Altium Capital Management LP Has $1.67 Million Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Altium Capital Management LP reduced its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 18.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 84,262 shares of the biopharmaceutical company’s stock after selling 19,000 shares during the quarter. Altium Capital Management LP’s holdings in Cytokinetics were worth $1,668,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Affinity Asset Advisors LLC raised its holdings in Cytokinetics by 75.0% in the second quarter. Affinity Asset Advisors LLC now owns 70,000 shares of the biopharmaceutical company’s stock worth $1,385,000 after purchasing an additional 30,000 shares during the period. Integral Health Asset Management LLC raised its holdings in Cytokinetics by 100.0% in the second quarter. Integral Health Asset Management LLC now owns 1,400,000 shares of the biopharmaceutical company’s stock worth $27,706,000 after purchasing an additional 700,000 shares during the period. Jump Financial LLC raised its holdings in Cytokinetics by 37.7% in the second quarter. Jump Financial LLC now owns 17,352 shares of the biopharmaceutical company’s stock worth $343,000 after purchasing an additional 4,753 shares during the period. Ensign Peak Advisors Inc raised its holdings in Cytokinetics by 22.4% in the second quarter. Ensign Peak Advisors Inc now owns 202,555 shares of the biopharmaceutical company’s stock worth $4,009,000 after purchasing an additional 37,010 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Cytokinetics by 4.5% in the second quarter. Geode Capital Management LLC now owns 1,210,422 shares of the biopharmaceutical company’s stock worth $23,954,000 after purchasing an additional 52,294 shares during the period. Institutional investors and hedge funds own 90.54% of the company’s stock.

In other news, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction dated Thursday, August 12th. The shares were sold at an average price of $32.60, for a total value of $65,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Cragg sold 7,569 shares of Cytokinetics stock in a transaction dated Friday, October 1st. The shares were sold at an average price of $35.14, for a total transaction of $265,974.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,150 shares of company stock valued at $1,281,831. 5.70% of the stock is owned by insiders.

CYTK has been the topic of several analyst reports. Raymond James increased their target price on shares of Cytokinetics from $37.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, July 19th. HC Wainwright reiterated a “buy” rating and issued a $58.00 target price on shares of Cytokinetics in a report on Friday, October 8th. Morgan Stanley increased their target price on shares of Cytokinetics from $38.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, October 8th. Mizuho assumed coverage on shares of Cytokinetics in a report on Thursday, July 1st. They set a “buy” rating and a $36.00 price objective on the stock. Finally, Barclays raised their price objective on shares of Cytokinetics from $40.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, September 7th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Cytokinetics presently has a consensus rating of “Buy” and an average price target of $47.00.

Cytokinetics stock traded down $0.06 during mid-day trading on Thursday, reaching $37.92. The company’s stock had a trading volume of 25,654 shares, compared to its average volume of 1,189,246. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of -17.45 and a beta of 1.41. Cytokinetics, Incorporated has a 12 month low of $14.89 and a 12 month high of $39.46. The business’s 50 day simple moving average is $33.18 and its 200 day simple moving average is $27.03. The company has a debt-to-equity ratio of 7.76, a quick ratio of 5.90 and a current ratio of 5.90.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Thursday, August 5th. The biopharmaceutical company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.20). The business had revenue of $2.84 million during the quarter, compared to the consensus estimate of $5.68 million. Cytokinetics had a negative net margin of 269.48% and a negative return on equity of 179.39%. As a group, sell-side analysts expect that Cytokinetics, Incorporated will post -3.02 EPS for the current year.

About Cytokinetics

Cytokinetics, Inc operates as a biopharmaceutical company. The firm focuses on the discovery and development of muscle activators as potential treatment for debilitating diseases. It conducts a Phase 2 clinical trials program for tirasemtiv, including a Phase 2b clinical trial in patients with ALS, known as BENEFIT-ALS (Blinded Evaluation of Neuromuscular Effects and Functional Improvement with Tirasemtiv in ALS).

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Institutional Ownership by Quarter for Cytokinetics (NASDAQ:CYTK)

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