Janus Henderson Group PLC Acquires 25,909 Shares of Cytokinetics, Incorporated $CYTK

Janus Henderson Group PLC lifted its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 10.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 282,121 shares of the biopharmaceutical company’s stock after acquiring an additional 25,909 shares during the period. Janus Henderson Group PLC owned 0.23% of Cytokinetics worth $18,593,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CYTK. Kemnay Advisory Services Inc. bought a new position in shares of Cytokinetics in the 4th quarter worth $27,000. Kestra Advisory Services LLC bought a new stake in Cytokinetics during the 4th quarter valued at $29,000. TD Waterhouse Canada Inc. bought a new stake in Cytokinetics during the 4th quarter valued at $32,000. Northwestern Mutual Wealth Management Co. raised its holdings in Cytokinetics by 46.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 171 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Cytokinetics in the third quarter valued at $30,000.

Insiders Place Their Bets

In related news, CEO Robert I. Blum sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $84.92, for a total value of $636,900.00. Following the transaction, the chief executive officer directly owned 377,830 shares in the company, valued at approximately $32,085,323.60. This represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director B Lynne Parshall sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $74.08, for a total transaction of $370,400.00. Following the completion of the sale, the director directly owned 15,784 shares in the company, valued at $1,169,278.72. This represents a 24.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 115,179 shares of company stock worth $9,126,054 in the last ninety days. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CYTK has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on Cytokinetics from $95.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Morgan Stanley upped their price target on Cytokinetics from $90.00 to $103.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cytokinetics in a research report on Friday, July 17th. Stifel Nicolaus raised their price objective on Cytokinetics from $98.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, HC Wainwright lifted their price objective on shares of Cytokinetics from $136.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.90.

Cytokinetics Stock Down 0.9%

NASDAQ CYTK opened at $76.45 on Tuesday. The company has a market cap of $9.51 billion, a PE ratio of -11.18 and a beta of 0.39. Cytokinetics, Incorporated has a 52 week low of $32.89 and a 52 week high of $88.31. The firm’s 50-day simple moving average is $78.74 and its two-hundred day simple moving average is $70.52.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, meeting the consensus estimate of ($1.67). The company had revenue of $19.36 million during the quarter, compared to analysts’ expectations of $8.52 million. Cytokinetics’s revenue for the quarter was up 1112.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.36) earnings per share. As a group, equities research analysts anticipate that Cytokinetics, Incorporated will post -6.2 EPS for the current year.

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.