Fox Run Management L.L.C. Acquires Shares of 23,181 Cytokinetics, Incorporated $CYTK

Key Points

• Fox Run Management L.L.C. has acquired a new stake in Cytokinetics, purchasing 23,181 shares valued at approximately $932,000.
• Significant changes in positions by other hedge funds have been noted, with Fifth Third Bancorp increasing its holdings by 42.2% and Assetmark Inc. boosting its stake by 11,510.0%.
• Cytokinetics reported a quarterly revenue increase of 26727.3% year-over-year, with earnings per share beating estimates, showcasing strong financial performance.

Fox Run Management L.L.C. acquired a new position in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 23,181 shares of the biopharmaceutical company's stock, valued at approximately $932,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp boosted its holdings in Cytokinetics by 42.2% in the 1st quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company's stock worth $39,000 after buying an additional 291 shares during the period. Parallel Advisors LLC lifted its stake in Cytokinetics by 500.5% in the 1st quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company's stock worth $44,000 after purchasing an additional 916 shares in the last quarter. GAMMA Investing LLC lifted its stake in Cytokinetics by 281.0% in the 1st quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company's stock worth $45,000 after purchasing an additional 826 shares in the last quarter. UMB Bank n.a. lifted its stake in Cytokinetics by 91.4% in the 1st quarter. UMB Bank n.a. now owns 1,156 shares of the biopharmaceutical company's stock worth $46,000 after purchasing an additional 552 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in Cytokinetics by 11,510.0% in the 1st quarter. Assetmark Inc. now owns 1,161 shares of the biopharmaceutical company's stock worth $47,000 after purchasing an additional 1,151 shares in the last quarter.

Insider Activity

In other Cytokinetics news, Director Edward M. Md Kaye sold 3,636 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $32.10, for a total value of $116,715.60. Following the transaction, the director owned 29,658 shares in the company, valued at approximately $952,021.80. The trade was a 10.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew Callos sold 8,659 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $32.04, for a total transaction of $277,434.36. Following the completion of the transaction, the executive vice president owned 52,028 shares in the company, valued at $1,666,977.12. The trade was a 14.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,295 shares of company stock worth $1,384,010 over the last ninety days. 3.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CYTK shares. Raymond James Financial started coverage on shares of Cytokinetics in a research report on Wednesday, July 30th. They set a "market perform" rating on the stock. Wall Street Zen upgraded shares of Cytokinetics from a "strong sell" rating to a "hold" rating in a research report on Sunday, August 10th. JPMorgan Chase & Co. lowered their price objective on shares of Cytokinetics from $71.00 to $53.00 and set an "overweight" rating on the stock in a research report on Monday, June 9th. Citigroup lowered their price objective on shares of Cytokinetics from $80.00 to $77.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Finally, Needham & Company LLC restated a "buy" rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Wednesday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $71.58.

Cytokinetics Stock Performance

NASDAQ:CYTK traded down $0.3410 during trading hours on Wednesday, reaching $37.4990. The company's stock had a trading volume of 647,700 shares, compared to its average volume of 1,746,163. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of -7.35 and a beta of 0.64. The firm has a 50-day simple moving average of $35.50 and a 200-day simple moving average of $38.10. 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 issued its earnings results 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 business had revenue of $66.77 million during the quarter, compared to analysts' expectations of $1.95 million. Cytokinetics's revenue for the quarter was up 26727.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.31) EPS. Equities analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

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.