Lisanti Capital Growth LLC Acquires New Position in Cytokinetics, Incorporated $CYTK

Lisanti Capital Growth LLC acquired a new stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 49,070 shares of the biopharmaceutical company’s stock, valued at approximately $2,697,000.

Several other hedge funds also recently made changes to their positions in the company. Sanders Morris Harris LLC acquired a new stake in Cytokinetics during the third quarter worth about $1,182,000. Moody Aldrich Partners LLC acquired a new position in Cytokinetics in the third quarter valued at approximately $4,532,000. Norges Bank bought a new position in shares of Cytokinetics during the second quarter valued at approximately $39,122,000. Aberdeen Group plc grew its holdings in shares of Cytokinetics by 53.2% during the second quarter. Aberdeen Group plc now owns 922,929 shares of the biopharmaceutical company’s stock valued at $30,494,000 after purchasing an additional 320,508 shares during the last quarter. Finally, Zweig DiMenna Associates LLC acquired a new stake in shares of Cytokinetics during the 2nd quarter worth approximately $1,176,000.

Analyst Ratings Changes

A number of research firms recently issued reports on CYTK. The Goldman Sachs Group set a $95.00 price objective on Cytokinetics and gave the company a “buy” rating in a research report on Thursday, December 18th. UBS Group reiterated a “neutral” rating and issued a $61.00 target price on shares of Cytokinetics in a research note on Monday, December 1st. JPMorgan Chase & Co. upped their price target on shares of Cytokinetics from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. HC Wainwright increased their price objective on shares of Cytokinetics from $120.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Finally, B. Riley boosted their target price on shares of Cytokinetics from $90.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Sixteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.00.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, Director Edward M. Md Kaye sold 28,064 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $66.72, for a total transaction of $1,872,430.08. Following the completion of the transaction, the director directly owned 9,977 shares of the company’s stock, valued at approximately $665,665.44. This trade represents a 73.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew Callos sold 52,486 shares of the business’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $65.95, for a total value of $3,461,451.70. Following the completion of the sale, the executive vice president directly owned 50,660 shares in the company, valued at $3,341,027. This represents a 50.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 150,169 shares of company stock valued at $9,776,484. 2.70% of the stock is currently owned by company insiders.

Cytokinetics Stock Down 3.7%

Shares of NASDAQ CYTK opened at $63.19 on Friday. The stock has a market cap of $7.73 billion, a P/E ratio of -10.05 and a beta of 0.55. The firm’s 50-day simple moving average is $63.82 and its 200 day simple moving average is $54.62. Cytokinetics, Incorporated has a fifty-two week low of $29.31 and a fifty-two week high of $70.98.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) EPS for the quarter, beating the consensus estimate of ($1.59) by $0.05. The company had revenue of $1.94 million for the quarter, compared to analyst estimates of $6.05 million. During the same period in the previous year, the business posted ($1.36) EPS. The firm’s quarterly revenue was up 318.1% on a year-over-year basis. On average, sell-side analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Cytokinetics Company Profile

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.