Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Purchased by Aquatic Capital Management LLC

Aquatic Capital Management LLC lifted its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 131.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,553 shares of the biopharmaceutical company's stock after acquiring an additional 99,653 shares during the quarter. Aquatic Capital Management LLC owned approximately 0.15% of Cytokinetics worth $8,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Capital International Investors acquired a new position in shares of Cytokinetics during the fourth quarter worth approximately $51,564,000. T. Rowe Price Investment Management Inc. increased its holdings in Cytokinetics by 11.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company's stock worth $505,780,000 after buying an additional 1,062,136 shares during the last quarter. Norges Bank purchased a new stake in Cytokinetics during the fourth quarter worth about $46,556,000. Groupama Asset Managment purchased a new position in shares of Cytokinetics in the fourth quarter worth about $16,464,000. Finally, Marshall Wace LLP increased its stake in shares of Cytokinetics by 14.9% in the fourth quarter. Marshall Wace LLP now owns 2,153,313 shares of the biopharmaceutical company's stock worth $101,292,000 after purchasing an additional 279,612 shares in the last quarter.

Insider Transactions at Cytokinetics

In related news, Director Wendall Wierenga sold 20,000 shares of the business's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $38.46, for a total value of $769,200.00. Following the completion of the sale, the director now directly owns 24,848 shares of the company's stock, valued at $955,654.08. The trade was a 44.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andrew Callos sold 3,341 shares of Cytokinetics stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $43.27, for a total transaction of $144,565.07. Following the completion of the transaction, the executive vice president now owns 64,434 shares in the company, 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 three months, insiders sold 93,360 shares of company stock valued at $3,848,445. Insiders own 3.40% of the company's stock.

Cytokinetics Price Performance

NASDAQ CYTK traded up $1.55 on Wednesday, hitting $42.84. The company had a trading volume of 1,723,016 shares, compared to its average volume of 1,604,793. Cytokinetics, Incorporated has a 12-month low of $32.74 and a 12-month high of $68.44. The company has a market capitalization of $5.11 billion, a PE ratio of -7.96 and a beta of 0.94. The company's fifty day moving average price is $41.79 and its 200-day moving average price is $46.97. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, beating the consensus estimate of ($1.29) by $0.03. The firm had revenue of $16.93 million for the quarter, compared to analyst estimates of $14.26 million. As a group, analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Analysts Set New Price Targets

CYTK has been the subject of a number of analyst reports. HC Wainwright restated a "buy" rating and issued a $120.00 price objective on shares of Cytokinetics in a research report on Monday, April 21st. Barclays assumed coverage on shares of Cytokinetics in a report on Thursday, April 24th. They issued an "overweight" rating and a $55.00 price objective for the company. Stifel Nicolaus started coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They issued a "buy" rating and a $80.00 target price on the stock. Citigroup started coverage on shares of Cytokinetics in a research report on Friday, February 7th. They set a "buy" rating and a $86.00 price target on the stock. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $78.00 price objective on shares of Cytokinetics in a research report on Thursday, April 10th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $79.13.

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.