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

Sarissa Capital Management LP reduced its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 24.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 833,799 shares of the biopharmaceutical company's stock after selling 276,201 shares during the quarter. Cytokinetics makes up 12.1% of Sarissa Capital Management LP's investment portfolio, making the stock its 4th biggest holding. Sarissa Capital Management LP owned about 0.71% of Cytokinetics worth $39,222,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Cytokinetics during the 4th quarter worth about $87,000. ProShare Advisors LLC lifted its holdings in shares of Cytokinetics by 28.6% in the 4th quarter. ProShare Advisors LLC now owns 43,299 shares of the biopharmaceutical company's stock valued at $2,037,000 after purchasing an additional 9,620 shares during the last quarter. Orbimed Advisors LLC lifted its holdings in shares of Cytokinetics by 106.5% in the 4th quarter. Orbimed Advisors LLC now owns 1,584,005 shares of the biopharmaceutical company's stock valued at $74,512,000 after purchasing an additional 817,099 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Cytokinetics by 0.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,658 shares of the biopharmaceutical company's stock valued at $3,372,000 after purchasing an additional 659 shares during the last quarter. Finally, Integral Health Asset Management LLC lifted its holdings in shares of Cytokinetics by 33.3% in the 4th quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company's stock valued at $47,040,000 after purchasing an additional 250,000 shares during the last quarter.

Insider Transactions at Cytokinetics

In other news, Director Wendall Wierenga sold 20,000 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $38.46, for a total transaction of $769,200.00. Following the completion of the transaction, the director now directly owns 24,848 shares of the company's stock, valued at approximately $955,654.08. This represents a 44.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Muna Bhanji sold 1,454 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $29.73, for a total value of $43,227.42. Following the transaction, the director now directly owns 23,510 shares of the company's stock, valued at approximately $698,952.30. This trade represents a 5.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 96,816 shares of company stock valued at $3,942,345. Corporate insiders own 2.70% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CYTK. Stifel Nicolaus began coverage on Cytokinetics in a report on Wednesday, January 22nd. They issued a "buy" rating and a $80.00 target price for the company. HC Wainwright reissued a "buy" rating and issued a $120.00 target price on shares of Cytokinetics in a report on Monday, April 21st. Royal Bank of Canada reduced their target price on Cytokinetics from $82.00 to $80.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Bank of America reduced their target price on Cytokinetics from $62.00 to $54.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Finally, Barclays reduced their target price on Cytokinetics from $55.00 to $53.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $74.44.

Cytokinetics Stock Performance

Shares of Cytokinetics stock traded down $0.25 during trading hours on Monday, hitting $30.75. 1,620,472 shares of the company were exchanged, compared to its average volume of 1,680,753. Cytokinetics, Incorporated has a 1 year low of $29.31 and a 1 year high of $61.40. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The business has a 50-day moving average of $38.62 and a 200-day moving average of $45.04. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of -5.72 and a beta of 0.81.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.41) by $0.05. The business had revenue of $1.60 million for 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 last year, the company posted ($1.33) earnings per share. As a group, analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal 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.