Cynosure Group LLC Takes $363,000 Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Cynosure Group LLC purchased a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,871 shares of the biopharmaceutical company’s stock, valued at approximately $363,000.

Several other large investors have also recently added to or reduced their stakes in CYTK. Advantage Alpha Capital Partners LP acquired a new stake in shares of Cytokinetics during the 3rd quarter worth $438,000. The Manufacturers Life Insurance Company boosted its position in shares of Cytokinetics by 23.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 214,832 shares of the biopharmaceutical company’s stock worth $11,343,000 after acquiring an additional 41,057 shares in the last quarter. Fisher Asset Management LLC boosted its position 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 in the last quarter. Westfield Capital Management Co. LP increased its stake in Cytokinetics by 38.9% in the third 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 last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Cytokinetics by 42.7% during the third 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 in the last quarter.

Cytokinetics Stock Up 0.4 %

Shares of NASDAQ:CYTK opened at $52.22 on Friday. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The business’s 50 day moving average is $53.31 and its 200 day moving average is $54.48. Cytokinetics, Incorporated has a 12-month low of $30.68 and a 12-month high of $110.25. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of -9.71 and a beta of 0.78.

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

Insider Activity

In related news, EVP Fady Ibraham Malik sold 7,300 shares of the business’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 sale, the executive vice president now directly owns 111,878 shares in the company, valued at approximately $5,611,800.48. The trade was a 6.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was 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 of the company’s stock, 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 in the last 90 days. Insiders own 3.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CYTK shares. Mizuho raised their target price on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Royal Bank of Canada assumed coverage on Cytokinetics in a research report on Friday, November 8th. They issued an “outperform” rating and a $80.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a report on Monday, November 18th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. Finally, The Goldman Sachs Group downgraded shares of Cytokinetics from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $85.00 to $60.00 in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $83.93.

Cytokinetics Profile

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.