Zimmer Partners LP Sells 39,200 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Zimmer Partners LP reduced its position in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 50.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,000 shares of the biopharmaceutical company's stock after selling 39,200 shares during the period. Zimmer Partners LP's holdings in Cytokinetics were worth $1,788,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CYTK. Inspire Investing LLC lifted its stake in shares of Cytokinetics by 7.8% in the fourth quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company's stock valued at $400,000 after buying an additional 616 shares in the last quarter. Blue Trust Inc. raised its holdings 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 worth $86,000 after acquiring an additional 842 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Cytokinetics by 2.9% in the 4th quarter. Pacer Advisors Inc. now owns 24,843 shares of the biopharmaceutical company's stock worth $1,169,000 after acquiring an additional 690 shares during the last quarter. R Squared Ltd bought a new position in Cytokinetics in the 4th quarter valued at about $133,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in Cytokinetics by 10.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 25,023 shares of the biopharmaceutical company's stock valued at $1,177,000 after purchasing an additional 2,393 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CYTK shares. HC Wainwright reissued a "buy" rating and issued a $120.00 price objective on shares of Cytokinetics in a research note on Monday, April 21st. JMP Securities reiterated a "market outperform" rating and set a $78.00 price target on shares of Cytokinetics in a report on Thursday, April 10th. Morgan Stanley set a $67.00 price objective on Cytokinetics in a research note on Friday, March 7th. Bank of America cut their price objective on shares of Cytokinetics from $62.00 to $54.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Finally, Evercore ISI upgraded shares of Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Cytokinetics has an average rating of "Moderate Buy" and an average price target of $74.73.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $38.11, for a total transaction of $76,220.00. Following the completion of the transaction, the executive vice president now owns 140,255 shares in the company, valued at $5,345,118.05. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrew Callos sold 3,341 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $43.27, for a total transaction of $144,565.07. Following the completion of the sale, the executive vice president now directly owns 64,434 shares in the company, valued at approximately $2,788,059.18. This trade represents a 4.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,816 shares of company stock worth $3,850,385 over the last ninety days. 2.70% of the stock is currently owned by company insiders.

Cytokinetics Stock Performance

CYTK stock traded up $0.05 during mid-day trading on Monday, hitting $30.54. The company had a trading volume of 1,789,501 shares, compared to its average volume of 1,620,482. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The firm has a market cap of $3.65 billion, a PE ratio of -5.68 and a beta of 0.81. Cytokinetics, Incorporated has a 12 month low of $29.31 and a 12 month high of $61.38. The stock's fifty day moving average price is $37.58 and its two-hundred day moving average price is $44.41.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, topping analysts' consensus estimates of ($1.41) by $0.05. The company had revenue of $1.60 million during the quarter, compared to the consensus estimate of $2.77 million. During the same period last year, the firm posted ($1.33) EPS. The company's revenue for the quarter was up 89.1% compared to the same quarter last year. On average, analysts forecast 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.