Tower Research Capital LLC TRC Purchases 7,864 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Tower Research Capital LLC TRC increased its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 86.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,920 shares of the biopharmaceutical company's stock after buying an additional 7,864 shares during the quarter. Tower Research Capital LLC TRC's holdings in Cytokinetics were worth $796,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Jones Financial Companies Lllp grew its stake in Cytokinetics by 189.8% in the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 374 shares during the period. Centricity Wealth Management LLC bought a new stake in Cytokinetics in the fourth quarter worth about $29,000. AlphaQuest LLC grew its position in shares of Cytokinetics by 113,500.0% during the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock valued at $53,000 after acquiring an additional 1,135 shares during the period. J.Safra Asset Management Corp raised its holdings in shares of Cytokinetics by 62.1% in the 4th quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company's stock worth $83,000 after purchasing an additional 671 shares during the period. Finally, Blue Trust Inc. grew its holdings in Cytokinetics by 85.8% during the fourth quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company's stock valued at $86,000 after purchasing an additional 842 shares during the period.

Analyst Ratings Changes

CYTK has been the subject of several recent research reports. Stifel Nicolaus initiated coverage on Cytokinetics in a report on Wednesday, January 22nd. They issued a "buy" rating and a $80.00 price objective for the company. Bank of America dropped their price target on shares of Cytokinetics from $62.00 to $54.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Needham & Company LLC restated a "buy" rating and set a $72.00 target price on shares of Cytokinetics in a research report on Friday. JMP Securities reaffirmed a "market outperform" rating and set a $78.00 target price on shares of Cytokinetics in a report on Thursday, April 10th. Finally, HC Wainwright reissued a "buy" rating and issued a $120.00 price target on shares of Cytokinetics in a report on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $79.13.

Cytokinetics Trading Down 14.3 %

Shares of CYTK stock traded down $6.12 during mid-day trading on Friday, reaching $36.80. The stock had a trading volume of 5,704,480 shares, compared to its average volume of 1,624,654. The stock's 50-day moving average price is $41.54 and its two-hundred day moving average price is $46.86. The firm has a market capitalization of $4.39 billion, a PE ratio of -6.84 and a beta of 0.94. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 52-week low of $32.74 and a 52-week high of $68.44.

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

Insider Buying and Selling

In related news, EVP Andrew Callos sold 3,341 shares of the stock in a transaction dated Thursday, March 6th. The shares were 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 directly owns 64,434 shares in the company, valued at $2,788,059.18. This trade represents a 4.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert I. Blum sold 16,970 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was 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 owns 364,181 shares in the company, valued at approximately $15,820,022.64. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,360 shares of company stock valued at $3,848,445 over the last ninety days. Company insiders own 3.40% of the company's stock.

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.