Algert Global LLC Grows Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

Algert Global LLC grew its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 20.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,680 shares of the biopharmaceutical company’s stock after buying an additional 10,010 shares during the quarter. Algert Global LLC’s holdings in Cytokinetics were worth $2,760,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp increased its position in Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 374 shares during the period. Centricity Wealth Management LLC bought a new position in Cytokinetics in the fourth quarter worth approximately $29,000. AlphaQuest LLC lifted its holdings in Cytokinetics by 113,500.0% during 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 period. J.Safra Asset Management Corp lifted its stake in shares of Cytokinetics by 62.1% during the 4th quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 671 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Cytokinetics by 85.8% in 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 in the last quarter.

Cytokinetics Stock Down 2.7 %

Cytokinetics stock opened at $33.04 on Thursday. 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 $32.30 and a 52 week high of $68.44. The business’s 50-day moving average price is $40.62 and its 200 day moving average price is $46.32. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of -6.14 and a beta of 0.81.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.41) by $0.05. The firm had revenue of $1.60 million during the quarter, compared to analyst estimates of $2.77 million. The business’s revenue for the quarter was up 89.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.33) earnings per share. As a group, sell-side analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Wall Street Analyst Weigh In

CYTK has been the topic of a number of recent analyst reports. Evercore ISI raised Cytokinetics to a “strong-buy” rating in a research report on Friday, February 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research report on Friday, May 2nd. Citigroup lowered their price target on Cytokinetics from $86.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday. Bank of America decreased their price objective on shares of Cytokinetics from $62.00 to $54.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Finally, JMP Securities reissued a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a research report on Thursday, April 10th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Cytokinetics has an average rating of “Moderate Buy” and a consensus target price of $76.41.

Insider Transactions at Cytokinetics

In other Cytokinetics news, EVP Andrew Callos sold 4,002 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $36.68, for a total transaction of $146,793.36. Following the transaction, the executive vice president now owns 60,687 shares in the company, valued at approximately $2,225,999.16. This represents a 6.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Fady Ibraham Malik sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $45.98, for a total value of $91,960.00. Following the completion of the sale, the executive vice president now directly owns 116,071 shares in the company, valued at approximately $5,336,944.58. The trade was a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 95,362 shares of company stock valued at $3,899,118 in the last ninety days. 2.70% of the stock is currently owned by corporate 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.