Cytokinetics, Incorporated (NASDAQ:CYTK) Position Increased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lifted its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 138.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 42,526 shares of the biopharmaceutical company’s stock after buying an additional 24,712 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Cytokinetics were worth $2,245,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Entropy Technologies LP lifted its holdings in Cytokinetics by 110.6% in the first quarter. Entropy Technologies LP now owns 19,433 shares of the biopharmaceutical company’s stock worth $1,362,000 after acquiring an additional 10,205 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Cytokinetics during the 1st quarter valued at approximately $4,703,000. Westfield Capital Management Co. LP bought a new position in Cytokinetics during the 1st quarter worth $51,277,000. Ghisallo Capital Management LLC acquired a new stake in Cytokinetics in the second quarter worth $10,619,000. Finally, Castleark Management LLC bought a new stake in Cytokinetics in the first quarter valued at $1,471,000.

Cytokinetics Stock Performance

Shares of CYTK opened at $51.48 on Tuesday. The company has a debt-to-equity ratio of 5.93, a current ratio of 10.39 and a quick ratio of 10.39. The firm’s 50 day moving average is $54.29 and its 200-day moving average is $55.91. Cytokinetics, Incorporated has a 12-month low of $30.68 and a 12-month high of $110.25. The stock has a market capitalization of $6.06 billion, a P/E ratio of -9.59 and a beta of 0.78.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The business had revenue of $0.25 million during the quarter, compared to the consensus estimate of $7.61 million. The business’s quarterly revenue was down 71.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.34) earnings per share. Equities research analysts anticipate that Cytokinetics, Incorporated will post -5.15 EPS for the current fiscal year.

Insider Transactions at Cytokinetics

In related news, CEO Robert I. Blum sold 11,500 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $55.17, for a total value of $634,455.00. Following the completion of the transaction, the chief executive officer now owns 399,412 shares in the company, valued at $22,035,560.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Wendall Wierenga sold 4,452 shares of the stock in a transaction on 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 sale, the director now owns 24,559 shares in the company, valued at $1,283,207.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert I. Blum sold 11,500 shares of Cytokinetics stock in a transaction on Monday, August 12th. The shares were sold at an average price of $55.17, for a total value of $634,455.00. Following the transaction, the chief executive officer now owns 399,412 shares in the company, valued at $22,035,560.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,236 shares of company stock valued at $3,800,944 over the last three months. Company insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CYTK. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. HC Wainwright restated a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research note on Thursday, October 17th. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised their target price on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Finally, The Goldman Sachs Group lowered 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 research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Cytokinetics has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

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.