Xponance Inc. Has $777,000 Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Xponance Inc. boosted its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 5.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,528 shares of the biopharmaceutical company’s stock after acquiring an additional 853 shares during the quarter. Xponance Inc.’s holdings in Cytokinetics were worth $777,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Harvey Capital Management Inc. acquired a new stake in shares of Cytokinetics in the fourth quarter valued at about $1,040,000. Westfield Capital Management Co. LP boosted its stake in Cytokinetics by 38.9% during 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 purchasing an additional 339,373 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Cytokinetics by 42.7% in 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 buying an additional 395,709 shares during the last quarter. abrdn plc increased its position in Cytokinetics by 29.4% in the 4th quarter. abrdn plc now owns 450,513 shares of the biopharmaceutical company’s stock worth $21,192,000 after buying an additional 102,457 shares during the period. Finally, AlphaQuest LLC lifted its holdings in shares of Cytokinetics by 113,500.0% during the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 1,135 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CYTK. Morgan Stanley set a $67.00 target price on shares of Cytokinetics in a research report on Friday, March 7th. Evercore ISI upgraded shares of Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. JMP Securities reiterated a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research note on Friday, February 7th. Citigroup started coverage on Cytokinetics in a research note on Friday, February 7th. They set a “buy” rating and a $86.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a research report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $82.00.

Insiders Place Their Bets

In related news, EVP Fady Ibraham Malik sold 2,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $45.92, for a total transaction of $91,840.00. Following the transaction, the executive vice president now owns 116,071 shares in the company, valued at $5,329,980.32. This represents a 1.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew Callos sold 2,775 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $44.38, for a total transaction of $123,154.50. Following the completion of the transaction, the executive vice president now directly owns 34,888 shares of the company’s stock, valued at approximately $1,548,329.44. This represents a 7.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,834 shares of company stock valued at $1,949,275. 3.40% of the stock is currently owned by corporate insiders.

Cytokinetics Trading Up 2.5 %

Shares of Cytokinetics stock opened at $46.57 on Tuesday. The stock has a market capitalization of $5.51 billion, a P/E ratio of -8.66 and a beta of 0.95. Cytokinetics, Incorporated has a 12-month low of $40.53 and a 12-month high of $75.71. 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 company has a 50-day simple moving average of $45.96 and a 200 day simple moving average of $49.82.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.03. The firm had revenue of $16.93 million during the quarter, compared to the consensus estimate of $14.26 million. Research analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

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.