Y Intercept Hong Kong Ltd Takes $1.36 Million Position in Cytokinetics, Incorporated $CYTK

Y Intercept Hong Kong Ltd purchased a new position in Cytokinetics, Incorporated (NASDAQ:CYTK) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,732 shares of the biopharmaceutical company’s stock, valued at approximately $1,359,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CYTK. EverSource Wealth Advisors LLC increased its stake in Cytokinetics by 723.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 673 shares during the period. Hantz Financial Services Inc. increased its stake in shares of Cytokinetics by 2,872.7% in the second quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company’s stock worth $43,000 after acquiring an additional 1,264 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Cytokinetics by 68.4% during the third quarter. Farther Finance Advisors LLC now owns 1,115 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 453 shares in the last quarter. Root Financial Partners LLC acquired a new stake in Cytokinetics during the third quarter valued at $80,000. Finally, GAMMA Investing LLC boosted its position in Cytokinetics by 109.4% during the third quarter. GAMMA Investing LLC now owns 1,472 shares of the biopharmaceutical company’s stock valued at $81,000 after purchasing an additional 769 shares during the last quarter.

Insider Activity at Cytokinetics

In related news, Director Robert Arthur Harrington sold 2,150 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $66.80, for a total transaction of $143,620.00. Following the completion of the transaction, the director owned 18,542 shares of the company’s stock, valued at approximately $1,238,605.60. The trade was a 10.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wendell Wierenga sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $66.14, for a total value of $1,322,800.00. Following the completion of the sale, the director directly owned 32,444 shares in the company, valued at $2,145,846.16. This trade represents a 38.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 150,169 shares of company stock valued at $9,776,484. 2.70% of the stock is owned by corporate insiders.

Cytokinetics Stock Down 3.7%

Shares of CYTK stock opened at $63.19 on Friday. Cytokinetics, Incorporated has a 12 month low of $29.31 and a 12 month high of $70.98. The company has a market cap of $7.73 billion, a PE ratio of -10.05 and a beta of 0.55. The business’s 50 day moving average is $63.82 and its two-hundred day moving average is $54.62.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.59) by $0.05. The firm had revenue of $1.94 million for the quarter, compared to the consensus estimate of $6.05 million. During the same period in the prior year, the company posted ($1.36) earnings per share. Cytokinetics’s quarterly revenue was up 318.1% on a year-over-year basis. As a group, equities analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 target price on shares of Cytokinetics in a research report on Friday, January 9th. UBS Group reissued a “neutral” rating and issued a $61.00 price target on shares of Cytokinetics in a research note on Monday, December 1st. JPMorgan Chase & Co. raised their price objective on shares of Cytokinetics from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Morgan Stanley set a $90.00 target price on shares of Cytokinetics in a research note on Thursday, January 8th. Finally, B. Riley boosted their target price on shares of Cytokinetics from $90.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Sixteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.00.

About Cytokinetics

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.