RFG Advisory LLC Invests $1.29 Million in Cytokinetics, Incorporated (NASDAQ:CYTK)

RFG Advisory LLC purchased a new position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 32,005 shares of the biopharmaceutical company's stock, valued at approximately $1,286,000.

Several other hedge funds have also recently modified their holdings of the stock. Mirador Capital Partners LP lifted its holdings in shares of Cytokinetics by 51.0% during the first quarter. Mirador Capital Partners LP now owns 99,125 shares of the biopharmaceutical company's stock worth $3,984,000 after purchasing an additional 33,489 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Cytokinetics by 500.5% during the first 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 period. GAMMA Investing LLC lifted its holdings in shares of Cytokinetics by 15,210.5% during the first quarter. GAMMA Investing LLC now owns 45,013 shares of the biopharmaceutical company's stock worth $1,809,000 after purchasing an additional 44,719 shares during the period. GF Fund Management CO. LTD. acquired a new stake in Cytokinetics in the fourth quarter valued at $117,000. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new stake in Cytokinetics in the fourth quarter valued at $15,483,000.

Insiders Place Their Bets

In other Cytokinetics news, EVP Andrew Callos sold 8,659 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $32.04, for a total value of $277,434.36. Following the sale, the executive vice president now directly owns 52,028 shares of the company's stock, valued at approximately $1,666,977.12. This trade represents a 14.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Muna Bhanji sold 1,454 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were 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 of the company's stock, valued at approximately $698,952.30. This represents a 5.82% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 91,800 shares of company stock valued at $3,518,893. Company insiders own 3.40% of the company's stock.

Cytokinetics Stock Down 1.0%

Shares of NASDAQ:CYTK opened at $32.08 on Friday. 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 company has a market capitalization of $3.83 billion, a P/E ratio of -5.96 and a beta of 0.59. Cytokinetics, Incorporated has a 52-week low of $29.31 and a 52-week high of $61.38. The stock's fifty day simple moving average is $35.34 and its 200-day simple moving average is $43.08.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.41) by $0.05. The firm had revenue of $1.60 million during the quarter, compared to analysts' expectations of $2.77 million. Cytokinetics's revenue for the quarter was up 89.1% on a year-over-year basis. During the same quarter last year, the company posted ($1.33) earnings per share. As a group, equities research analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Bank of America cut their price target on shares of Cytokinetics from $62.00 to $54.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Morgan Stanley set a $67.00 target price on shares of Cytokinetics in a research report on Friday, March 7th. Barclays reduced their price target on shares of Cytokinetics from $55.00 to $53.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Cantor Fitzgerald upgraded Cytokinetics to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $120.00 price objective on shares of Cytokinetics in a research note on Monday, April 21st. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Cytokinetics currently has an average rating of "Moderate Buy" and an average target price of $72.31.

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.

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