Lisanti Capital Growth LLC Increases Position in Cytokinetics, Incorporated $CYTK

Key Points

• Lisanti Capital Growth LLC increased its Cytokinetics stake by 51.2% in the fourth quarter, buying 25,130 more shares and bringing its total holding to 74,200 shares valued at about $4.7 million.
• Several other institutional investors also boosted their positions, while analysts remain broadly positive on the stock with a Moderate Buy consensus and an average price target of $99.30.
• Cytokinetics reported quarterly EPS that matched expectations and revenue that far exceeded estimates, but insiders have recently sold shares, including CEO Robert I. Blum and EVP Andrew Callos.

Lisanti Capital Growth LLC raised its position in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 51.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,200 shares of the biopharmaceutical company's stock after purchasing an additional 25,130 shares during the quarter. Lisanti Capital Growth LLC owned 0.06% of Cytokinetics worth $4,715,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Cytokinetics by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 12,048,131 shares of the biopharmaceutical company's stock valued at $765,538,000 after purchasing an additional 191,336 shares during the period. Deep Track Capital LP raised its position in Cytokinetics by 17.8% in the third quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company's stock valued at $236,328,000 after purchasing an additional 650,000 shares during the period. Vestal Point Capital LP raised its position in Cytokinetics by 14.8% in the second quarter. Vestal Point Capital LP now owns 2,975,000 shares of the biopharmaceutical company's stock valued at $98,294,000 after purchasing an additional 384,469 shares during the period. Woodline Partners LP raised its position in Cytokinetics by 676.1% in the third quarter. Woodline Partners LP now owns 1,647,725 shares of the biopharmaceutical company's stock valued at $90,559,000 after purchasing an additional 1,435,422 shares during the period. Finally, Northern Trust Corp raised its position in Cytokinetics by 2.0% in the third quarter. Northern Trust Corp now owns 1,406,832 shares of the biopharmaceutical company's stock valued at $77,319,000 after purchasing an additional 27,641 shares during the period.

Analysts Set New Price Targets

CYTK has been the topic of a number of research analyst reports. Royal Bank Of Canada boosted their target price on Cytokinetics from $101.00 to $119.00 and gave the company an "outperform" rating in a research report on Wednesday, May 6th. Citigroup initiated coverage on Cytokinetics in a research report on Monday, May 18th. They issued a "buy" rating and a $99.00 target price on the stock. Bank of America reissued a "neutral" rating on shares of Cytokinetics in a research report on Wednesday, February 25th. Morgan Stanley upped their price objective on Cytokinetics from $90.00 to $103.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Finally, Stifel Nicolaus upped their price objective on Cytokinetics from $98.00 to $108.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $99.30.

Cytokinetics Trading Down 1.4%

Cytokinetics stock opened at $76.94 on Friday. Cytokinetics, Incorporated has a twelve month low of $29.81 and a twelve month high of $80.20. The stock's fifty day simple moving average is $67.38 and its 200-day simple moving average is $65.13. The firm has a market capitalization of $9.57 billion, a P/E ratio of -11.25 and a beta of 0.38.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, hitting analysts' consensus estimates of ($1.67). The company had revenue of $19.36 million for the quarter, compared to analysts' expectations of $8.52 million. During the same period in the prior year, the company posted ($1.36) EPS. The firm's revenue was up 1112.5% compared to the same quarter last year. Sell-side analysts predict that Cytokinetics, Incorporated will post -6.27 earnings per share for the current year.

Insider Transactions at Cytokinetics

In related news, EVP Andrew Callos sold 15,857 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $65.00, for a total value of $1,030,705.00. Following the transaction, the executive vice president owned 58,555 shares of the company's stock, valued at $3,806,075. This represents a 21.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert I. Blum sold 7,500 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $77.92, for a total value of $584,400.00. Following the completion of the transaction, the chief executive officer directly owned 400,330 shares in the company, valued at $31,193,713.60. This trade represents a 1.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 177,476 shares of company stock valued at $11,294,769. 2.60% of the stock is currently owned by company insiders.

Cytokinetics Profile

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company's most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.

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