Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Purchased by Mirador Capital Partners LP

Mirador Capital Partners LP boosted its position in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 51.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 99,125 shares of the biopharmaceutical company's stock after buying an additional 33,489 shares during the period. Mirador Capital Partners LP owned approximately 0.08% of Cytokinetics worth $3,984,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Blue Trust Inc. boosted its position in Cytokinetics by 85.8% in the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company's stock worth $86,000 after purchasing an additional 842 shares in the last quarter. Pacer Advisors Inc. boosted its position in Cytokinetics by 2.9% in the 4th quarter. Pacer Advisors Inc. now owns 24,843 shares of the biopharmaceutical company's stock worth $1,169,000 after purchasing an additional 690 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Cytokinetics by 10.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 25,023 shares of the biopharmaceutical company's stock worth $1,177,000 after purchasing an additional 2,393 shares in the last quarter. abrdn plc boosted its position in Cytokinetics by 29.4% in the 4th quarter. abrdn plc now owns 450,513 shares of the biopharmaceutical company's stock worth $21,192,000 after purchasing an additional 102,457 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its position in Cytokinetics by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company's stock worth $6,750,000 after purchasing an additional 565 shares in the last quarter.

Insiders Place Their Bets

In other Cytokinetics news, CEO Robert I. Blum sold 12,648 shares of Cytokinetics stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $44.38, for a total transaction of $561,318.24. Following the transaction, the chief executive officer now directly owns 326,533 shares of the company's stock, valued at $14,491,534.54. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Muna Bhanji sold 1,454 shares of Cytokinetics stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $29.73, for a total transaction of $43,227.42. Following the transaction, the director now directly owns 23,510 shares in the company, valued at $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 79,505 shares of company stock valued at $3,124,744 over the last ninety days. Company insiders own 3.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CYTK. Citigroup reduced their target price on Cytokinetics from $86.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. JMP Securities reaffirmed a "market outperform" rating and set a $78.00 target price on shares of Cytokinetics in a research note on Thursday, April 10th. Evercore ISI raised Cytokinetics to a "strong-buy" rating in a research note on Friday, February 7th. Barclays reduced their target price on Cytokinetics from $55.00 to $53.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $120.00 target price on shares of Cytokinetics in a research note on Monday, April 21st. Three 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $72.31.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK traded down $0.18 during midday trading on Thursday, hitting $32.23. The company's stock had a trading volume of 353,359 shares, compared to its average volume of 1,580,873. The business's 50 day simple moving average is $35.50 and its 200 day simple moving average is $43.22. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The company has a market cap of $3.85 billion, a P/E ratio of -5.99 and a beta of 0.59. Cytokinetics, Incorporated has a 12-month low of $29.31 and a 12-month high of $61.38.

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

About Cytokinetics

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.