Tema Etfs LLC Has $1.31 Million Position in Cytokinetics, Incorporated $CYTK

Key Points

• Tema Etfs LLC reduced its stake in Cytokinetics, Incorporated by 31.2% in the first quarter, selling 14,795 shares and bringing its total holdings to 32,588 shares, worth approximately $1.31 million.
• Insider transactions revealed that Executive VP Andrew Callos and Director Edward M. Md Kaye sold shares, with Callos reducing ownership by 14.27% and Kaye by 10.92%, reflecting a total insider sale of over 40,295 shares worth $1.38 million in the last quarter.
• Analysts have adjusted their price targets, with Citigroup lowering theirs from $80 to $77, while a consensus rating indicates a Moderate Buy with an average target price of $71.58.

Tema Etfs LLC cut its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 31.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,588 shares of the biopharmaceutical company's stock after selling 14,795 shares during the period. Tema Etfs LLC's holdings in Cytokinetics were worth $1,310,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CYTK. Deep Track Capital LP boosted its holdings in Cytokinetics by 296.9% in the fourth quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company's stock worth $117,600,000 after purchasing an additional 1,870,094 shares in the last quarter. Vestal Point Capital LP boosted its holdings in Cytokinetics by 56.7% during the fourth quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company's stock valued at $110,544,000 after acquiring an additional 850,000 shares during the period. Orbimed Advisors LLC boosted its holdings in Cytokinetics by 106.5% during the fourth quarter. Orbimed Advisors LLC now owns 1,584,005 shares of the biopharmaceutical company's stock valued at $74,512,000 after acquiring an additional 817,099 shares during the period. Jennison Associates LLC bought a new stake in Cytokinetics during the first quarter valued at about $27,085,000. Finally, Principal Financial Group Inc. boosted its holdings in Cytokinetics by 132.3% during the first quarter. Principal Financial Group Inc. now owns 629,911 shares of the biopharmaceutical company's stock valued at $25,316,000 after acquiring an additional 358,778 shares during the period.

Cytokinetics Trading Down 5.4%

NASDAQ:CYTK traded down $2.02 during mid-day trading on Monday, hitting $35.33. The company's stock had a trading volume of 3,218,236 shares, compared to its average volume of 1,715,271. Cytokinetics, Incorporated has a fifty-two week low of $29.31 and a fifty-two week high of $59.39. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of -6.93 and a beta of 0.62. The stock has a fifty day moving average of $36.19 and a 200-day moving average of $37.63.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.34) by $0.22. The business had revenue of $66.77 million during the quarter, compared to analyst estimates of $1.95 million. The business's revenue for the quarter was up 26727.3% on a year-over-year basis. During the same period last year, the company earned ($1.31) EPS. On average, equities analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on CYTK. Barclays decreased their price target on shares of Cytokinetics from $55.00 to $53.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Raymond James Financial began coverage on shares of Cytokinetics in a report on Wednesday, July 30th. They set a "market perform" rating for the company. JPMorgan Chase & Co. cut their price objective on shares of Cytokinetics from $71.00 to $53.00 and set an "overweight" rating for the company in a research report on Monday, June 9th. Citigroup cut their price objective on shares of Cytokinetics from $80.00 to $77.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Wednesday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $71.58.

Insider Activity

In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $36.45, for a total transaction of $182,250.00. Following the sale, the chief executive officer directly owned 388,108 shares of the company's stock, valued at approximately $14,146,536.60. This represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward M. Md Kaye sold 3,636 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $32.10, for a total transaction of $116,715.60. Following the sale, the director directly owned 29,658 shares in the company, valued at $952,021.80. This represents a 10.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,295 shares of company stock valued at $1,227,910 over the last three months. 2.70% of the stock is owned by corporate 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.