Profund Advisors LLC Sells 12,518 Shares of Cytokinetics, Incorporated $CYTK

Profund Advisors LLC lessened its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 32.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,930 shares of the biopharmaceutical company’s stock after selling 12,518 shares during the quarter. Profund Advisors LLC’s holdings in Cytokinetics were worth $1,425,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CYTK. UMB Bank n.a. increased its holdings in shares of Cytokinetics by 10.6% in the third quarter. UMB Bank n.a. now owns 1,762 shares of the biopharmaceutical company’s stock worth $97,000 after acquiring an additional 169 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Cytokinetics by 1.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 30,514 shares of the biopharmaceutical company’s stock valued at $1,008,000 after purchasing an additional 341 shares during the period. New York State Teachers Retirement System increased its stake in Cytokinetics by 0.4% during the 2nd quarter. New York State Teachers Retirement System now owns 114,500 shares of the biopharmaceutical company’s stock worth $3,783,000 after purchasing an additional 400 shares in the last quarter. KLP Kapitalforvaltning AS increased its stake in Cytokinetics by 1.7% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 24,000 shares of the biopharmaceutical company’s stock worth $793,000 after purchasing an additional 400 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in Cytokinetics by 1.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 28,119 shares of the biopharmaceutical company’s stock worth $929,000 after buying an additional 449 shares during the period.

Insider Transactions at Cytokinetics

In other news, EVP Andrew Callos sold 15,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $61.93, for a total value of $928,950.00. Following the completion of the sale, the executive vice president owned 50,440 shares of the company’s stock, valued at approximately $3,123,749.20. This represents a 22.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Wendell Wierenga sold 20,000 shares of the business’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $66.14, for a total transaction of $1,322,800.00. Following the transaction, the director owned 32,444 shares in the company, valued at approximately $2,145,846.16. The trade was a 38.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 158,585 shares of company stock worth $10,286,998 in the last 90 days. Corporate insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

CYTK has been the subject of several research analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $90.00 price target on shares of Cytokinetics in a report on Friday, January 9th. Citizens Jmp boosted their price objective on shares of Cytokinetics from $78.00 to $88.00 and gave the company a “market outperform” rating in a research report on Monday, December 22nd. Citigroup reaffirmed a “market outperform” rating on shares of Cytokinetics in a research note on Monday, December 22nd. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a research note on Tuesday, October 21st. Finally, HC Wainwright boosted their price target on Cytokinetics from $120.00 to $136.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Seventeen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $87.42.

Cytokinetics Stock Performance

CYTK opened at $64.85 on Wednesday. Cytokinetics, Incorporated has a 52-week low of $29.31 and a 52-week high of $70.98. The firm has a market capitalization of $7.93 billion, a PE ratio of -10.31 and a beta of 0.54. The business’s 50-day simple moving average is $63.33 and its 200 day simple moving average is $56.13.

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.