Carlson Capital L.P. Increases Stake in Cytokinetics, Incorporated $CYTK

Carlson Capital L.P. increased its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 173.3% during the second quarter, Holdings Channel reports. The institutional investor owned 20,500 shares of the biopharmaceutical company’s stock after buying an additional 13,000 shares during the quarter. Carlson Capital L.P.’s holdings in Cytokinetics were worth $677,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its stake in Cytokinetics by 2,872.7% in the second quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company’s stock worth $43,000 after acquiring an additional 1,264 shares during the last quarter. Assetmark Inc. lifted its position in shares of Cytokinetics by 11,510.0% during the 1st quarter. Assetmark Inc. now owns 1,161 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 1,151 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Cytokinetics by 37.8% during the 2nd quarter. UMB Bank n.a. now owns 1,593 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 437 shares during the last quarter. Covestor Ltd grew its stake in shares of Cytokinetics by 1,053.0% during the first quarter. Covestor Ltd now owns 1,914 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 1,748 shares in the last quarter. Finally, US Bancorp DE increased its holdings in Cytokinetics by 38.7% in the first quarter. US Bancorp DE now owns 2,410 shares of the biopharmaceutical company’s stock valued at $97,000 after buying an additional 672 shares during the last quarter.

Insider Buying and Selling at Cytokinetics

In related news, Director Edward M. Md Kaye sold 6,757 shares of the business’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $60.00, for a total value of $405,420.00. Following the transaction, the director owned 9,778 shares in the company, valued at $586,680. The trade was a 40.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $49.77, for a total value of $248,850.00. Following the sale, the chief executive officer directly owned 373,108 shares of the company’s stock, valued at approximately $18,569,585.16. This represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 67,358 shares of company stock valued at $3,895,365. Company insiders own 2.70% of the company’s stock.

Cytokinetics Stock Up 0.9%

CYTK opened at $68.15 on Thursday. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $68.91. The business’s 50 day moving average is $59.50 and its two-hundred day moving average is $44.65. The firm has a market cap of $8.33 billion, a price-to-earnings ratio of -13.36 and a beta of 0.58.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.59) by $0.05. The business had revenue of $1.94 million for the quarter, compared to analysts’ expectations of $6.05 million. The business’s revenue was up 318.1% on a year-over-year basis. During the same quarter last year, the business posted ($1.36) earnings per share. Equities analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a report on Tuesday, September 2nd. Wall Street Zen cut Cytokinetics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Barclays increased their price target on shares of Cytokinetics from $71.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Stifel Nicolaus raised their price objective on shares of Cytokinetics from $87.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, September 2nd. Finally, B. Riley restated a “buy” rating and issued a $90.00 target price (up previously from $80.00) on shares of Cytokinetics in a report on Monday, November 10th. Thirteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Cytokinetics currently has an average rating of “Moderate Buy” and a consensus price target of $77.86.

Cytokinetics Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.