Fifth Lane Capital LP Boosts Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Fifth Lane Capital LP boosted its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 50.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,000 shares of the biopharmaceutical company’s stock after purchasing an additional 2,000 shares during the period. Cytokinetics makes up 0.8% of Fifth Lane Capital LP’s portfolio, making the stock its 18th largest position. Fifth Lane Capital LP’s holdings in Cytokinetics were worth $282,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CYTK. Jones Financial Companies Lllp raised its holdings in shares of Cytokinetics by 189.8% in the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 374 shares during the period. Centricity Wealth Management LLC bought a new position in Cytokinetics during the fourth quarter valued at $29,000. AlphaQuest LLC increased its position in Cytokinetics by 113,500.0% in the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 1,135 shares during the last quarter. J.Safra Asset Management Corp raised its stake in shares of Cytokinetics by 62.1% in the fourth quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company’s stock valued at $83,000 after buying an additional 671 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Cytokinetics by 85.8% during the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company’s stock valued at $86,000 after buying an additional 842 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CYTK. Evercore ISI raised Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. JMP Securities reissued a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research report on Thursday, April 10th. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a report on Monday, April 21st. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a research note on Tuesday, April 8th. Finally, Morgan Stanley set a $67.00 target price on Cytokinetics in a research report on Friday, March 7th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.13.

Insider Buying and Selling at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $48.06, for a total transaction of $96,120.00. Following the transaction, the executive vice president now directly owns 116,071 shares in the company, valued at approximately $5,578,372.26. This represents a 1.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew Callos sold 3,341 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $43.27, for a total value of $144,565.07. Following the completion of the sale, the executive vice president now owns 64,434 shares of the company’s stock, valued at $2,788,059.18. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,360 shares of company stock worth $3,848,445 over the last three months. 3.40% of the stock is owned by insiders.

Cytokinetics Price Performance

NASDAQ:CYTK opened at $42.84 on Thursday. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of -7.96 and a beta of 0.94. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The stock has a fifty day moving average of $41.64 and a 200 day moving average of $46.94. Cytokinetics, Incorporated has a 52-week low of $32.74 and a 52-week high of $68.44.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.03. The business had revenue of $16.93 million for the quarter, compared to the consensus estimate of $14.26 million. On average, research analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

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.