Virtu Financial LLC Invests $303,000 in Cytokinetics, Incorporated (NASDAQ:CYTK)

Virtu Financial LLC bought a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) in the 4th quarter, Holdings Channel reports. The fund bought 6,433 shares of the biopharmaceutical company’s stock, valued at approximately $303,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of 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 acquiring an additional 395,709 shares in the last quarter. Checkpoint Capital L.P. grew its stake in Cytokinetics by 145.7% during the 3rd quarter. Checkpoint Capital L.P. now owns 466,813 shares of the biopharmaceutical company’s stock valued at $24,648,000 after purchasing an additional 276,813 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in Cytokinetics during the 3rd quarter worth approximately $11,336,000. Janus Henderson Group PLC boosted its stake in shares of Cytokinetics by 17.2% during the 3rd quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock valued at $60,399,000 after buying an additional 167,501 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Cytokinetics by 4.0% during the third quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock worth $150,433,000 after buying an additional 109,938 shares in the last quarter.

Cytokinetics Price Performance

NASDAQ CYTK opened at $42.99 on Friday. The company has a 50-day moving average price of $45.80 and a two-hundred day moving average price of $49.67. Cytokinetics, Incorporated has a 52 week low of $40.53 and a 52 week high of $75.71. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of -7.99 and a beta of 0.95. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.03. The business had revenue of $16.93 million during the quarter, compared to the consensus estimate of $14.26 million. Analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on CYTK. Citigroup began coverage on shares of Cytokinetics in a report on Friday, February 7th. They issued a “buy” rating and a $86.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research report on Thursday, February 6th. Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. Morgan Stanley set a $67.00 price objective on Cytokinetics in a research note on Friday, March 7th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $82.00.

Insider Transactions at Cytokinetics

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

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.