Susquehanna Fundamental Investments LLC Takes Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Susquehanna Fundamental Investments LLC acquired a new stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 131,799 shares of the biopharmaceutical company's stock, valued at approximately $6,200,000. Susquehanna Fundamental Investments LLC owned about 0.11% of Cytokinetics as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Retirement Systems of Alabama lifted its stake in Cytokinetics by 1.0% in the third 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 during the last quarter. Exome Asset Management LLC purchased a new position in Cytokinetics during the 3rd quarter valued at $3,093,000. Harbor Capital Advisors Inc. grew its position in Cytokinetics by 6.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 45,130 shares of the biopharmaceutical company's stock valued at $2,123,000 after acquiring an additional 2,604 shares during the last quarter. Mirador Capital Partners LP increased its stake in Cytokinetics by 1.6% in the fourth 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 position in shares of Cytokinetics by 7.8% during 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.

Insider Transactions at Cytokinetics

In related news, EVP Andrew Callos sold 3,341 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $43.27, for a total transaction of $144,565.07. Following the completion of the transaction, the executive vice president now owns 64,434 shares of the company's stock, valued at $2,788,059.18. This trade represents a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert I. Blum sold 16,970 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $43.44, for a total transaction of $737,176.80. Following the completion of the sale, the chief executive officer now directly owns 364,181 shares in the company, valued at approximately $15,820,022.64. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,360 shares of company stock worth $3,848,445 over the last three months. 3.40% of the stock is currently owned by insiders.

Cytokinetics Stock Performance

Cytokinetics stock traded down $5.57 during mid-day trading on Friday, reaching $37.35. 9,030,343 shares of the company traded hands, compared to its average volume of 1,636,731. The firm's fifty day moving average is $41.54 and its two-hundred day moving average is $46.86. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of -6.94 and a beta of 0.94. Cytokinetics, Incorporated has a fifty-two week low of $32.74 and a fifty-two week high of $68.44. 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 released its earnings results 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 firm had revenue of $16.93 million during the quarter, compared to analyst estimates of $14.26 million. On average, equities research analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.