FORA Capital LLC Takes Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

FORA Capital LLC acquired a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,503 shares of the biopharmaceutical company’s stock, valued at approximately $238,000.

Other hedge funds also recently bought and sold shares of the company. Darwin Global Management Ltd. bought a new stake in shares of Cytokinetics during the 2nd quarter worth $246,074,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Cytokinetics by 42.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock worth $69,769,000 after buying an additional 395,709 shares during the period. Westfield Capital Management Co. LP increased its holdings in shares of Cytokinetics by 38.9% in the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock worth $64,040,000 after buying an additional 339,373 shares during the period. Integral Health Asset Management LLC increased its holdings in shares of Cytokinetics by 122.2% in the second quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $54,180,000 after buying an additional 550,000 shares during the period. Finally, Hood River Capital Management LLC increased its holdings in shares of Cytokinetics by 5.9% in the second quarter. Hood River Capital Management LLC now owns 737,637 shares of the biopharmaceutical company’s stock worth $39,965,000 after buying an additional 40,990 shares during the period.

Cytokinetics Price Performance

NASDAQ:CYTK opened at $51.86 on Friday. The stock has a market cap of $6.12 billion, a PE ratio of -9.64 and a beta of 0.78. The business’s 50-day simple moving average is $53.25 and its two-hundred day simple moving average is $54.46. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 52 week low of $32.35 and a 52 week high of $110.25.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The firm had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $1.21 million. The firm’s quarterly revenue was up 22.5% on a year-over-year basis. During the same period last year, the firm posted ($1.35) EPS. As a group, analysts forecast that Cytokinetics, Incorporated will post -5.25 EPS for the current fiscal year.

Insider Buying and Selling

In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $50.55, for a total transaction of $252,750.00. Following the completion of the transaction, the chief executive officer now owns 397,456 shares in the company, valued at $20,091,400.80. The trade was a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $50.16, for a total transaction of $366,168.00. Following the sale, the executive vice president now directly owns 111,878 shares of the company’s stock, valued at $5,611,800.48. This represents a 6.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,378 shares of company stock worth $3,880,287. Corporate insiders own 3.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CYTK. Mizuho lifted their price objective on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a research report on Wednesday, September 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research report on Wednesday, November 20th. HC Wainwright reaffirmed a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a research report on Monday, November 18th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

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.