Ellington Management Group LLC acquired a new stake in Cytokinetics, Inc. (NASDAQ:CYTK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 15,700 shares of the biopharmaceutical company’s stock, valued at approximately $128,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Piedmont Investment Advisors LLC purchased a new stake in Cytokinetics in the 3rd quarter valued at about $159,000. GSA Capital Partners LLP purchased a new stake in Cytokinetics in the 3rd quarter valued at about $187,000. Virtu Financial LLC purchased a new stake in Cytokinetics in the 4th quarter valued at about $112,000. Teacher Retirement System of Texas purchased a new stake in Cytokinetics in the 4th quarter valued at about $113,000. Finally, Cornerstone Capital Management Holdings LLC. purchased a new stake in Cytokinetics in the 3rd quarter valued at about $216,000. Hedge funds and other institutional investors own 71.41% of the company’s stock.
Shares of Cytokinetics stock opened at $8.50 on Thursday. The company has a quick ratio of 8.46, a current ratio of 8.46 and a debt-to-equity ratio of 0.29. Cytokinetics, Inc. has a one year low of $7.00 and a one year high of $17.20.
Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.71) by ($0.04). The business had revenue of ($0.02) million for the quarter, compared to analysts’ expectations of $4.83 million. Cytokinetics had a negative return on equity of 96.95% and a negative net margin of 172.27%. sell-side analysts forecast that Cytokinetics, Inc. will post -1.81 earnings per share for the current year.
CYTK has been the topic of several research analyst reports. Cowen restated a “buy” rating and issued a $11.00 price objective on shares of Cytokinetics in a report on Tuesday, February 20th. Needham & Company LLC lowered shares of Cytokinetics from a “strong-buy” rating to a “buy” rating and reduced their price objective for the company from $22.00 to $12.00 in a report on Wednesday, November 29th. HC Wainwright set a $20.00 price objective on shares of Cytokinetics and gave the company a “buy” rating in a report on Friday, January 19th. Cantor Fitzgerald restated a “hold” rating and issued a $10.00 price objective on shares of Cytokinetics in a report on Wednesday, January 17th. Finally, Morgan Stanley boosted their price objective on shares of Cytokinetics from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. Cytokinetics has an average rating of “Buy” and a consensus price target of $16.60.
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Cytokinetics, Incorporated is a late-stage biopharmaceutical company. The Company is focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions.
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