Castleark Management LLC Takes Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Castleark Management LLC bought a new position in Cytokinetics, Incorporated (NASDAQ:CYTK) in the 1st quarter, Holdings Channel.com reports. The firm bought 20,980 shares of the biopharmaceutical company’s stock, valued at approximately $1,471,000.

A number of other large investors also recently modified their holdings of CYTK. Fifth Third Bancorp boosted its holdings in shares of Cytokinetics by 94.1% during the first quarter. Fifth Third Bancorp now owns 656 shares of the biopharmaceutical company’s stock worth $46,000 after purchasing an additional 318 shares during the period. GAMMA Investing LLC purchased a new position in Cytokinetics in the fourth quarter worth about $80,000. EntryPoint Capital LLC purchased a new position in shares of Cytokinetics in the first quarter worth $74,000. Bessemer Group Inc. raised its stake in Cytokinetics by 25,100.0% during the 1st quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 1,255 shares during the last quarter. Finally, Sage Rhino Capital LLC bought a new stake in shares of Cytokinetics during the 4th quarter valued at about $204,000.

Insider Transactions at Cytokinetics

In other news, Director B Lynne Parshall sold 5,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $52.55, for a total value of $262,750.00. Following the sale, the director now owns 20,600 shares of the company’s stock, valued at $1,082,530. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director B Lynne Parshall sold 5,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $52.55, for a total value of $262,750.00. Following the completion of the sale, the director now owns 20,600 shares of the company’s stock, valued at $1,082,530. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Fady Ibraham Malik sold 15,547 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $65.11, for a total transaction of $1,012,265.17. Following the sale, the executive vice president now directly owns 137,056 shares of the company’s stock, valued at approximately $8,923,716.16. The disclosure for this sale can be found here. Insiders sold a total of 161,579 shares of company stock worth $8,797,418 in the last quarter. 3.40% of the stock is owned by company insiders.

Cytokinetics Stock Down 0.8 %

Cytokinetics stock traded down $0.48 during trading hours on Thursday, hitting $58.53. The company had a trading volume of 295,432 shares, compared to its average volume of 2,487,552. The firm’s fifty day moving average is $53.95 and its 200-day moving average is $65.19. Cytokinetics, Incorporated has a fifty-two week low of $25.98 and a fifty-two week high of $110.25.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.17). The business had revenue of $0.84 million for the quarter, compared to analysts’ expectations of $0.91 million. Cytokinetics’s revenue for the quarter was down 81.8% on a year-over-year basis. During the same period in the previous year, the business posted ($1.38) earnings per share. On average, research analysts predict that Cytokinetics, Incorporated will post -4.5 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on CYTK. JPMorgan Chase & Co. dropped their price target on Cytokinetics from $77.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. JMP Securities cut their price target on shares of Cytokinetics from $106.00 to $78.00 and set a “market outperform” rating on the stock in a report on Tuesday, May 28th. Oppenheimer reduced their price target on shares of Cytokinetics from $107.00 to $106.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. Barclays reduced 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. Finally, B. Riley dropped their price objective on shares of Cytokinetics from $122.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Cytokinetics currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.06.

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.