Calamos Advisors LLC Acquires Shares of 21,627 Cytokinetics, Incorporated $CYTK

Calamos Advisors LLC purchased a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 21,627 shares of the biopharmaceutical company’s stock, valued at approximately $1,425,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Emerald Mutual Fund Advisers Trust bought a new position in Cytokinetics in the 1st quarter valued at $8,928,000. Emerald Advisers LLC bought a new stake in shares of Cytokinetics during the first quarter worth approximately $13,104,000. State of Michigan Retirement System increased its holdings in Cytokinetics by 1.7% in the first quarter. State of Michigan Retirement System now owns 29,400 shares of the biopharmaceutical company’s stock valued at $1,938,000 after purchasing an additional 500 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Cytokinetics by 11.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,093,485 shares of the biopharmaceutical company’s stock worth $72,072,000 after acquiring an additional 116,593 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in Cytokinetics by 2,535.6% in the first quarter. Fifth Third Bancorp now owns 28,728 shares of the biopharmaceutical company’s stock worth $1,893,000 after purchasing an additional 27,638 shares during the period.

Insider Activity

In other news, CEO Robert I. Blum sold 7,500 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $77.21, for a total value of $579,075.00. Following the sale, the chief executive officer directly owned 392,830 shares of the company’s stock, valued at approximately $30,330,404.30. This represents a 1.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Callos sold 15,857 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $65.00, for a total value of $1,030,705.00. Following the sale, the executive vice president directly owned 58,555 shares of the company’s stock, valued at $3,806,075. This represents a 21.31% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 135,536 shares of company stock worth $10,046,609 over the last ninety days. Company insiders own 2.60% of the company’s stock.

Cytokinetics Trading Down 2.7%

Shares of Cytokinetics stock opened at $80.36 on Friday. The firm’s 50 day moving average is $77.99 and its 200 day moving average is $69.10. The firm has a market capitalization of $10.00 billion, a PE ratio of -11.75 and a beta of 0.42. Cytokinetics, Incorporated has a 1 year low of $32.89 and a 1 year high of $88.31.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, meeting the consensus estimate of ($1.67). The firm had revenue of $19.36 million for the quarter, compared to analyst estimates of $8.52 million. During the same period last year, the business earned ($1.36) EPS. The company’s revenue was up 1112.5% compared to the same quarter last year. As a group, research analysts anticipate that Cytokinetics, Incorporated will post -6.22 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CYTK shares. Mizuho boosted their price objective on Cytokinetics from $100.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, June 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytokinetics in a research note on Monday, April 20th. Needham & Company LLC restated a “buy” rating and set a $102.00 price objective on shares of Cytokinetics in a research report on Wednesday, June 17th. Morgan Stanley boosted their target price on shares of Cytokinetics from $90.00 to $103.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen raised Cytokinetics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Cytokinetics presently has a consensus rating of “Moderate Buy” and an average price target of $99.90.

Cytokinetics 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.