CW Advisors LLC Purchases New Position in Cytokinetics, Incorporated $CYTK

Key Points

• CW Advisors LLC has taken a new position in Cytokinetics by acquiring 28,000 shares valued at approximately $1.13 million in the first quarter.
• Several institutional investors have significantly increased their stakes in Cytokinetics, with increases of up to 11,510% noted among some firms.
• Cytokinetics reported a quarterly EPS of ($1.12), surpassing expectations, and significant revenue growth of 26,727.3% compared to the previous year.

CW Advisors LLC bought a new stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 28,000 shares of the biopharmaceutical company's stock, valued at approximately $1,125,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Capital Fund Management S.A. boosted its stake in shares of Cytokinetics by 36.6% during the 1st quarter. Capital Fund Management S.A. now owns 55,264 shares of the biopharmaceutical company's stock worth $2,221,000 after purchasing an additional 14,818 shares during the last quarter. Algert Global LLC boosted its stake in shares of Cytokinetics by 98.2% during the 1st quarter. Algert Global LLC now owns 116,320 shares of the biopharmaceutical company's stock worth $4,675,000 after purchasing an additional 57,640 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Cytokinetics by 1.3% during the 1st quarter. American Century Companies Inc. now owns 361,388 shares of the biopharmaceutical company's stock worth $14,524,000 after purchasing an additional 4,812 shares during the last quarter. Aberdeen Group plc boosted its stake in shares of Cytokinetics by 33.7% during the 1st quarter. Aberdeen Group plc now owns 602,421 shares of the biopharmaceutical company's stock worth $24,211,000 after purchasing an additional 151,908 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Cytokinetics during the 1st quarter worth about $932,000.

Insider Transactions at Cytokinetics

In related news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $36.45, for a total value of $182,250.00. Following the completion of the sale, the chief executive officer directly owned 388,108 shares in the company, valued at approximately $14,146,536.60. This represents a 1.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew Callos sold 8,659 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $32.04, for a total value of $277,434.36. Following the completion of the sale, the executive vice president owned 52,028 shares of the company's stock, valued at approximately $1,666,977.12. This represents a 14.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,295 shares of company stock valued at $1,384,010. Corporate insiders own 2.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CYTK. Barclays decreased their price target on shares of Cytokinetics from $55.00 to $53.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Cantor Fitzgerald raised shares of Cytokinetics to a "strong-buy" rating in a research note on Tuesday, May 13th. Raymond James Financial began coverage on shares of Cytokinetics in a research note on Wednesday, July 30th. They set a "market perform" rating on the stock. Wall Street Zen raised shares of Cytokinetics from a "strong sell" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Cytokinetics from $71.00 to $53.00 and set an "overweight" rating on the stock in a research note on Monday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Cytokinetics has a consensus rating of "Moderate Buy" and an average price target of $71.58.

Cytokinetics Stock Down 1.3%

Shares of CYTK stock traded down $0.48 on Thursday, reaching $37.35. 2,161,695 shares of the stock were exchanged, compared to its average volume of 1,589,721. The stock has a market cap of $4.47 billion, a P/E ratio of -7.32 and a beta of 0.64. The firm has a 50 day moving average of $36.14 and a two-hundred day moving average of $37.73. Cytokinetics, Incorporated has a 1-year low of $29.31 and a 1-year high of $59.39.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.12) EPS for the quarter, topping analysts' consensus estimates of ($1.34) by $0.22. The firm had revenue of $66.77 million for the quarter, compared to analyst estimates of $1.95 million. The company's quarterly revenue was up 26727.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.31) earnings per share. On average, equities research analysts predict that Cytokinetics, Incorporated will post -5.24 EPS 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.