18,216 Shares in Cytokinetics, Incorporated (NASDAQ:CYTK) Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new position in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 18,216 shares of the biopharmaceutical company's stock, valued at approximately $732,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CYTK. Louisiana State Employees Retirement System lifted its position in shares of Cytokinetics by 0.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 33,100 shares of the biopharmaceutical company's stock worth $1,330,000 after purchasing an additional 300 shares during the last quarter. State of Michigan Retirement System lifted its holdings in shares of Cytokinetics by 1.1% during the first quarter. State of Michigan Retirement System now owns 28,200 shares of the biopharmaceutical company's stock worth $1,133,000 after buying an additional 300 shares during the last quarter. Banque Pictet & Cie SA bought a new stake in shares of Cytokinetics in the first quarter valued at approximately $330,000. Harvey Capital Management Inc. grew its stake in shares of Cytokinetics by 2.1% in the first quarter. Harvey Capital Management Inc. now owns 22,580 shares of the biopharmaceutical company's stock worth $907,000 after acquiring an additional 475 shares during the last quarter. Finally, Brown Advisory Inc. increased its position in Cytokinetics by 0.9% during the first quarter. Brown Advisory Inc. now owns 1,086,300 shares of the biopharmaceutical company's stock worth $43,658,000 after acquiring an additional 9,869 shares during the period.

Analyst Ratings Changes

CYTK has been the subject of a number of research analyst reports. Citigroup cut their price objective on shares of Cytokinetics from $86.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Needham & Company LLC reiterated a "buy" rating and issued a $72.00 price objective on shares of Cytokinetics in a research report on Wednesday, May 14th. JPMorgan Chase & Co. lowered their price objective on Cytokinetics from $71.00 to $53.00 and set an "overweight" rating on the stock in a research report on Monday, June 9th. HC Wainwright reaffirmed a "buy" rating and issued a $120.00 target price on shares of Cytokinetics in a research report on Monday, April 21st. Finally, Bank of America lowered their price target 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. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cytokinetics currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.92.

Cytokinetics Stock Performance

Shares of NASDAQ CYTK traded down $0.27 during trading on Monday, reaching $36.96. The company had a trading volume of 1,304,048 shares, compared to its average volume of 1,535,663. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $61.38. The business's 50 day moving average price is $33.19 and its 200-day moving average price is $39.75. The stock has a market cap of $4.41 billion, a PE ratio of -6.99 and a beta of 0.59.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings data 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. The firm's quarterly revenue was up 89.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.33) EPS. Equities analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Insiders Place Their Bets

In other Cytokinetics news, Director Edward M. Md Kaye sold 3,636 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $32.10, for a total transaction of $116,715.60. Following the transaction, the director directly owned 29,658 shares in the company, valued at approximately $952,021.80. This represents a 10.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Muna Bhanji sold 1,454 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $29.73, for a total transaction of $43,227.42. Following the sale, the director directly owned 23,510 shares of the company's stock, valued at approximately $698,952.30. This trade represents a 5.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,751 shares of company stock valued at $1,448,561 over the last 90 days. Corporate insiders own 3.40% of the company's stock.

Cytokinetics Company 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.