Point72 Asia Singapore Pte. Ltd. Acquires Shares of 1,849 Cytokinetics, Incorporated (NASDAQ:CYTK)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 1,849 shares of the biopharmaceutical company’s stock, valued at approximately $87,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its position in Cytokinetics by 28.6% in the 4th quarter. ProShare Advisors LLC now owns 43,299 shares of the biopharmaceutical company’s stock valued at $2,037,000 after buying an additional 9,620 shares during the last quarter. Orbimed Advisors LLC boosted its position in Cytokinetics by 106.5% in the 4th quarter. Orbimed Advisors LLC now owns 1,584,005 shares of the biopharmaceutical company’s stock valued at $74,512,000 after buying an additional 817,099 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Cytokinetics by 0.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,658 shares of the biopharmaceutical company’s stock valued at $3,372,000 after purchasing an additional 659 shares in the last quarter. Integral Health Asset Management LLC lifted its position in shares of Cytokinetics by 33.3% during the fourth quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $47,040,000 after purchasing an additional 250,000 shares during the last quarter. Finally, Hudson Bay Capital Management LP lifted its position in shares of Cytokinetics by 109.3% during the fourth quarter. Hudson Bay Capital Management LP now owns 141,269 shares of the biopharmaceutical company’s stock worth $6,645,000 after purchasing an additional 73,769 shares during the last quarter.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, EVP Andrew Callos sold 3,341 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $43.27, for a total value of $144,565.07. Following the sale, the executive vice president now owns 64,434 shares in the company, valued at approximately $2,788,059.18. This trade represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $91,960.00. Following the completion of the sale, the executive vice president now owns 116,071 shares in the company, valued at $5,336,944.58. The trade was a 1.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 96,816 shares of company stock worth $3,942,345. 2.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CYTK shares. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research report on Wednesday. Morgan Stanley set a $67.00 price target on shares of Cytokinetics in a research report on Friday, March 7th. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a research report on Thursday, April 10th. Bank of America reduced their price target on shares of Cytokinetics from $62.00 to $54.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Finally, Cantor Fitzgerald raised shares of Cytokinetics to a “strong-buy” rating in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $74.44.

Cytokinetics Price Performance

CYTK opened at $31.00 on Friday. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of -5.76 and a beta of 0.81. Cytokinetics, Incorporated has a fifty-two week low of $29.31 and a fifty-two week high of $61.40. The company’s 50-day moving average price is $38.88 and its 200 day moving average price is $45.23. 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 (NASDAQ:CYTK) last released its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, topping the consensus estimate of ($1.41) by $0.05. The business had revenue of $1.60 million for the quarter, compared to analyst estimates of $2.77 million. During the same quarter last year, the company earned ($1.33) EPS. Cytokinetics’s revenue was up 89.1% compared to the same quarter last year. As a group, sell-side analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Cytokinetics Company Profile

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.