AlphaCentric Advisors LLC Acquires New Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

AlphaCentric Advisors LLC bought a new position in Cytokinetics, Incorporated (NASDAQ:CYTK) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,500 shares of the biopharmaceutical company’s stock, valued at approximately $660,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp raised its position in Cytokinetics by 642.3% during the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 456 shares in the last quarter. UMB Bank n.a. lifted its stake in Cytokinetics by 65.6% during the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 238 shares during the period. Blue Trust Inc. raised its stake in Cytokinetics by 225.9% during the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 680 shares in the last quarter. Values First Advisors Inc. bought a new stake in Cytokinetics during the 3rd quarter worth approximately $54,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Cytokinetics during the first quarter worth approximately $74,000.

Insider Buying and Selling at Cytokinetics

In related news, Director Wendall Wierenga sold 4,452 shares of Cytokinetics stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $52.25, for a total transaction of $232,617.00. Following the sale, the director now owns 24,559 shares of the company’s stock, valued at approximately $1,283,207.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Wendall Wierenga sold 4,452 shares of Cytokinetics stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $52.25, for a total value of $232,617.00. Following the completion of the transaction, the director now owns 24,559 shares in the company, valued at approximately $1,283,207.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director B Lynne Parshall sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $55.20, for a total value of $276,000.00. Following the sale, the director now owns 20,600 shares in the company, valued at approximately $1,137,120. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,236 shares of company stock valued at $3,800,944. Company insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CYTK shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. The Goldman Sachs Group cut Cytokinetics from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $85.00 to $60.00 in a report on Tuesday, August 13th. JPMorgan Chase & Co. increased their price target on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a research report on Thursday, October 17th. Finally, Needham & Company LLC restated a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.93.

Cytokinetics Stock Performance

Shares of NASDAQ CYTK opened at $51.48 on Tuesday. Cytokinetics, Incorporated has a 52-week low of $30.68 and a 52-week high of $110.25. The company has a quick ratio of 10.39, a current ratio of 10.39 and a debt-to-equity ratio of 5.93. The firm’s 50-day moving average price is $54.29 and its 200-day moving average price is $55.91.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The business had revenue of $0.25 million for the quarter, compared to analyst estimates of $7.61 million. The company’s revenue for the quarter was down 71.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.34) EPS. As a group, equities analysts predict that Cytokinetics, Incorporated will post -5.15 earnings per share for the current year.

Cytokinetics Company 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.