Cytokinetics, Incorporated $CYTK Stock: Candriam S.C.A. Boosts Stake

Candriam S.C.A. grew its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 39.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 617,386 shares of the biopharmaceutical company’s stock after acquiring an additional 174,320 shares during the quarter. Candriam S.C.A. owned about 0.50% of Cytokinetics worth $40,841,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new stake in Cytokinetics during the second quarter valued at $36,000. Physician Wealth Advisors Inc. lifted its position in Cytokinetics by 810.2% during the third quarter. Physician Wealth Advisors Inc. now owns 446 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 397 shares during the last quarter. V Square Quantitative Management LLC lifted its position in Cytokinetics by 71.5% during the third quarter. V Square Quantitative Management LLC now owns 458 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 191 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in Cytokinetics by 842.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 641 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 573 shares during the last quarter. Finally, Manchester Capital Management LLC purchased a new position in shares of Cytokinetics in the 3rd quarter worth $43,000.

Cytokinetics Stock Performance

NASDAQ:CYTK opened at $53.69 on Friday. The stock’s fifty day moving average is $65.68 and its 200 day moving average is $69.97. Cytokinetics, Incorporated has a fifty-two week low of $53.55 and a fifty-two week high of $88.31. The firm has a market capitalization of $6.68 billion, a PE ratio of -8.89 and a beta of 0.45.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Wednesday, November 4th. The biopharmaceutical company reported ($1.37) EPS for the quarter, topping the consensus estimate of ($1.43) by $0.06. The firm had revenue of $47.56 million for the quarter, compared to analysts’ expectations of $41.88 million. The firm’s quarterly revenue was up 2356.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($2.55) earnings per share. Equities analysts forecast that Cytokinetics, Incorporated will post -5.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CYTK shares. Wall Street Zen raised shares of Cytokinetics from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of Cytokinetics in a research report on Thursday, October 15th. Leerink Partners decreased their target price on shares of Cytokinetics from $103.00 to $100.00 and set an “outperform” rating on the stock in a research report on Thursday. Citigroup increased their price target on shares of Cytokinetics from $99.00 to $105.00 and gave the company a “buy” rating in a report on Thursday. Finally, Morgan Stanley upgraded Cytokinetics from an “overweight” rating to a “buy” rating in a research report on Tuesday, September 1st. Nineteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Cytokinetics has a consensus rating of “Moderate Buy” and a consensus target price of $106.67.

Insider Activity

In other news, EVP Fady Malik sold 3,500 shares of the stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $62.93, for a total value of $220,255.00. Following the sale, the executive vice president owned 153,902 shares of the company’s stock, valued at approximately $9,685,052.86. This represents a 2.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert I. Blum sold 7,500 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $62.81, for a total transaction of $471,075.00. Following the completion of the sale, the chief executive officer owned 278,544 shares of the company’s stock, valued at $17,495,348.64. This trade represents a 2.62% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 180,926 shares of company stock valued at $12,510,340. 2.60% of the stock is currently owned by company insiders.

More Cytokinetics News

Here are the key news stories impacting Cytokinetics this week:

• Positive Sentiment: Cytokinetics reported a third-quarter loss of $1.37 per share, narrower than the $1.43-per-share consensus loss, and revenue of $47.56 million versus expectations of $41.88 million. Revenue rose sharply year over year, and the loss narrowed from $2.55 per share a year earlier. Earnings results
• Positive Sentiment: RBC Capital Markets sees MYQORZO potentially driving a revenue inflection starting in 2027, supporting the longer-term growth case. RBC Capital Markets view
• Positive Sentiment: Analyst sentiment remained supportive: Morgan Stanley initiated a Buy view, while Citigroup raised its target to $105 and Leerink Partners set a new $100 target with an Outperform rating. Morgan Stanley rating Citigroup rating
• Neutral Sentiment: Leerink’s $100 target was reduced from $103, a modest cut that tempers the otherwise positive analyst news, though the firm maintained its Outperform rating. Leerink Partners rating

Cytokinetics Company Profile

Cytokinetics is a biopharmaceutical company focused on discovering and developing medicines that target the biology of muscle function. Its research centers on therapies for conditions involving impaired cardiac muscle performance.

The company’s work includes aficamten, a cardiac myosin inhibitor developed for hypertrophic cardiomyopathy, and other drug candidates designed to affect muscle contraction. Cytokinetics conducts research and clinical development through programs that may involve patients and collaborators in multiple countries.

Founded in 1997, Cytokinetics is based in South San Francisco, California.