of Cytokinetics by 5.4% during the fourth quarter. Two Sigma Advisers LP now owns 226,400 shares of the biopharmaceutical company’s stock worth $10,650,000 after acquiring an additional 11,700 shares in the last quarter. Finally, RFG Advisory LLC bought a new stake in shares of Cytokinetics during the first quarter worth $1,286,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating on shares of Cytokinetics in a research report on Tuesday, September 2nd. Mizuho cut their price target on shares of Cytokinetics from $103.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, May 29th. Raymond James Financial initiated coverage on shares of Cytokinetics in a research note on Wednesday, July 30th. They set a “market perform” rating for the company. JPMorgan Chase & Co. reduced their price objective on shares of Cytokinetics from $71.00 to $53.00 and set an “overweight” rating for the company in a research note on Monday, June 9th. Finally, Barclays increased their price objective on shares of Cytokinetics from $53.00 to $71.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.38.

Cytokinetics Stock Performance

Shares of NASDAQ:CYTK opened at $51.13 on Monday. Cytokinetics, Incorporated has a 52-week low of $29.31 and a 52-week high of $59.39. The company has a market capitalization of $6.12 billion, a P/E ratio of -10.03 and a beta of 0.62. The company has a 50-day simple moving average of $39.45 and a 200 day simple moving average of $37.79.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.34) by $0.22. The firm had revenue of $66.77 million for the quarter, compared to the consensus estimate of $1.95 million. During the same quarter in the prior year, the firm earned ($1.31) EPS. The company’s revenue was up 26727.3% on a year-over-year basis. As a group, equities analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Insider Transactions at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $51.29, for a total transaction of $102,580.00. Following the transaction, the executive vice president directly owned 140,610 shares of the company’s stock, valued at approximately $7,211,886.90. This trade represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $36.45, for a total transaction of $182,250.00. Following the transaction, the chief executive officer directly owned 388,108 shares in the company, valued at $14,146,536.60. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,756 shares of company stock worth $1,105,140 over the last quarter. Company insiders own 3.40% of the company’s stock.

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.