Integral Health Asset Management LLC Buys 250,000 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Integral Health Asset Management LLC raised its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 33.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,000,000 shares of the biopharmaceutical company's stock after purchasing an additional 250,000 shares during the quarter. Cytokinetics accounts for 4.0% of Integral Health Asset Management LLC's investment portfolio, making the stock its 5th largest position. Integral Health Asset Management LLC owned approximately 0.85% of Cytokinetics worth $47,040,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Harvey Capital Management Inc. bought a new position in shares of Cytokinetics in the 4th quarter worth $1,040,000. Raymond James Financial Inc. bought a new stake in shares of Cytokinetics during the 4th quarter valued at $254,000. abrdn plc raised its stake in Cytokinetics by 29.4% during the fourth quarter. abrdn plc now owns 450,513 shares of the biopharmaceutical company's stock valued at $21,192,000 after buying an additional 102,457 shares during the last quarter. AlphaQuest LLC lifted its stake in shares of Cytokinetics by 113,500.0% in the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock worth $53,000 after buying an additional 1,135 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Cytokinetics by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company's stock valued at $560,520,000 after buying an additional 154,216 shares during the last quarter.

Wall Street Analyst Weigh In

CYTK has been the subject of a number of recent research reports. Citigroup cut their price objective on Cytokinetics from $86.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Morgan Stanley set a $67.00 price target on shares of Cytokinetics in a report on Friday, March 7th. Cantor Fitzgerald upgraded Cytokinetics to a "strong-buy" rating in a report on Tuesday. Stifel Nicolaus assumed coverage on Cytokinetics in a research note on Wednesday, January 22nd. They set a "buy" rating and a $80.00 price objective for the company. Finally, Royal Bank of Canada cut their price objective 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, thirteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $74.44.

Insider Buying and Selling at Cytokinetics

In related news, EVP Andrew Callos sold 2,886 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $35.78, for a total transaction of $103,261.08. Following the completion of the sale, the executive vice president now directly owns 64,689 shares of the company's stock, valued at $2,314,572.42. This trade represents a 4.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Fady Ibraham Malik sold 2,000 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $45.98, for a total transaction of $91,960.00. Following the completion of the sale, the executive vice president now owns 116,071 shares of the company's stock, valued at $5,336,944.58. This trade represents a 1.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,362 shares of company stock worth $3,899,118 over the last three months. Insiders own 2.70% of the company's stock.

Cytokinetics Stock Down 0.5%

NASDAQ:CYTK traded down $0.16 during mid-day trading on Thursday, hitting $29.84. The stock had a trading volume of 2,309,392 shares, compared to its average volume of 1,671,917. Cytokinetics, Incorporated has a twelve month low of $29.32 and a twelve month high of $61.40. The stock has a 50-day simple moving average of $39.42 and a two-hundred day simple moving average of $45.57. 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 company has a market capitalization of $3.56 billion, a PE ratio of -5.55 and a beta of 0.81.

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

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.