Deep Track Capital LP Purchases 1,870,094 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Deep Track Capital LP lifted its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 296.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,500,000 shares of the biopharmaceutical company's stock after purchasing an additional 1,870,094 shares during the quarter. Cytokinetics accounts for 4.4% of Deep Track Capital LP's portfolio, making the stock its 7th largest position. Deep Track Capital LP owned approximately 2.12% of Cytokinetics worth $117,600,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its holdings in Cytokinetics by 189.8% during the fourth 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 stake in shares of Cytokinetics during the fourth quarter worth about $29,000. AlphaQuest LLC lifted its holdings in shares of Cytokinetics by 113,500.0% during the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 1,135 shares in the last quarter. J.Safra Asset Management Corp lifted its holdings in shares of Cytokinetics by 62.1% during the 4th quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company's stock valued at $83,000 after purchasing an additional 671 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Cytokinetics by 85.8% in the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company's stock valued at $86,000 after purchasing an additional 842 shares during the period.

Insider Activity

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $45.98, for a total value of $91,960.00. Following the sale, the executive vice president now owns 116,071 shares in the company, valued at $5,336,944.58. This represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Wendall Wierenga sold 20,000 shares of the firm's stock in a transaction that occurred 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 approximately $955,654.08. The trade was a 44.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,362 shares of company stock valued at $3,899,118. 2.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on CYTK. JMP Securities restated a "market outperform" rating and set a $78.00 target price on shares of Cytokinetics in a report on Thursday, April 10th. Evercore ISI upgraded shares of Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $72.00 target price on shares of Cytokinetics in a research note on Friday, May 2nd. Bank of America lowered 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, HC Wainwright restated a "buy" rating and issued a $120.00 price target on shares of Cytokinetics in a report on Monday, April 21st. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $76.88.

Cytokinetics Stock Down 7.2 %

NASDAQ:CYTK opened at $34.05 on Wednesday. Cytokinetics, Incorporated has a twelve month low of $32.74 and a twelve month high of $68.44. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of -6.33 and a beta of 0.81. 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 $40.88 and its two-hundred day moving average price is $46.41.

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

About Cytokinetics

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.

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