Virtu Financial LLC Purchases Shares of 46,768 Cytokinetics, Incorporated (NASDAQ:CYTK)

Virtu Financial LLC acquired a new position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 46,768 shares of the biopharmaceutical company’s stock, valued at approximately $3,905,000.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in Cytokinetics during the 4th quarter worth $80,000. Sage Rhino Capital LLC bought a new position in Cytokinetics during the 4th quarter worth $204,000. Caprock Group LLC bought a new position in Cytokinetics during the 4th quarter worth $216,000. PNC Financial Services Group Inc. increased its position in Cytokinetics by 4.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,373 shares of the biopharmaceutical company’s stock worth $217,000 after buying an additional 340 shares during the period. Finally, Journey Strategic Wealth LLC bought a new position in Cytokinetics during the 4th quarter worth $243,000.

Cytokinetics Stock Up 2.3 %

Shares of CYTK stock traded up $1.22 on Friday, reaching $53.93. The company had a trading volume of 1,182,895 shares, compared to its average volume of 2,965,736. The stock has a market capitalization of $5.65 billion, a PE ratio of -9.99 and a beta of 0.74. Cytokinetics, Incorporated has a one year low of $25.98 and a one year high of $110.25. The business’s 50-day moving average is $60.35 and its 200 day moving average is $65.70.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.17). The company had revenue of $0.84 million for the quarter, compared to analyst estimates of $0.91 million. Cytokinetics’s revenue was down 81.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.38) EPS. On average, sell-side analysts forecast that Cytokinetics, Incorporated will post -4.55 earnings per share for the current fiscal year.

Insider Activity at Cytokinetics

In related news, CAO Robert Wong sold 13,011 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $48.88, for a total value of $635,977.68. Following the completion of the transaction, the chief accounting officer now owns 16,653 shares in the company, valued at approximately $813,998.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CAO Robert Wong sold 13,011 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $48.88, for a total value of $635,977.68. Following the completion of the transaction, the chief accounting officer now owns 16,653 shares in the company, valued at approximately $813,998.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Fady Ibraham Malik sold 7,788 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $53.04, for a total transaction of $413,075.52. Following the completion of the transaction, the executive vice president now owns 135,004 shares of the company’s stock, valued at approximately $7,160,612.16. The disclosure for this sale can be found here. Insiders sold a total of 105,593 shares of company stock worth $6,445,984 in the last quarter. 3.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on CYTK. Needham & Company LLC decreased their price target on Cytokinetics from $108.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. HC Wainwright decreased their price target on Cytokinetics from $94.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Barclays decreased their price target on Cytokinetics from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. B. Riley decreased their price target on Cytokinetics from $122.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. Finally, JMP Securities decreased their price target on Cytokinetics from $106.00 to $78.00 and set a “market outperform” rating on the stock in a research report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Cytokinetics currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.41.

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.