Teza Capital Management LLC Takes Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Teza Capital Management LLC bought a new position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,488 shares of the biopharmaceutical company's stock, valued at approximately $446,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Cytokinetics by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company's stock worth $560,520,000 after acquiring an additional 154,216 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Cytokinetics by 11.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company's stock worth $505,780,000 after purchasing an additional 1,062,136 shares during the period. Deep Track Capital LP increased its holdings in Cytokinetics by 296.9% in the 4th quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company's stock valued at $117,600,000 after purchasing an additional 1,870,094 shares in the last quarter. Marshall Wace LLP raised its position in Cytokinetics by 14.9% in the fourth quarter. Marshall Wace LLP now owns 2,153,313 shares of the biopharmaceutical company's stock valued at $101,292,000 after purchasing an additional 279,612 shares during the period. Finally, Orbimed Advisors LLC lifted its stake in shares of Cytokinetics by 106.5% during the fourth quarter. Orbimed Advisors LLC now owns 1,584,005 shares of the biopharmaceutical company's stock worth $74,512,000 after purchasing an additional 817,099 shares in the last quarter.

Insiders Place Their Bets

In other news, EVP Andrew Callos sold 3,341 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $43.27, for a total transaction of $144,565.07. Following the completion of the transaction, the executive vice president now owns 64,434 shares in the company, valued at approximately $2,788,059.18. This represents a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert I. Blum sold 12,648 shares of the business's 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 disclosure for this sale can be found here. Insiders have sold 94,816 shares of company stock valued at $3,850,385 over the last three months. Company insiders own 2.70% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on CYTK. JMP Securities reiterated a "market outperform" rating and set a $78.00 target price on shares of Cytokinetics in a report on Thursday, April 10th. Cantor Fitzgerald upgraded shares of Cytokinetics to a "strong-buy" rating in a research note on Tuesday, May 13th. HC Wainwright reaffirmed a "buy" rating and set a $120.00 price target on shares of Cytokinetics in a report on Monday, April 21st. Evercore ISI upgraded Cytokinetics to a "strong-buy" rating in a research note on Friday, February 7th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $72.00 price target on shares of Cytokinetics in a research note on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Cytokinetics currently has an average rating of "Moderate Buy" and an average target price of $74.44.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK opened at $30.75 on Tuesday. 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 firm has a 50-day simple moving average of $38.62 and a 200 day simple moving average of $45.04. Cytokinetics, Incorporated has a fifty-two week low of $29.31 and a fifty-two week high of $61.40. The company has a market cap of $3.67 billion, a PE ratio of -5.72 and a beta of 0.81.

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

Cytokinetics 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.

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