Cytokinetics, Incorporated (NASDAQ:CYTK) Stock Position Increased by Vestal Point Capital LP

Vestal Point Capital LP grew its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 56.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,350,000 shares of the biopharmaceutical company's stock after purchasing an additional 850,000 shares during the period. Cytokinetics makes up approximately 6.6% of Vestal Point Capital LP's holdings, making the stock its 2nd largest position. Vestal Point Capital LP owned approximately 1.99% of Cytokinetics worth $110,544,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CYTK. Deep Track Capital LP lifted its holdings in shares of Cytokinetics by 296.9% during the fourth 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 during the last quarter. Capital International Investors bought a new stake in shares of Cytokinetics during the fourth quarter valued at approximately $51,564,000. T. Rowe Price Investment Management Inc. increased its position in shares of Cytokinetics by 11.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company's stock valued at $505,780,000 after acquiring an additional 1,062,136 shares in the last quarter. Norges Bank bought a new stake in shares of Cytokinetics during the fourth quarter valued at approximately $46,556,000. Finally, Orbimed Advisors LLC increased its position 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 valued at $74,512,000 after acquiring an additional 817,099 shares in the last quarter.

Cytokinetics Stock Performance

NASDAQ:CYTK traded up $0.05 during trading hours on Friday, reaching $30.54. The company had a trading volume of 1,789,501 shares, compared to its average volume of 1,638,189. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $61.38. The firm's 50 day moving average price is $37.58 and its 200-day moving average price is $44.57. 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 firm has a market cap 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 issued its quarterly earnings data 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 business had revenue of $1.60 million for the quarter, compared to the consensus estimate of $2.77 million. During the same period in the previous year, the firm earned ($1.33) EPS. The company's revenue was up 89.1% on a year-over-year basis. On average, analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Insider Activity

In other news, Director Muna Bhanji sold 1,454 shares of the business's stock in a transaction 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 owns 23,510 shares of the company's stock, valued at $698,952.30. The trade was a 5.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Wendall Wierenga sold 20,000 shares of the business's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $38.46, for a total transaction of $769,200.00. Following the sale, the director now directly owns 24,848 shares of the company's stock, valued at approximately $955,654.08. The trade was a 44.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 94,816 shares of company stock valued at $3,850,385 in the last 90 days. Company insiders own 2.70% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CYTK. 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. UBS Group reduced their price target on shares of Cytokinetics from $47.00 to $41.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Morgan Stanley set a $67.00 price target on shares of Cytokinetics in a research report on Friday, March 7th. Needham & Company LLC reissued a "buy" rating and set a $72.00 price target on shares of Cytokinetics in a research report on Wednesday, May 14th. Finally, Royal Bank of Canada reduced their price target on shares of Cytokinetics from $82.00 to $80.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $74.73.

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.