Monashee Investment Management LLC Has $6.59 Million Stock Holdings in Cytokinetics, Incorporated $CYTK

Monashee Investment Management LLC lifted its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 33.3% during the first quarter, Holdings Channel reports. The institutional investor owned 100,000 shares of the biopharmaceutical company’s stock after buying an additional 25,000 shares during the quarter. Cytokinetics makes up approximately 3.6% of Monashee Investment Management LLC’s investment portfolio, making the stock its 8th largest position. Monashee Investment Management LLC’s holdings in Cytokinetics were worth $6,591,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. First Trust Advisors LP grew its holdings in Cytokinetics by 14.4% during the first quarter. First Trust Advisors LP now owns 145,890 shares of the biopharmaceutical company’s stock worth $9,616,000 after acquiring an additional 18,366 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Cytokinetics by 75.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 94,503 shares of the biopharmaceutical company’s stock valued at $6,229,000 after purchasing an additional 40,574 shares in the last quarter. AlphaCentric Advisors LLC boosted its position in shares of Cytokinetics by 5.7% during the 1st quarter. AlphaCentric Advisors LLC now owns 5,616 shares of the biopharmaceutical company’s stock valued at $370,000 after purchasing an additional 305 shares in the last quarter. Swiss National Bank grew its stake in shares of Cytokinetics by 2.5% in the 1st quarter. Swiss National Bank now owns 229,800 shares of the biopharmaceutical company’s stock worth $15,146,000 after purchasing an additional 5,600 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of Cytokinetics by 4.8% in the 1st quarter. California Public Employees Retirement System now owns 198,530 shares of the biopharmaceutical company’s stock worth $13,085,000 after purchasing an additional 9,129 shares during the last quarter.

Analyst Ratings Changes

Several analysts recently commented on CYTK shares. Wells Fargo & Company increased their target price on shares of Cytokinetics from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Truist Financial set a $106.00 price target on shares of Cytokinetics in a research report on Tuesday, May 5th. Royal Bank Of Canada dropped their price target on Cytokinetics from $119.00 to $117.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Barclays increased their price objective on Cytokinetics from $87.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, April 6th. Finally, HC Wainwright raised their price objective on Cytokinetics from $136.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Cytokinetics has a consensus rating of “Moderate Buy” and a consensus target price of $99.90.

Cytokinetics Trading Up 1.3%

CYTK stock opened at $82.19 on Thursday. Cytokinetics, Incorporated has a one year low of $32.89 and a one year high of $88.31. The firm has a market capitalization of $10.23 billion, a PE ratio of -12.02 and a beta of 0.42. The firm has a 50-day moving average of $78.37 and a two-hundred day moving average of $69.61.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) EPS for the quarter, hitting the consensus estimate of ($1.67). The firm had revenue of $19.36 million during the quarter, compared to analyst estimates of $8.52 million. The business’s quarterly revenue was up 1112.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.36) earnings per share. On average, equities research analysts anticipate that Cytokinetics, Incorporated will post -6.22 earnings per share for the current year.

Insiders Place Their Bets

In other Cytokinetics news, EVP Sung Lee sold 1,112 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $87.79, for a total transaction of $97,622.48. Following the sale, the executive vice president directly owned 63,221 shares of the company’s stock, valued at $5,550,171.59. The trade was a 1.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Fady Ibraham Malik sold 3,500 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $86.62, for a total value of $303,170.00. Following the completion of the sale, the executive vice president owned 153,902 shares of the company’s stock, valued at $13,330,991.24. The trade was a 2.22% 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. Insiders have sold 132,036 shares of company stock worth $9,816,694 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

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.