Woodline Partners LP Boosts Stock Holdings in Cytokinetics, Incorporated $CYTK

Key Points

• Woodline Partners LP increased its stake in Cytokinetics, Incorporated by 68.2%, now holding 212,303 shares valued at approximately $8.5 million.
• Several other large investors, such as Fifth Third Bancorp and Parallel Advisors LLC, also significantly increased their holdings in Cytokinetics during the first quarter.
• Analysts are optimistic about Cytokinetics, with ratings showing a consensus target price of $75.38 and multiple firms issuing buy ratings.

Woodline Partners LP lifted its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 68.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 212,303 shares of the biopharmaceutical company's stock after acquiring an additional 86,102 shares during the quarter. Woodline Partners LP owned 0.18% of Cytokinetics worth $8,532,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CYTK. Fifth Third Bancorp increased its holdings in Cytokinetics by 42.2% in the first quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company's stock valued at $39,000 after buying an additional 291 shares during the last quarter. Parallel Advisors LLC increased its holdings in Cytokinetics by 500.5% in the first quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company's stock valued at $44,000 after buying an additional 916 shares during the last quarter. GAMMA Investing LLC increased its holdings in Cytokinetics by 281.0% in the first quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company's stock valued at $45,000 after buying an additional 826 shares during the last quarter. UMB Bank n.a. increased its holdings in Cytokinetics by 91.4% in the first quarter. UMB Bank n.a. now owns 1,156 shares of the biopharmaceutical company's stock valued at $46,000 after buying an additional 552 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in Cytokinetics by 11,510.0% in the first quarter. Assetmark Inc. now owns 1,161 shares of the biopharmaceutical company's stock valued at $47,000 after buying an additional 1,151 shares during the last quarter.

Insider Transactions at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $51.29, for a total transaction of $102,580.00. Following the completion of the sale, the executive vice president owned 140,610 shares in the company, valued at approximately $7,211,886.90. This represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $36.45, for a total transaction of $182,250.00. Following the sale, the chief executive officer owned 388,108 shares of the company's stock, valued at $14,146,536.60. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,756 shares of company stock worth $1,274,140. Company insiders own 2.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. HC Wainwright reissued a "buy" rating on shares of Cytokinetics in a report on Tuesday, September 2nd. Needham & Company LLC reissued a "buy" rating and issued a $72.00 target price on shares of Cytokinetics in a report on Tuesday, September 2nd. Wall Street Zen raised Cytokinetics from a "strong sell" rating to a "hold" rating in a report on Sunday, August 10th. Stifel Nicolaus raised their price objective on Cytokinetics from $87.00 to $96.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Finally, Barclays raised their price objective on Cytokinetics from $53.00 to $71.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $75.38.

Cytokinetics Stock Performance

Shares of CYTK stock opened at $53.32 on Friday. The stock's 50-day moving average is $39.10 and its two-hundred day moving average is $37.89. The firm has a market cap of $6.38 billion, a price-to-earnings ratio of -10.45 and a beta of 0.62. Cytokinetics, Incorporated has a 1 year low of $29.31 and a 1 year high of $59.39.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.12) earnings per share for the quarter, topping the consensus estimate of ($1.34) by $0.22. The business had revenue of $66.77 million for the quarter, compared to analyst estimates of $1.95 million. During the same quarter last year, the company posted ($1.31) EPS. Cytokinetics's quarterly revenue was up 26727.3% on a year-over-year basis. As a group, research analysts predict 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.

Want to see what other hedge funds are holding CYTK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.