ExodusPoint Capital Management LP Decreases Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

ExodusPoint Capital Management LP reduced its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 92.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,324 shares of the biopharmaceutical company's stock after selling 108,660 shares during the quarter. ExodusPoint Capital Management LP's holdings in Cytokinetics were worth $439,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in shares of Cytokinetics by 189.8% in 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 Cytokinetics in the fourth quarter worth about $29,000. AlphaQuest LLC increased its stake in 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 buying an additional 1,135 shares during the period. J.Safra Asset Management Corp boosted its holdings 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 acquiring an additional 671 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Cytokinetics by 85.8% during 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 in the last quarter.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $45.92, for a total transaction of $91,840.00. Following the transaction, the executive vice president now owns 116,071 shares in the company, valued at approximately $5,329,980.32. This represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert I. Blum sold 16,970 shares of Cytokinetics stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $43.44, for a total value of $737,176.80. Following the transaction, the chief executive officer now owns 364,181 shares of the company's stock, valued at $15,820,022.64. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,360 shares of company stock valued at $2,890,065. 3.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Tuesday, April 8th. JMP Securities reaffirmed a "market outperform" rating and issued a $78.00 price target on shares of Cytokinetics in a research note on Thursday, April 10th. HC Wainwright reiterated a "buy" rating and set a $120.00 price target on shares of Cytokinetics in a report on Tuesday. Stifel Nicolaus initiated coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They set a "buy" rating and a $80.00 price target on the stock. Finally, Evercore ISI upgraded shares of Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cytokinetics currently has an average rating of "Moderate Buy" and an average target price of $81.63.

Cytokinetics Stock Performance

CYTK traded up $0.33 on Friday, reaching $39.48. The company had a trading volume of 1,075,537 shares, compared to its average volume of 1,600,188. Cytokinetics, Incorporated has a fifty-two week low of $32.74 and a fifty-two week high of $68.76. The stock has a market cap of $4.71 billion, a P/E ratio of -7.34 and a beta of 0.94. The company's fifty day moving average is $42.68 and its 200 day moving average is $47.84. 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 released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, beating the consensus estimate of ($1.29) by $0.03. The firm had revenue of $16.93 million during the quarter, compared to the consensus estimate of $14.26 million. As a group, analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal 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.