Cytokinetics, Incorporated (NASDAQ:CYTK) is Sarissa Capital Management LP's 4th Largest Position

Sarissa Capital Management LP lowered its position in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 24.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 833,799 shares of the biopharmaceutical company's stock after selling 276,201 shares during the period. Cytokinetics comprises about 12.1% of Sarissa Capital Management LP's portfolio, making the stock its 4th largest position. Sarissa Capital Management LP owned about 0.71% of Cytokinetics worth $39,222,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its holdings in shares of Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 374 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Cytokinetics in the 4th quarter worth $29,000. AlphaQuest LLC lifted its stake in Cytokinetics by 113,500.0% in 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 lifted its stake in Cytokinetics by 62.1% in the fourth quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company's stock worth $83,000 after purchasing an additional 671 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in Cytokinetics by 85.8% during 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 period.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CYTK shares. HC Wainwright restated a "buy" rating and set a $120.00 target price on shares of Cytokinetics in a report on Monday, April 21st. Bank of America dropped their price target on shares of Cytokinetics from $62.00 to $54.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Cantor Fitzgerald upgraded shares of Cytokinetics to a "strong-buy" rating in a research report on Tuesday, May 13th. Barclays dropped their target price on shares of Cytokinetics from $55.00 to $53.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Finally, Needham & Company LLC restated a "buy" rating and set a $72.00 price target on shares of Cytokinetics in a report on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cytokinetics has a consensus rating of "Moderate Buy" and a consensus target price of $74.44.

Insider Activity at Cytokinetics

In other Cytokinetics news, Director Wendall Wierenga sold 20,000 shares of the company's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $38.46, for a total transaction of $769,200.00. Following the sale, the director now owns 24,848 shares in the company, valued at $955,654.08. This represents a 44.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrew Callos sold 3,341 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $43.27, for a total value of $144,565.07. Following the transaction, the executive vice president now directly owns 64,434 shares of the company's stock, valued at approximately $2,788,059.18. This represents a 4.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,816 shares of company stock worth $3,850,385. 2.70% of the stock is currently owned by company insiders.

Cytokinetics Price Performance

Shares of Cytokinetics stock traded down $0.09 on Thursday, reaching $31.22. The company's stock had a trading volume of 378,324 shares, compared to its average volume of 1,688,193. 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 market capitalization of $3.73 billion, a P/E ratio of -5.80 and a beta of 0.81. The stock has a 50-day moving average price of $38.12 and a 200-day moving average price of $44.86. Cytokinetics, Incorporated has a 52-week low of $29.31 and a 52-week high of $61.38.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly 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 during the quarter, compared to analysts' expectations of $2.77 million. The business's quarterly revenue was up 89.1% on a year-over-year basis. During the same period in the prior year, the business posted ($1.33) earnings per share. Analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

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.