Cytokinetics, Incorporated (NASDAQ:CYTK) is Melqart Asset Management UK Ltd's 4th Largest Position

Melqart Asset Management UK Ltd trimmed its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,136,434 shares of the biopharmaceutical company's stock after selling 75,824 shares during the period. Cytokinetics comprises about 6.5% of Melqart Asset Management UK Ltd's investment portfolio, making the stock its 4th biggest position. Melqart Asset Management UK Ltd owned about 0.96% of Cytokinetics worth $53,458,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Retirement Systems of Alabama lifted its stake in Cytokinetics by 1.0% in the 3rd quarter. Retirement Systems of Alabama now owns 142,930 shares of the biopharmaceutical company's stock worth $7,547,000 after purchasing an additional 1,414 shares in the last quarter. Exome Asset Management LLC purchased a new stake in shares of Cytokinetics in the third quarter worth about $3,093,000. Harbor Capital Advisors Inc. grew its holdings in Cytokinetics by 6.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 45,130 shares of the biopharmaceutical company's stock valued at $2,123,000 after purchasing an additional 2,604 shares during the last quarter. Mirador Capital Partners LP raised its position in Cytokinetics by 1.6% in the 4th quarter. Mirador Capital Partners LP now owns 65,636 shares of the biopharmaceutical company's stock worth $3,088,000 after purchasing an additional 1,010 shares during the period. Finally, Inspire Investing LLC lifted its stake in Cytokinetics by 7.8% in the fourth quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company's stock worth $400,000 after purchasing an additional 616 shares during the last quarter.

Cytokinetics Stock Performance

Shares of NASDAQ:CYTK traded down $5.10 during midday trading on Friday, reaching $37.82. The company's stock had a trading volume of 7,265,555 shares, compared to its average volume of 1,630,530. The firm has a market capitalization of $4.51 billion, a PE ratio of -7.04 and a beta of 0.94. The stock has a fifty day moving average of $41.54 and a 200 day moving average of $46.86. Cytokinetics, Incorporated has a twelve month low of $32.74 and a twelve month high of $68.44. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.29) by $0.03. The company had revenue of $16.93 million during the quarter, compared to analyst estimates of $14.26 million. On average, equities analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Analysts Set New Price Targets

CYTK has been the subject of a number of research reports. Citigroup assumed coverage on Cytokinetics in a report on Friday, February 7th. They issued a "buy" rating and a $86.00 price target for the company. Barclays initiated coverage on Cytokinetics in a research note on Thursday, April 24th. They set an "overweight" rating and a $55.00 price target on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $78.00 price objective on shares of Cytokinetics in a research note on Thursday, April 10th. Bank of America dropped their target price on Cytokinetics from $62.00 to $54.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $72.00 price objective on shares of Cytokinetics in a research report on Friday. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $79.13.

Insider Buying and Selling

In related news, EVP Andrew Callos sold 3,341 shares of Cytokinetics stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $43.27, for a total value of $144,565.07. Following the completion of the transaction, the executive vice president now owns 64,434 shares in the company, valued at $2,788,059.18. The trade was a 4.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of the company's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $40.96, for a total value of $204,800.00. Following the completion of the transaction, the chief executive officer now directly owns 417,629 shares of the company's stock, valued at $17,106,083.84. The trade was a 1.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,360 shares of company stock valued at $3,848,445. Corporate insiders own 3.40% of the company's stock.

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.