R Squared Ltd Makes New Investment in Cytokinetics, Incorporated (NASDAQ:CYTK)

R Squared Ltd acquired a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) in the 4th quarter, Holdings Channel reports. The firm acquired 2,830 shares of the biopharmaceutical company’s stock, valued at approximately $133,000.

Several other hedge funds also recently modified their holdings of the stock. Pacer Advisors Inc. grew its holdings in Cytokinetics by 2.9% in the fourth quarter. Pacer Advisors Inc. now owns 24,843 shares of the biopharmaceutical company’s stock worth $1,169,000 after purchasing an additional 690 shares during the period. Blue Trust Inc. boosted its position in shares of Cytokinetics by 85.8% during the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company’s stock worth $86,000 after purchasing an additional 842 shares in the last quarter. Inspire Investing LLC grew its stake in shares of Cytokinetics by 7.8% in the 4th quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock valued at $400,000 after buying an additional 616 shares during the period. Mirador Capital Partners LP increased its position in Cytokinetics by 1.6% in the 4th quarter. Mirador Capital Partners LP now owns 65,636 shares of the biopharmaceutical company’s stock valued at $3,088,000 after buying an additional 1,010 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in Cytokinetics by 6.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 45,130 shares of the biopharmaceutical company’s stock valued at $2,123,000 after buying an additional 2,604 shares in the last quarter.

Insider Buying and Selling

In related news, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $50.16, for a total value of $366,168.00. Following the transaction, the executive vice president now owns 111,878 shares in the company, valued at approximately $5,611,800.48. This represents a 6.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $51.63, for a total value of $258,150.00. Following the transaction, the chief executive officer now directly owns 397,456 shares of the company’s stock, valued at approximately $20,520,653.28. This trade represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,464 shares of company stock valued at $2,187,716. 3.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on CYTK shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. Mizuho lifted their price target on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. HC Wainwright restated a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a report on Tuesday, January 21st. Royal Bank of Canada lifted their price objective on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Finally, Stifel Nicolaus initiated coverage on shares of Cytokinetics in a report on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 target price on the stock. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Cytokinetics presently has a consensus rating of “Moderate Buy” and an average price target of $82.79.

Cytokinetics Price Performance

Shares of NASDAQ CYTK opened at $48.65 on Thursday. The company has a market capitalization of $5.74 billion, a PE ratio of -9.04 and a beta of 0.82. 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 stock’s 50 day moving average price is $48.70 and its 200-day moving average price is $52.80. Cytokinetics, Incorporated has a twelve month low of $44.49 and a twelve month high of $84.05.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The business had revenue of $0.46 million during the quarter, compared to analyst estimates of $1.21 million. During the same quarter in the prior year, the company posted ($1.35) earnings per share. The company’s revenue was up 22.5% on a year-over-year basis. On average, equities analysts anticipate that Cytokinetics, Incorporated will post -5.23 EPS for the current year.

Cytokinetics Company 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.