Brevan Howard Capital Management LP Buys Shares of 8,976 Cytokinetics, Incorporated (NASDAQ:CYTK)

Brevan Howard Capital Management LP acquired a new position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,976 shares of the biopharmaceutical company's stock, valued at approximately $422,000.

Other hedge funds also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its holdings in shares of Cytokinetics by 189.8% in the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 374 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in Cytokinetics in the fourth quarter worth $29,000. AlphaQuest LLC grew 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 purchasing an additional 1,135 shares during the last quarter. J.Safra Asset Management Corp increased its stake in shares of Cytokinetics by 62.1% in the fourth quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company's stock valued at $83,000 after buying an additional 671 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Cytokinetics by 85.8% in the fourth quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company's stock valued at $86,000 after buying an additional 842 shares during the last quarter.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, EVP Andrew Callos sold 3,341 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $43.27, for a total value of $144,565.07. Following the completion of the sale, the executive vice president now owns 64,434 shares in the company, valued at $2,788,059.18. This trade represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Wendall Wierenga sold 20,000 shares of Cytokinetics stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $38.46, for a total value of $769,200.00. Following the transaction, the director now owns 24,848 shares of the company's stock, valued at $955,654.08. This represents a 44.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,362 shares of company stock valued at $3,899,118 in the last 90 days. 2.70% of the stock is currently owned by company insiders.

Cytokinetics Trading Down 4.7%

NASDAQ:CYTK traded down $1.52 during mid-day trading on Tuesday, hitting $30.61. The company had a trading volume of 3,476,168 shares, compared to its average volume of 1,670,924. The firm has a market cap of $3.66 billion, a P/E ratio of -5.69 and a beta of 0.81. Cytokinetics, Incorporated has a fifty-two week low of $30.48 and a fifty-two week high of $61.40. The business's fifty day moving average is $39.94 and its two-hundred day moving average is $45.78. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, topping the consensus estimate of ($1.41) by $0.05. The business had revenue of $1.60 million for the quarter, compared to the consensus estimate of $2.77 million. During the same quarter in the prior year, the firm posted ($1.33) earnings per share. The business's revenue was up 89.1% on a year-over-year basis. As a group, research analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on CYTK. UBS Group decreased their price objective on shares of Cytokinetics from $47.00 to $41.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Barclays decreased their price target on shares of Cytokinetics from $55.00 to $53.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Stifel Nicolaus started coverage on shares of Cytokinetics in a research report on Wednesday, January 22nd. They issued a "buy" rating and a $80.00 price objective for the company. Evercore ISI raised Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. Finally, Morgan Stanley set a $67.00 target price on Cytokinetics in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $74.44.

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.