Cytokinetics, Incorporated $CYTK Shares Sold by Catalio Capital Management LP

Catalio Capital Management LP trimmed its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 42.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 258,381 shares of the biopharmaceutical company’s stock after selling 193,200 shares during the period. Cytokinetics makes up about 3.0% of Catalio Capital Management LP’s holdings, making the stock its 12th biggest holding. Catalio Capital Management LP’s holdings in Cytokinetics were worth $16,418,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Bank of Montreal Can increased its holdings in shares of Cytokinetics by 1.2% during the 4th quarter. Bank of Montreal Can now owns 13,292 shares of the biopharmaceutical company’s stock worth $845,000 after buying an additional 160 shares during the last quarter. Kennedy Capital Management LLC increased its holdings in shares of Cytokinetics by 1.2% during the 4th quarter. Kennedy Capital Management LLC now owns 13,183 shares of the biopharmaceutical company’s stock worth $838,000 after buying an additional 162 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Cytokinetics by 46.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 171 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in Cytokinetics by 6.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,723 shares of the biopharmaceutical company’s stock valued at $237,000 after purchasing an additional 239 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in Cytokinetics by 32.3% in the 3rd quarter. Fifth Third Bancorp now owns 1,072 shares of the biopharmaceutical company’s stock valued at $59,000 after purchasing an additional 262 shares in the last quarter.

Wall Street Analyst Weigh In

CYTK has been the subject of several recent research reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $119.00 price target on shares of Cytokinetics in a report on Wednesday. Mizuho increased their price target on Cytokinetics from $84.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, March 18th. Wall Street Zen upgraded Cytokinetics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. HC Wainwright increased their price target on Cytokinetics from $136.00 to $140.00 and gave the company a “buy” rating in a report on Monday, May 11th. Finally, Bank of America reiterated a “neutral” rating on shares of Cytokinetics in a report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.30.

Insider Transactions at Cytokinetics

In other news, CEO Robert I. Blum sold 7,500 shares of the stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $59.62, for a total transaction of $447,150.00. Following the transaction, the chief executive officer owned 407,830 shares of the company’s stock, valued at approximately $24,314,824.60. This trade represents a 1.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Callos sold 15,857 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $65.00, for a total transaction of $1,030,705.00. Following the transaction, the executive vice president directly owned 58,555 shares in the company, valued at $3,806,075. The trade was a 21.31% decrease in their position. 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. Over the last 90 days, insiders have sold 113,739 shares of company stock valued at $7,837,220. Insiders own 2.60% of the company’s stock.

Cytokinetics Stock Performance

Shares of CYTK stock opened at $78.11 on Thursday. Cytokinetics, Incorporated has a one year low of $31.99 and a one year high of $80.20. The company’s 50-day simple moving average is $70.93 and its 200-day simple moving average is $66.20. The stock has a market capitalization of $9.72 billion, a price-to-earnings ratio of -11.42 and a beta of 0.42.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) EPS for the quarter, hitting the consensus estimate of ($1.67). The company had revenue of $19.36 million for the quarter, compared to the consensus estimate of $8.52 million. During the same period in the previous year, the business posted ($1.36) EPS. The business’s revenue for the quarter was up 1112.5% on a year-over-year basis. As a group, research analysts forecast that Cytokinetics, Incorporated will post -6.29 EPS for the current year.

About Cytokinetics

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.