Cytokinetics, Incorporated $CYTK Shares Acquired by Aquatic Capital Management LLC

Aquatic Capital Management LLC boosted its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 2,371.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 135,869 shares of the biopharmaceutical company’s stock after acquiring an additional 130,372 shares during the period. Aquatic Capital Management LLC owned 0.11% of Cytokinetics worth $7,467,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lisanti Capital Growth LLC purchased a new stake in shares of Cytokinetics during the third quarter worth approximately $2,697,000. Sanders Morris Harris LLC purchased a new position in Cytokinetics in the 3rd quarter valued at $1,182,000. Y Intercept Hong Kong Ltd acquired a new position in Cytokinetics in the 3rd quarter valued at $1,359,000. Moody Aldrich Partners LLC acquired a new position in Cytokinetics in the 3rd quarter valued at $4,532,000. Finally, Norges Bank purchased a new position in Cytokinetics during the 2nd quarter worth $39,122,000.

Insider Activity at Cytokinetics

In other news, EVP Andrew Callos sold 26,000 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $61.87, for a total transaction of $1,608,620.00. Following the sale, the executive vice president owned 50,440 shares of the company’s stock, valued at $3,120,722.80. The trade was a 34.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wendell Wierenga sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was 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 owned 32,444 shares in the company, valued at approximately $2,145,846.16. This represents a 38.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 96,113 shares of company stock valued at $5,994,726. 3.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on CYTK shares. Citigroup restated a “market outperform” rating on shares of Cytokinetics in a research note on Monday, December 22nd. JPMorgan Chase & Co. increased their price target on shares of Cytokinetics from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Jefferies Financial Group restated a “buy” rating and issued a $90.00 price objective on shares of Cytokinetics in a research report on Friday, January 9th. The Goldman Sachs Group set a $95.00 price objective on Cytokinetics and gave the company a “buy” rating in a report on Thursday, December 18th. Finally, Morgan Stanley set a $90.00 target price on Cytokinetics in a research report on Thursday, January 8th. Seventeen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell 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 $89.00.

Cytokinetics Stock Up 0.1%

Shares of CYTK opened at $60.06 on Monday. The company has a 50-day simple moving average of $63.92 and a 200-day simple moving average of $60.57. The company has a market capitalization of $7.40 billion, a PE ratio of -9.20 and a beta of 0.56. Cytokinetics, Incorporated has a 52-week low of $29.31 and a 52-week high of $70.98.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) EPS for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.02). The company had revenue of $17.76 million for the quarter, compared to analysts’ expectations of $8.02 million. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.26) earnings per share. On average, research analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Cytokinetics 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.