Natixis Advisors LLC Grows Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Key Points

• Natixis Advisors LLC increased its stake in Cytokinetics by 35.1%, adding 11,806 shares to reach a total of 45,465 shares valued at approximately $1.83 million.
• Cytokinetics reported a significant revenue increase of 26,727.3% year-over-year, totaling $66.77 million for the last quarter, and beating analysts’ expectations for the earnings per share.
• Analysts have mixed ratings for Cytokinetics with a consensus rating of "Moderate Buy" and an average price target around $70.69, highlighting ongoing interest despite various target adjustments from multiple firms.

Natixis Advisors LLC boosted its stake in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 35.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,465 shares of the biopharmaceutical company's stock after purchasing an additional 11,806 shares during the quarter. Natixis Advisors LLC's holdings in Cytokinetics were worth $1,827,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in shares of Cytokinetics during the fourth quarter valued at $254,000. GAMMA Investing LLC lifted its stake in shares of Cytokinetics by 281.0% during 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. Two Sigma Advisers LP lifted its stake in shares of Cytokinetics by 5.4% during the 4th quarter. Two Sigma Advisers LP now owns 226,400 shares of the biopharmaceutical company's stock worth $10,650,000 after purchasing an additional 11,700 shares during the last quarter. RFG Advisory LLC purchased a new stake in shares of Cytokinetics during the 1st quarter worth $1,286,000. Finally, Mirador Capital Partners LP grew its stake in Cytokinetics by 51.0% during the 1st quarter. Mirador Capital Partners LP now owns 99,125 shares of the biopharmaceutical company's stock worth $3,984,000 after buying an additional 33,489 shares during the last quarter.

Insider Activity

In related news, Director Edward M. Md Kaye sold 3,636 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $32.10, for a total transaction of $116,715.60. Following the completion of the transaction, the director directly owned 29,658 shares of the company's stock, valued at $952,021.80. The trade was a 10.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Andrew Callos sold 8,659 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $32.04, for a total value of $277,434.36. Following the completion of the sale, the executive vice president owned 52,028 shares in the company, valued at approximately $1,666,977.12. This represents a 14.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,749 shares of company stock worth $1,350,617 in the last quarter. Insiders own 3.40% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Royal Bank Of Canada dropped their target price on Cytokinetics from $82.00 to $80.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Needham & Company LLC restated a "buy" rating and set a $72.00 target price on shares of Cytokinetics in a research note on Wednesday, May 14th. Cantor Fitzgerald upgraded Cytokinetics to a "strong-buy" rating in a research note on Tuesday, May 13th. HC Wainwright restated a "buy" rating and issued a $120.00 target price on shares of Cytokinetics in a research note on Monday, April 21st. Finally, Citigroup reduced their target price on Cytokinetics from $80.00 to $77.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $70.69.

Cytokinetics Stock Up 5.8%

Shares of CYTK stock traded up $2.00 during trading hours on Wednesday, hitting $36.31. 460,094 shares of the company's stock were exchanged, compared to its average volume of 1,740,181. The firm has a market cap of $4.34 billion, a P/E ratio of -7.11 and a beta of 0.64. Cytokinetics, Incorporated has a fifty-two week low of $29.31 and a fifty-two week high of $59.39. The firm has a 50 day moving average of $34.97 and a two-hundred day moving average of $38.49.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.12) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.34) by $0.22. The business had revenue of $66.77 million for the quarter, compared to analysts' expectations of $1.95 million. During the same period in the previous year, the company earned ($1.31) EPS. Cytokinetics's quarterly revenue was up 26727.3% compared to the same quarter last year. On average, equities analysts forecast 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.