Advantage Alpha Capital Partners LP Invests $438,000 in Cytokinetics, Incorporated (NASDAQ:CYTK)

Advantage Alpha Capital Partners LP bought a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 8,292 shares of the biopharmaceutical company’s stock, valued at approximately $438,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. The Manufacturers Life Insurance Company raised its stake in Cytokinetics by 23.6% in the third quarter. The Manufacturers Life Insurance Company now owns 214,832 shares of the biopharmaceutical company’s stock valued at $11,343,000 after buying an additional 41,057 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Cytokinetics by 1.5% during the 3rd quarter. Fisher Asset Management LLC now owns 542,284 shares of the biopharmaceutical company’s stock worth $28,633,000 after acquiring an additional 7,764 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in Cytokinetics by 38.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock valued at $64,040,000 after acquiring an additional 339,373 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Cytokinetics by 42.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock valued at $69,769,000 after purchasing an additional 395,709 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Cytokinetics by 24.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 344,448 shares of the biopharmaceutical company’s stock valued at $18,187,000 after purchasing an additional 68,381 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Mizuho upped their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. JMP Securities reiterated a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research note on Wednesday, September 4th. Needham & Company LLC restated a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Wednesday, November 20th. JPMorgan Chase & Co. boosted their price objective on Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Finally, HC Wainwright reiterated a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Cytokinetics has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Cytokinetics Stock Performance

CYTK opened at $52.02 on Wednesday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. Cytokinetics, Incorporated has a 52-week low of $30.68 and a 52-week high of $110.25. The firm has a market cap of $6.14 billion, a P/E ratio of -9.67 and a beta of 0.78. The business’s fifty day moving average is $53.47 and its 200-day moving average is $54.57.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The business had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $1.21 million. The firm’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter last year, the firm earned ($1.35) EPS. Sell-side analysts expect that Cytokinetics, Incorporated will post -5.25 EPS for the current fiscal year.

Insider Activity at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $50.16, for a total transaction of $366,168.00. Following the completion of the sale, the executive vice president now directly owns 111,878 shares in the company, valued at $5,611,800.48. This represents a 6.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $57.03, for a total value of $285,150.00. Following the completion of the transaction, the chief executive officer now owns 397,456 shares in the company, valued at approximately $22,666,915.68. This represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,378 shares of company stock valued at $3,880,287 over the last three months. 3.40% of the stock is owned by insiders.

About Cytokinetics

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.