Sanders Morris Harris LLC Takes $1.18 Million Position in Cytokinetics, Incorporated $CYTK

Sanders Morris Harris LLC acquired a new position in Cytokinetics, Incorporated (NASDAQ:CYTK) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 21,505 shares of the biopharmaceutical company’s stock, valued at approximately $1,182,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in Cytokinetics by 723.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 673 shares during the period. Hantz Financial Services Inc. boosted its holdings in Cytokinetics by 2,872.7% during the second quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 1,264 shares during the period. UMB Bank n.a. grew its position in shares of Cytokinetics by 37.8% in the second quarter. UMB Bank n.a. now owns 1,593 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 437 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Cytokinetics by 109.4% in the third quarter. GAMMA Investing LLC now owns 1,472 shares of the biopharmaceutical company’s stock worth $81,000 after purchasing an additional 769 shares during the period. Finally, Assetmark Inc. increased its stake in shares of Cytokinetics by 127.6% in the second quarter. Assetmark Inc. now owns 2,642 shares of the biopharmaceutical company’s stock worth $87,000 after purchasing an additional 1,481 shares during the period.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,200 shares of Cytokinetics stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $61.24, for a total transaction of $134,728.00. Following the transaction, the executive vice president directly owned 138,552 shares in the company, valued at approximately $8,484,924.48. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edward M. Md Kaye sold 28,064 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $66.72, for a total value of $1,872,430.08. Following the completion of the transaction, the director directly owned 9,977 shares of the company’s stock, valued at approximately $665,665.44. The trade was a 73.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 150,494 shares of company stock worth $9,586,778 in the last three months. 3.40% of the stock is owned by insiders.

Cytokinetics Stock Performance

Shares of NASDAQ CYTK opened at $62.02 on Wednesday. Cytokinetics, Incorporated has a 52-week low of $29.31 and a 52-week high of $69.33. The stock has a market cap of $7.58 billion, a P/E ratio of -9.86 and a beta of 0.58. The firm has a 50 day moving average price of $62.64 and a 200 day moving average price of $48.02.

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, topping analysts’ consensus estimates 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. During the same period in the prior year, the business earned ($1.36) earnings per share. The company’s revenue for the quarter was up 318.1% compared to the same quarter last year. Analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. JMP Securities restated a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a research note on Tuesday, September 2nd. Wall Street Zen cut Cytokinetics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Citigroup raised their price objective on shares of Cytokinetics from $77.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. Stifel Nicolaus upped their target price on shares of Cytokinetics from $87.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a report on Tuesday, October 21st. Thirteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $79.29.

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.