Great Point Partners LLC Has $16.69 Million Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Great Point Partners LLC reduced its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 33.4% in the third quarter, Holdings Channel reports. The institutional investor owned 316,000 shares of the biopharmaceutical company’s stock after selling 158,202 shares during the period. Cytokinetics makes up 4.9% of Great Point Partners LLC’s investment portfolio, making the stock its 6th largest holding. Great Point Partners LLC’s holdings in Cytokinetics were worth $16,685,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CYTK. J.Safra Asset Management Corp boosted its holdings in Cytokinetics by 642.3% during the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 456 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Cytokinetics by 65.6% in the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 238 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Cytokinetics by 225.9% in the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 680 shares in the last quarter. Values First Advisors Inc. purchased a new stake in shares of Cytokinetics during the third quarter valued at approximately $54,000. Finally, Bessemer Group Inc. lifted its holdings in Cytokinetics by 25,100.0% during the first quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock worth $88,000 after acquiring an additional 1,255 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. The Goldman Sachs Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $85.00 to $60.00 in a research note on Tuesday, August 13th. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. JPMorgan Chase & Co. lifted their price objective on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Mizuho raised their price target on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Royal Bank of Canada began coverage on Cytokinetics in a report on Friday, November 8th. They set an “outperform” rating and a $80.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Cytokinetics currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Insiders Place Their Bets

In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 397,456 shares of the company’s stock, valued at $22,666,915.68. The trade was a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Fady Ibraham Malik sold 7,384 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $57.01, for a total transaction of $420,961.84. Following the sale, the executive vice president now owns 122,920 shares of the company’s stock, valued at approximately $7,007,669.20. The trade was a 5.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,378 shares of company stock valued at $3,880,287 over the last quarter. 3.40% of the stock is owned by corporate insiders.

Cytokinetics Stock Performance

NASDAQ:CYTK opened at $52.02 on Wednesday. Cytokinetics, Incorporated has a twelve month low of $30.68 and a twelve month high of $110.25. 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 price is $53.47 and its two-hundred day moving average price is $54.57.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) 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 analyst estimates of $1.21 million. During the same period in the previous year, the company posted ($1.35) earnings per share. Cytokinetics’s quarterly revenue was up 22.5% on a year-over-year basis. As a group, equities research analysts predict that Cytokinetics, Incorporated will post -5.25 earnings per share for the current 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.