Nicholas Investment Partners LP Has $4.46 Million Stock Holdings in Cytokinetics, Incorporated $CYTK

Nicholas Investment Partners LP grew its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 13.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,240 shares of the biopharmaceutical company’s stock after buying an additional 8,123 shares during the period. Nicholas Investment Partners LP owned 0.06% of Cytokinetics worth $4,463,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kestra Advisory Services LLC acquired a new stake in shares of Cytokinetics in the fourth quarter valued at about $29,000. TD Waterhouse Canada Inc. acquired a new stake in shares of Cytokinetics in the fourth quarter valued at about $32,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Cytokinetics by 46.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 171 shares during the period. Quarry LP acquired a new stake in shares of Cytokinetics in the third quarter valued at about $30,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Cytokinetics in the third quarter valued at about $32,000.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays raised their target price on Cytokinetics from $87.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, April 6th. UBS Group set a $119.00 target price on Cytokinetics in a research note on Wednesday, May 6th. HC Wainwright raised their target price on Cytokinetics from $136.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Leerink Partners reaffirmed an “outperform” rating on shares of Cytokinetics in a research note on Tuesday, March 10th. Finally, Robert W. Baird set a $84.00 target price on Cytokinetics in a research note on Tuesday, March 10th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.30.

Insider Buying and Selling at Cytokinetics

In related news, EVP Andrew Callos sold 15,000 shares of Cytokinetics stock in a transaction on Monday, June 1st. The stock was sold at an average price of $74.08, for a total transaction of $1,111,200.00. Following the sale, the executive vice president directly owned 58,555 shares in the company, valued at approximately $4,337,754.40. This trade represents a 20.39% 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, EVP Fady Ibraham Malik sold 3,500 shares of Cytokinetics stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $67.98, for a total value of $237,930.00. Following the sale, the executive vice president owned 153,902 shares in the company, valued at $10,462,257.96. This trade represents a 2.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 171,989 shares of company stock valued at $11,393,064 in the last ninety days. 2.60% of the stock is owned by corporate insiders.

Cytokinetics Stock Up 1.3%

CYTK stock opened at $70.15 on Friday. The firm has a market capitalization of $8.73 billion, a PE ratio of -10.26 and a beta of 0.42. Cytokinetics, Incorporated has a twelve month low of $31.99 and a twelve month high of $80.20. The stock’s 50 day moving average is $70.40 and its 200-day moving average is $66.06.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) EPS for the quarter, meeting the consensus estimate of ($1.67). The firm had revenue of $19.36 million during the quarter, compared to analysts’ expectations of $8.52 million. The company’s quarterly revenue was up 1112.5% on a year-over-year basis. During the same quarter last year, the business posted ($1.36) EPS. On average, equities research analysts anticipate that Cytokinetics, Incorporated will post -6.29 earnings per share for the current fiscal year.

Cytokinetics Company Profile

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.