Bamco Inc. NY Makes New Investment in Cytokinetics, Incorporated $CYTK

Bamco Inc. NY purchased a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 24,500 shares of the biopharmaceutical company’s stock, valued at approximately $1,347,000.

A number of other institutional investors also recently modified their holdings of CYTK. EverSource Wealth Advisors LLC grew its holdings in shares of Cytokinetics by 723.7% during the second quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 673 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in Cytokinetics in the 3rd quarter valued at approximately $40,000. Aster Capital Management DIFC Ltd bought a new stake in Cytokinetics in the 3rd quarter valued at approximately $45,000. Fifth Third Bancorp boosted its position in Cytokinetics by 32.3% during the 3rd quarter. Fifth Third Bancorp now owns 1,072 shares of the biopharmaceutical company’s stock worth $59,000 after acquiring an additional 262 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Cytokinetics by 68.4% during the 3rd 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 during the last quarter.

Insider Buying and Selling at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 2,907 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $60.72, for a total value of $176,513.04. Following the completion of the sale, the executive vice president directly owned 138,629 shares in the company, valued at approximately $8,417,552.88. This trade represents a 2.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert I. Blum sold 7,931 shares of Cytokinetics stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $60.72, for a total value of $481,570.32. Following the transaction, the chief executive officer owned 391,673 shares of the company’s stock, valued at $23,782,384.56. The trade was a 1.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 95,622 shares of company stock worth $5,964,298 over the last quarter. 3.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CYTK has been the topic of a number of recent research reports. Citigroup reiterated a “market outperform” rating on shares of Cytokinetics in a report on Monday, December 22nd. Bank of America restated a “neutral” rating on shares of Cytokinetics in a report on Wednesday, February 25th. Royal Bank Of Canada raised their target price on shares of Cytokinetics from $95.00 to $101.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. Leerink Partners reiterated an “outperform” rating on shares of Cytokinetics in a research note on Tuesday, March 10th. Finally, B. Riley Financial boosted their price target 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. Seventeen investment 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.00.

Cytokinetics Stock Up 1.3%

NASDAQ:CYTK opened at $60.83 on Tuesday. Cytokinetics, Incorporated has a twelve month low of $29.31 and a twelve month high of $70.98. The firm has a market capitalization of $7.49 billion, a price-to-earnings ratio of -9.32 and a beta of 0.56. The stock’s 50 day moving average price is $63.91 and its two-hundred day moving average price is $60.74.

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