Orbimed Advisors LLC Acquires 817,099 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Orbimed Advisors LLC grew its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 106.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,584,005 shares of the biopharmaceutical company's stock after purchasing an additional 817,099 shares during the period. Cytokinetics comprises about 1.6% of Orbimed Advisors LLC's holdings, making the stock its 21st largest holding. Orbimed Advisors LLC owned approximately 1.34% of Cytokinetics worth $74,512,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CYTK. Jones Financial Companies Lllp increased its holdings in shares of Cytokinetics by 189.8% in the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 374 shares during the period. Centricity Wealth Management LLC purchased a new position in shares of Cytokinetics in the fourth quarter worth about $29,000. AlphaQuest LLC increased its holdings 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 during the period. J.Safra Asset Management Corp increased its holdings in shares of Cytokinetics by 62.1% in the fourth quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company's stock worth $83,000 after buying an additional 671 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Cytokinetics by 85.8% in the fourth quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company's stock worth $86,000 after buying an additional 842 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CYTK shares. HC Wainwright reiterated a "buy" rating and issued a $120.00 price objective on shares of Cytokinetics in a report on Monday, April 21st. Cantor Fitzgerald upgraded Cytokinetics to a "strong-buy" rating in a report on Tuesday, May 13th. UBS Group reduced their price target on Cytokinetics from $47.00 to $41.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Bank of America reduced their price target on Cytokinetics from $62.00 to $54.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Finally, JMP Securities restated a "market outperform" rating and set a $78.00 price target on shares of Cytokinetics in a report on Thursday, April 10th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $74.44.

Insider Buying and Selling at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 2,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were 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 represents a 1.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrew Callos sold 3,341 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $43.27, for a total transaction of $144,565.07. Following the sale, the executive vice president now directly owns 64,434 shares of the company's stock, valued at $2,788,059.18. The trade was a 4.93% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,816 shares of company stock worth $3,942,345. Company insiders own 2.70% of the company's stock.

Cytokinetics Stock Up 3.9%

Cytokinetics stock traded up $1.16 during mid-day trading on Friday, reaching $31.00. The stock had a trading volume of 2,128,530 shares, compared to its average volume of 1,680,992. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of -5.76 and a beta of 0.81. The company has a 50-day moving average price of $38.88 and a two-hundred day moving average price of $45.23. Cytokinetics, Incorporated has a one year low of $29.31 and a one year high of $61.40. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.41) by $0.05. The company had revenue of $1.60 million for the quarter, compared to the consensus estimate of $2.77 million. Cytokinetics's revenue was up 89.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.33) EPS. On average, analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

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.