Headlands Technologies LLC Acquires New Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Headlands Technologies LLC bought a new position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,508 shares of the biopharmaceutical company’s stock, valued at approximately $877,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CYTK. Vanguard Group Inc. grew its stake in Cytokinetics by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company’s stock worth $316,498,000 after acquiring an additional 472,595 shares during the period. Assenagon Asset Management S.A. purchased a new position in Cytokinetics during the fourth quarter worth about $46,308,000. Rhumbline Advisers boosted its stake in Cytokinetics by 1.1% in the 3rd quarter. Rhumbline Advisers now owns 274,869 shares of the biopharmaceutical company’s stock worth $8,098,000 after buying an additional 3,005 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in Cytokinetics by 10.0% in the 3rd quarter. Rafferty Asset Management LLC now owns 246,922 shares of the biopharmaceutical company’s stock worth $7,274,000 after buying an additional 22,498 shares during the last quarter. Finally, Affinity Asset Advisors LLC increased its stake in shares of Cytokinetics by 84.1% during the 3rd quarter. Affinity Asset Advisors LLC now owns 230,366 shares of the biopharmaceutical company’s stock valued at $6,787,000 after acquiring an additional 105,218 shares during the last quarter.

Cytokinetics Stock Performance

Shares of CYTK traded up $0.54 during trading on Friday, reaching $65.34. The company’s stock had a trading volume of 738,059 shares, compared to its average volume of 1,009,851. The company has a fifty day moving average of $69.91 and a two-hundred day moving average of $59.82. Cytokinetics, Incorporated has a twelve month low of $25.98 and a twelve month high of $110.25.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The company had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $7.62 million. Cytokinetics’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.45) earnings per share. Analysts forecast that Cytokinetics, Incorporated will post -4.5 EPS for the current fiscal year.

Insider Buying and Selling

In other Cytokinetics news, Director John T. Henderson sold 10,562 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $64.54, for a total transaction of $681,671.48. Following the transaction, the director now owns 32,070 shares of the company’s stock, valued at approximately $2,069,797.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director John T. Henderson sold 10,562 shares of Cytokinetics stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $64.54, for a total value of $681,671.48. Following the completion of the transaction, the director now directly owns 32,070 shares of the company’s stock, valued at approximately $2,069,797.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert I. Blum sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $79.57, for a total transaction of $994,625.00. Following the completion of the transaction, the chief executive officer now directly owns 441,797 shares in the company, valued at approximately $35,153,787.29. The disclosure for this sale can be found here. Over the last three months, insiders sold 125,876 shares of company stock worth $9,269,877. Corporate insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

CYTK has been the topic of several research analyst reports. Truist Financial reissued a “buy” rating and issued a $86.00 target price on shares of Cytokinetics in a research report on Monday, April 8th. Oppenheimer reissued an “outperform” rating and set a $107.00 price target on shares of Cytokinetics in a research report on Monday, March 4th. HC Wainwright restated a “buy” rating and issued a $94.00 price objective on shares of Cytokinetics in a report on Wednesday, February 28th. Mizuho reduced their price objective on Cytokinetics from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. Finally, Needham & Company LLC reissued a “buy” rating and set a $108.00 target price on shares of Cytokinetics in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Cytokinetics currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.33.

About Cytokinetics

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.