47,383 Shares in Cytokinetics, Incorporated (NASDAQ:CYTK) Purchased by Tema Etfs LLC

Tema Etfs LLC purchased a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 47,383 shares of the biopharmaceutical company's stock, valued at approximately $2,229,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CYTK. Jones Financial Companies Lllp lifted its holdings in Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 374 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in Cytokinetics in the fourth quarter valued at approximately $29,000. AlphaQuest LLC boosted its holdings in Cytokinetics by 113,500.0% in the fourth 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 raised its holdings in Cytokinetics by 62.1% during 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 in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Cytokinetics by 85.8% during the fourth quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company's stock worth $86,000 after purchasing an additional 842 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have recently commented on CYTK. JMP Securities reaffirmed a "market outperform" rating and issued a $78.00 target price on shares of Cytokinetics in a report on Thursday, April 10th. Citigroup reduced their price objective on Cytokinetics from $86.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Royal Bank of Canada lowered their target price on Cytokinetics from $82.00 to $80.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Cantor Fitzgerald upgraded Cytokinetics to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, HC Wainwright reiterated a "buy" rating and issued a $120.00 price objective on shares of Cytokinetics in a research report on Monday, April 21st. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $74.44.

Insiders Place Their Bets

In other Cytokinetics news, Director Muna Bhanji sold 1,454 shares of Cytokinetics stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $29.73, for a total transaction of $43,227.42. Following the transaction, the director now directly owns 23,510 shares of the company's stock, valued at $698,952.30. The trade was a 5.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Andrew Callos sold 3,341 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $43.27, for a total value of $144,565.07. Following the completion of the transaction, the executive vice president now directly owns 64,434 shares in the company, valued at $2,788,059.18. This trade represents a 4.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 94,816 shares of company stock valued at $3,850,385. Insiders own 2.70% of the company's stock.

Cytokinetics Price Performance

Cytokinetics stock traded down $0.23 during mid-day trading on Friday, reaching $30.26. The company had a trading volume of 580,361 shares, compared to its average volume of 1,688,448. The stock's 50-day simple moving average is $37.83 and its 200-day simple moving average is $44.72. Cytokinetics, Incorporated has a 1 year low of $29.31 and a 1 year high of $61.38. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The company has a market capitalization of $3.61 billion, a P/E ratio of -5.62 and a beta of 0.81.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the firm earned ($1.33) EPS. The company's quarterly revenue was up 89.1% compared to the same quarter last year. On average, equities analysts predict 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.