Mirador Capital Partners LP Grows Stock Holdings in Cytokinetics, Incorporated $CYTK

Mirador Capital Partners LP lifted its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 36.7% in the third quarter, HoldingsChannel.com reports. The firm owned 197,367 shares of the biopharmaceutical company’s stock after purchasing an additional 53,020 shares during the period. Cytokinetics comprises 1.5% of Mirador Capital Partners LP’s investment portfolio, making the stock its 18th largest position. Mirador Capital Partners LP’s holdings in Cytokinetics were worth $10,847,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cetera Investment Advisers raised its position in Cytokinetics by 29.7% during the 1st quarter. Cetera Investment Advisers now owns 5,904 shares of the biopharmaceutical company’s stock valued at $237,000 after purchasing an additional 1,353 shares during the last quarter. Nuveen LLC bought a new position in shares of Cytokinetics during the first quarter valued at approximately $14,121,000. HighTower Advisors LLC lifted its stake in Cytokinetics by 21.8% in the first quarter. HighTower Advisors LLC now owns 11,352 shares of the biopharmaceutical company’s stock worth $456,000 after acquiring an additional 2,029 shares during the period. American Century Companies Inc. boosted its holdings in Cytokinetics by 1.3% in the first quarter. American Century Companies Inc. now owns 361,388 shares of the biopharmaceutical company’s stock valued at $14,524,000 after acquiring an additional 4,812 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in Cytokinetics by 98.2% in the first quarter. Algert Global LLC now owns 116,320 shares of the biopharmaceutical company’s stock valued at $4,675,000 after acquiring an additional 57,640 shares in the last quarter.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK opened at $62.02 on Wednesday. Cytokinetics, Incorporated has a 1-year low of $29.31 and a 1-year high of $69.33. The business has a fifty day moving average price of $62.64 and a 200-day moving average price of $48.02. The company has a market capitalization of $7.58 billion, a PE ratio of -9.86 and a beta of 0.58.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, beating the consensus estimate of ($1.59) by $0.05. The firm had revenue of $1.94 million for the quarter, compared to the consensus estimate of $6.05 million. Cytokinetics’s revenue was up 318.1% on a year-over-year basis. During the same period last year, the business earned ($1.36) EPS. On average, sell-side analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on CYTK. Bank of America raised their target price on shares of Cytokinetics from $52.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, October 2nd. JMP Securities restated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Tuesday, September 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Friday, December 12th. Royal Bank Of Canada increased their target price on Cytokinetics from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 11th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research report on Tuesday, October 21st. Thirteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.29.

Insider Transactions at Cytokinetics

In other news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $55.05, for a total transaction of $275,250.00. Following the transaction, the chief executive officer directly owned 368,108 shares of the company’s stock, valued at $20,264,345.40. This represents a 1.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrew Callos sold 52,486 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $65.95, for a total value of $3,461,451.70. Following the completion of the transaction, the executive vice president directly owned 50,660 shares in the company, valued at $3,341,027. The trade was a 50.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 150,494 shares of company stock valued at $9,586,778. Insiders own 3.40% of the company’s stock.

Cytokinetics Company 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.