Headlands Technologies LLC Makes New $877,000 Investment in Cytokinetics, Incorporated (NASDAQ:CYTK)

Headlands Technologies LLC purchased a new position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) in the 4th quarter, Holdings Channel reports. The firm purchased 10,508 shares of the biopharmaceutical company’s stock, valued at approximately $877,000.

Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Cytokinetics during the third quarter worth $718,000. Peregrine Capital Management LLC lifted its stake in shares of Cytokinetics by 13.2% in the 3rd quarter. Peregrine Capital Management LLC now owns 204,664 shares of the biopharmaceutical company’s stock valued at $6,029,000 after purchasing an additional 23,936 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Cytokinetics by 11.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,580 shares of the biopharmaceutical company’s stock valued at $518,000 after purchasing an additional 1,815 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Cytokinetics by 0.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,684 shares of the biopharmaceutical company’s stock worth $1,523,000 after purchasing an additional 359 shares during the period. Finally, Inspire Investing LLC lifted its stake in Cytokinetics by 7.8% in the third quarter. Inspire Investing LLC now owns 10,364 shares of the biopharmaceutical company’s stock valued at $305,000 after buying an additional 753 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have commented on CYTK shares. UBS Group cut shares of Cytokinetics from a “buy” rating to a “neutral” rating and raised their price target for the stock from $61.00 to $92.00 in a report on Wednesday, January 24th. Needham & Company LLC restated a “buy” rating and issued a $108.00 target price on shares of Cytokinetics in a report on Tuesday, April 9th. Truist Financial reissued a “buy” rating and set a $86.00 price objective on shares of Cytokinetics in a report on Monday, April 8th. Mizuho dropped their target price on Cytokinetics from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, March 6th. Finally, HC Wainwright reiterated a “buy” rating and set a $94.00 price target on shares of Cytokinetics in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $79.33.

Cytokinetics Price Performance

NASDAQ:CYTK traded up $0.54 on Friday, reaching $65.34. 738,059 shares of the company’s stock were exchanged, compared to its average volume of 1,009,851. The stock has a fifty day simple moving average of $69.91 and a 200-day simple moving average of $59.82. Cytokinetics, Incorporated has a 52 week low of $25.98 and a 52 week high of $110.25.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.35). The company had revenue of $1.70 million for the quarter, compared to analyst estimates of $7.62 million. During the same period last year, the company earned ($1.45) EPS. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. Equities analysts forecast that Cytokinetics, Incorporated will post -4.5 EPS for the current year.

Insider Activity at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 32,605 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $79.30, for a total value of $2,585,576.50. Following the completion of the transaction, the executive vice president now owns 142,973 shares in the company, valued at approximately $11,337,758.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Robert I. Blum sold 12,500 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $79.57, for a total transaction of $994,625.00. Following the completion of the transaction, the chief executive officer now directly owns 441,797 shares in the company, valued at $35,153,787.29. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Fady Ibraham Malik sold 32,605 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $79.30, for a total value of $2,585,576.50. Following the completion of the transaction, the executive vice president now owns 142,973 shares in the company, valued at $11,337,758.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,876 shares of company stock worth $9,269,877. 3.40% of the stock is owned by company insiders.

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.