Hudson Bay Capital Management LP Raises Stake in Cytokinetics, Incorporated $CYTK

Hudson Bay Capital Management LP lifted its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 7.1% during the second quarter, HoldingsChannel reports. The firm owned 157,786 shares of the biopharmaceutical company’s stock after purchasing an additional 10,523 shares during the period. Hudson Bay Capital Management LP’s holdings in Cytokinetics were worth $5,213,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its position in Cytokinetics by 723.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 673 shares during the period. Hantz Financial Services Inc. boosted its holdings in shares of Cytokinetics by 2,872.7% in the second quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 1,264 shares during the period. UMB Bank n.a. grew its stake in Cytokinetics by 37.8% in the second quarter. UMB Bank n.a. now owns 1,593 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 437 shares in the last quarter. Assetmark Inc. increased its holdings in Cytokinetics by 127.6% during the 2nd quarter. Assetmark Inc. now owns 2,642 shares of the biopharmaceutical company’s stock worth $87,000 after purchasing an additional 1,481 shares during the period. Finally, US Bancorp DE raised its position in Cytokinetics by 38.7% during the 1st quarter. US Bancorp DE now owns 2,410 shares of the biopharmaceutical company’s stock valued at $97,000 after purchasing an additional 672 shares in the last quarter.

Insider Buying and Selling at Cytokinetics

In related news, Director Robert Arthur Harrington sold 2,150 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $66.80, for a total value of $143,620.00. Following the completion of the transaction, the director owned 18,542 shares in the company, valued at $1,238,605.60. This trade represents a 10.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Andrew Callos sold 1,042 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $65.96, for a total value of $68,730.32. Following the sale, the executive vice president owned 50,660 shares in the company, valued at approximately $3,341,533.60. The trade was a 2.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 148,294 shares of company stock valued at $9,452,050. Company insiders own 2.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. JMP Securities reissued a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a research report on Tuesday, September 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytokinetics in a report on Wednesday, October 8th. Bank of America raised their target price on shares of Cytokinetics from $52.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, October 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research report on Tuesday, October 21st. Finally, Stifel Nicolaus lifted their price objective on shares of Cytokinetics from $87.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Cytokinetics currently has an average rating of “Moderate Buy” and an average target price of $79.29.

Cytokinetics Stock Performance

Shares of CYTK stock opened at $62.16 on Tuesday. Cytokinetics, Incorporated has a fifty-two week low of $29.31 and a fifty-two week high of $69.33. The firm has a market capitalization of $7.60 billion, a price-to-earnings ratio of -9.88 and a beta of 0.58. The stock’s 50-day simple moving average is $62.60 and its 200-day simple moving average is $47.80.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) EPS for the quarter, topping analysts’ consensus estimates of ($1.59) by $0.05. The company had revenue of $1.94 million during the quarter, compared to analyst estimates of $6.05 million. The firm’s revenue for the quarter was up 318.1% on a year-over-year basis. During the same quarter last year, the business earned ($1.36) earnings per share. As a group, equities analysts forecast 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.