Carlson Capital L.P. Sells 15,800 Shares of Cytokinetics, Incorporated $CYTK

Carlson Capital L.P. decreased its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 77.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,700 shares of the biopharmaceutical company’s stock after selling 15,800 shares during the quarter. Carlson Capital L.P.’s holdings in Cytokinetics were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in Cytokinetics during the 2nd quarter worth approximately $39,122,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. raised its holdings in Cytokinetics by 571.2% in the second quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 1,082,563 shares of the biopharmaceutical company’s stock worth $35,768,000 after purchasing an additional 921,278 shares during the period. Frazier Life Sciences Management L.P. bought a new position in shares of Cytokinetics during the second quarter worth $18,328,000. Rosalind Advisors Inc. acquired a new position in shares of Cytokinetics in the 2nd quarter valued at $13,216,000. Finally, Vestal Point Capital LP increased its position in shares of Cytokinetics by 14.8% in the 2nd quarter. Vestal Point Capital LP now owns 2,975,000 shares of the biopharmaceutical company’s stock valued at $98,294,000 after buying an additional 384,469 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on Cytokinetics from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Wall Street Zen lowered Cytokinetics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Needham & Company LLC increased their target price on Cytokinetics from $72.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research note on Tuesday, October 21st. Finally, Barclays assumed coverage on shares of Cytokinetics in a research report on Wednesday, January 28th. They set an “overweight” rating and a $87.00 price objective for the company. Seventeen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Cytokinetics currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.42.

Insider Buying and Selling

In other Cytokinetics news, EVP Andrew Callos sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $61.93, for a total value of $928,950.00. Following the completion of the transaction, the executive vice president directly owned 50,440 shares in the company, valued at $3,123,749.20. This trade represents a 22.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Wendell Wierenga sold 20,000 shares of the business’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 transaction, 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 quarter, insiders have sold 163,760 shares of company stock worth $10,623,787. Corporate insiders own 2.70% of the company’s stock.

Cytokinetics Stock Up 3.5%

Shares of CYTK opened at $62.34 on Friday. Cytokinetics, Incorporated has a twelve month low of $29.31 and a twelve month high of $70.98. The stock has a market capitalization of $7.62 billion, a P/E ratio of -9.91 and a beta of 0.54. The company has a 50 day moving average of $63.35 and a 200-day moving average of $55.50.

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

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.