Mirador Capital Partners LP Has $4.77 Million Position in Cytokinetics, Incorporated $CYTK

Key Points

• Mirador Capital Partners LP increased its ownership in Cytokinetics, Incorporated by 45.6%, now holding 144,347 shares valued at approximately $4.77 million.
• Insider trading activity includes Director Edward M. Md Kaye selling 6,756 shares for around $337,800, reflecting a 22.53% decrease in his holdings.
• Consensus ratings for CYTK show ten analysts giving a buy rating and a current average price target of $75.38, with price targets ranging from $72 to $96.

Mirador Capital Partners LP raised its stake in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 45.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 144,347 shares of the biopharmaceutical company's stock after buying an additional 45,222 shares during the quarter. Mirador Capital Partners LP owned 0.12% of Cytokinetics worth $4,769,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its position in Cytokinetics by 42.2% in the first quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company's stock worth $39,000 after acquiring an additional 291 shares in the last quarter. Parallel Advisors LLC grew its position 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 during the last quarter. GAMMA Investing LLC grew its position 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 during the last quarter. UMB Bank n.a. grew its position 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 during the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Cytokinetics by 11,510.0% during the 1st quarter. Assetmark Inc. now owns 1,161 shares of the biopharmaceutical company's stock worth $47,000 after acquiring an additional 1,151 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CYTK. JMP Securities reaffirmed a "market outperform" rating and set a $78.00 price objective on shares of Cytokinetics in a report on Tuesday, September 2nd. Stifel Nicolaus raised their price objective on shares of Cytokinetics from $87.00 to $96.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Mizuho reduced their price objective on shares of Cytokinetics from $103.00 to $84.00 and set an "outperform" rating for the company in a report on Thursday, May 29th. Evercore ISI raised their price objective on shares of Cytokinetics from $60.00 to $80.00 and gave the stock an "outperform" rating in a report on Wednesday, September 3rd. Finally, Barclays raised their price objective on shares of Cytokinetics from $53.00 to $71.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.38.

Cytokinetics Trading Down 1.3%

Shares of NASDAQ:CYTK traded down $0.63 during trading on Friday, hitting $48.66. 3,761,554 shares of the company's stock were exchanged, compared to its average volume of 3,075,630. Cytokinetics, Incorporated has a 1-year low of $29.31 and a 1-year high of $59.39. The firm has a 50-day moving average price of $40.79 and a two-hundred day moving average price of $38.00. The firm has a market cap of $5.82 billion, a P/E ratio of -9.54 and a beta of 0.62.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.12) EPS for the quarter, topping the consensus estimate of ($1.34) by $0.22. The business had revenue of $66.77 million for the quarter, compared to analyst estimates of $1.95 million. During the same quarter in the prior year, the firm earned ($1.31) EPS. The firm's quarterly revenue was up 26727.3% compared to the same quarter last year. As a group, research analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Insider Transactions at Cytokinetics

In related news, Director Edward M. Md Kaye sold 6,756 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $50.00, for a total transaction of $337,800.00. Following the completion of the transaction, the director owned 23,230 shares in the company, valued at approximately $1,161,500. The trade was a 22.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert I. Blum sold 5,000 shares of the business's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $49.77, for a total transaction of $248,850.00. Following the transaction, the chief executive officer owned 373,108 shares of the company's stock, valued at approximately $18,569,585.16. This represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,756 shares of company stock worth $1,353,990 in the last quarter. 2.70% of the stock is owned by company insiders.

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.