Teza Capital Management LLC Purchases New Shares in Cytokinetics, Incorporated (NASDAQ:CYTK)

Teza Capital Management LLC bought a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 9,488 shares of the biopharmaceutical company's stock, valued at approximately $446,000.

Several other hedge funds also recently modified their holdings of the business. Harvey Capital Management Inc. acquired a new stake in shares of Cytokinetics in the 4th quarter valued at approximately $1,040,000. Raymond James Financial Inc. acquired a new stake in shares of Cytokinetics in the 4th quarter valued at approximately $254,000. abrdn plc raised its position in shares of Cytokinetics by 29.4% in the 4th quarter. abrdn plc now owns 450,513 shares of the biopharmaceutical company's stock valued at $21,192,000 after acquiring an additional 102,457 shares during the period. AlphaQuest LLC raised its position in shares of Cytokinetics by 113,500.0% in the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock valued at $53,000 after acquiring an additional 1,135 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Cytokinetics by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company's stock valued at $560,520,000 after acquiring an additional 154,216 shares during the period.

Analyst Ratings Changes

A number of brokerages recently weighed in on CYTK. JMP Securities reiterated a "market outperform" rating and issued a $78.00 price target on shares of Cytokinetics in a research report on Thursday, April 10th. Morgan Stanley set a $67.00 price target on shares of Cytokinetics in a research report on Friday, March 7th. Evercore ISI upgraded shares of Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. HC Wainwright restated a "buy" rating and set a $120.00 target price on shares of Cytokinetics in a report on Monday, April 21st. Finally, Royal Bank of Canada dropped their target price on shares of Cytokinetics from $82.00 to $80.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $74.73.

Cytokinetics Stock Up 0.2%

Shares of NASDAQ CYTK traded up $0.05 during midday trading on Friday, reaching $30.54. The company's stock had a trading volume of 1,789,501 shares, compared to its average volume of 1,620,482. Cytokinetics, Incorporated has a fifty-two week low of $29.31 and a fifty-two week high of $61.38. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The stock has a 50 day simple moving average of $37.58 and a 200-day simple moving average of $44.49. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of -5.68 and a beta of 0.81.

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

Insider Activity at Cytokinetics

In other Cytokinetics news, Director Muna Bhanji sold 1,454 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $29.73, for a total transaction of $43,227.42. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Andrew Callos sold 2,775 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $44.38, for a total value of $123,154.50. Following the sale, the executive vice president now owns 34,888 shares of the company's stock, valued at approximately $1,548,329.44. This represents a 7.37% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 94,816 shares of company stock valued at $3,850,385. 2.70% of the stock is owned by corporate insiders.

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.