GAMMA Investing LLC Increases Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

GAMMA Investing LLC raised its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 15,210.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 45,013 shares of the biopharmaceutical company's stock after purchasing an additional 44,719 shares during the quarter. GAMMA Investing LLC's holdings in Cytokinetics were worth $1,809,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its position in Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 374 shares during the period. Centricity Wealth Management LLC acquired a new stake in Cytokinetics during the 4th quarter valued at approximately $29,000. AlphaQuest LLC increased its position in Cytokinetics by 113,500.0% during the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 1,135 shares during the period. J.Safra Asset Management Corp increased its position in Cytokinetics by 62.1% during the 4th quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company's stock valued at $83,000 after purchasing an additional 671 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cytokinetics during the 4th quarter valued at approximately $87,000.

Insider Buying and Selling at Cytokinetics

In other news, Director John T. Henderson sold 3,190 shares of the firm's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $38.66, for a total transaction of $123,325.40. Following the completion of the sale, the director now directly owns 66,348 shares of the company's stock, valued at $2,565,013.68. This trade represents a 4.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert I. Blum sold 12,648 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $44.38, for a total value of $561,318.24. Following the sale, the chief executive officer now directly owns 326,533 shares of the company's stock, valued at approximately $14,491,534.54. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,700 shares of company stock worth $3,514,393. Corporate insiders own 2.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CYTK. Bank of America cut their price target on Cytokinetics from $62.00 to $54.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Mizuho cut their price target on Cytokinetics from $103.00 to $84.00 and set an "outperform" rating on the stock in a report on Thursday, May 29th. HC Wainwright restated a "buy" rating and set a $120.00 price target on shares of Cytokinetics in a report on Monday, April 21st. UBS Group cut their price target on Cytokinetics from $47.00 to $41.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Finally, Needham & Company LLC restated a "buy" rating and set a $72.00 price target on shares of Cytokinetics in a report on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $70.92.

Cytokinetics Stock Up 3.6%

NASDAQ:CYTK traded up $1.18 during trading hours on Friday, hitting $34.38. 1,604,354 shares of the company traded hands, compared to its average volume of 1,556,845. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The firm's 50-day simple moving average is $34.83 and its 200-day simple moving average is $42.33. Cytokinetics, Incorporated has a one year low of $29.31 and a one year high of $61.38. The company has a market cap of $4.11 billion, a PE ratio of -6.39 and a beta of 0.59.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, beating the consensus estimate of ($1.41) by $0.05. The company had revenue of $1.60 million for the quarter, compared to the consensus estimate of $2.77 million. During the same quarter last year, the business posted ($1.33) earnings per share. Cytokinetics's revenue was up 89.1% on a year-over-year basis. Equities analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

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.