Lisanti Capital Growth LLC Takes Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Lisanti Capital Growth LLC purchased a new stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 50,480 shares of the biopharmaceutical company’s stock, valued at approximately $4,215,000.

A number of other hedge funds also recently made changes to their positions in CYTK. Vanguard Group Inc. increased its stake in shares of Cytokinetics by 4.6% during the third quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company’s stock valued at $316,498,000 after acquiring an additional 472,595 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Cytokinetics during the fourth quarter valued at approximately $46,308,000. Fisher Asset Management LLC acquired a new position in shares of Cytokinetics during the fourth quarter valued at approximately $44,747,000. Rhumbline Advisers grew its position in Cytokinetics by 1.1% in the third quarter. Rhumbline Advisers now owns 274,869 shares of the biopharmaceutical company’s stock worth $8,098,000 after buying an additional 3,005 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its position in Cytokinetics by 10.0% in the third quarter. Rafferty Asset Management LLC now owns 246,922 shares of the biopharmaceutical company’s stock worth $7,274,000 after buying an additional 22,498 shares during the last quarter.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, Director John T. Henderson sold 10,562 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $64.54, for a total value of $681,671.48. Following the completion of the sale, the director now owns 32,070 shares of the company’s stock, valued at $2,069,797.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Fady Ibraham Malik sold 32,605 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total transaction of $2,585,576.50. Following the completion of the sale, the executive vice president now owns 142,973 shares of the company’s stock, valued at $11,337,758.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John T. Henderson sold 10,562 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $64.54, for a total transaction of $681,671.48. Following the transaction, the director now owns 32,070 shares of the company’s stock, valued at approximately $2,069,797.80. The disclosure for this sale can be found here. Insiders have sold a total of 113,376 shares of company stock worth $8,275,252 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on CYTK. Truist Financial restated a “buy” rating and issued a $86.00 price target on shares of Cytokinetics in a research report on Monday, April 8th. Needham & Company LLC restated a “buy” rating and issued a $108.00 price target on shares of Cytokinetics in a research report on Tuesday, April 9th. Oppenheimer restated an “outperform” rating and issued a $107.00 price target on shares of Cytokinetics in a research report on Monday, March 4th. Mizuho lowered their price objective on shares of Cytokinetics from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, March 6th. Finally, UBS Group cut shares of Cytokinetics from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $61.00 to $92.00 in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $79.33.

Cytokinetics Stock Performance

NASDAQ CYTK traded down $0.22 on Monday, reaching $65.05. The company’s stock had a trading volume of 607,005 shares, compared to its average volume of 2,781,607. The business has a 50-day moving average price of $68.57 and a 200 day moving average price of $61.18. Cytokinetics, Incorporated has a 52 week low of $25.98 and a 52 week high of $110.25.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.35). The business had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $7.62 million. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.45) EPS. As a group, research analysts forecast that Cytokinetics, Incorporated will post -4.5 earnings per share for the current fiscal year.

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.