Capital Fund Management S.A. Acquires 14,818 Shares of Cytokinetics, Incorporated $CYTK

Key Points

• Capital Fund Management S.A. increased its stake in Cytokinetics by 36.6% during the 1st quarter, holding a total of 55,264 shares valued at approximately $2.22 million.
• Cytokinetics reported (-$1.12) earnings per share for the latest quarter, surpassing analysts' estimates and achieving a year-over-year revenue increase of 26,727.3%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Cytokinetics, with an average target price set at $71.58, despite recent adjustments by major firms lowering their price targets.

Capital Fund Management S.A. grew its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 36.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,264 shares of the biopharmaceutical company's stock after acquiring an additional 14,818 shares during the quarter. Capital Fund Management S.A.'s holdings in Cytokinetics were worth $2,221,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of Cytokinetics during the fourth quarter valued at approximately $254,000. Tower Research Capital LLC TRC boosted its position in shares of Cytokinetics by 86.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 16,920 shares of the biopharmaceutical company's stock valued at $796,000 after buying an additional 7,864 shares during the last quarter. Pinebridge Investments L.P. boosted its position in shares of Cytokinetics by 42.7% during the fourth quarter. Pinebridge Investments L.P. now owns 36,404 shares of the biopharmaceutical company's stock valued at $1,712,000 after buying an additional 10,889 shares during the last quarter. Voya Investment Management LLC boosted its position in Cytokinetics by 14.6% in the fourth quarter. Voya Investment Management LLC now owns 80,463 shares of the biopharmaceutical company's stock worth $3,785,000 after purchasing an additional 10,247 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Cytokinetics in the fourth quarter worth $6,200,000.

Insider Transactions at Cytokinetics

In related news, Director Edward M. Md Kaye sold 3,636 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $32.10, for a total transaction of $116,715.60. Following the completion of the transaction, the director owned 29,658 shares of the company's stock, valued at $952,021.80. This trade represents a 10.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert I. Blum sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $38.15, for a total value of $190,750.00. Following the transaction, the chief executive officer directly owned 393,108 shares of the company's stock, valued at approximately $14,997,070.20. This trade represents a 1.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,295 shares of company stock worth $1,384,010. 2.70% of the stock is owned by company insiders.

Cytokinetics Stock Performance

CYTK traded down $0.48 on Thursday, hitting $37.35. 2,161,695 shares of the company were exchanged, compared to its average volume of 1,744,033. Cytokinetics, Incorporated has a 12 month low of $29.31 and a 12 month high of $59.39. The firm has a fifty day simple moving average of $36.04 and a two-hundred day simple moving average of $37.77. The stock has a market capitalization of $4.47 billion, a PE ratio of -7.32 and a beta of 0.64.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.12) earnings per share for the quarter, topping the consensus estimate of ($1.34) by $0.22. The business had revenue of $66.77 million during the quarter, compared to analysts' expectations of $1.95 million. During the same quarter last year, the business posted ($1.31) EPS. The company's quarterly revenue was up 26727.3% compared to the same quarter last year. On average, equities analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Analysts Set New Price Targets

CYTK has been the topic of several research analyst reports. Barclays cut their price objective on Cytokinetics from $55.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Cantor Fitzgerald raised Cytokinetics to a "strong-buy" rating in a research report on Tuesday, May 13th. Needham & Company LLC reissued a "buy" rating and issued a $72.00 price objective on shares of Cytokinetics in a research report on Wednesday, May 14th. Raymond James Financial began coverage on Cytokinetics in a research report on Wednesday, July 30th. They issued a "market perform" rating on the stock. Finally, Wall Street Zen raised Cytokinetics from a "strong sell" rating to a "hold" rating in a research report on Sunday, August 10th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Cytokinetics has a consensus rating of "Moderate Buy" and a consensus target price of $71.58.

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.