Segall Bryant & Hamill LLC Boosts Position in Cytokinetics, Incorporated $CYTK

Segall Bryant & Hamill LLC lifted its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 116.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,050 shares of the biopharmaceutical company’s stock after buying an additional 97,280 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.15% of Cytokinetics worth $9,951,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Lisanti Capital Growth LLC purchased a new stake in Cytokinetics in the 3rd quarter worth approximately $2,697,000. Sanders Morris Harris LLC purchased a new position in shares of Cytokinetics during the 3rd quarter valued at $1,182,000. Y Intercept Hong Kong Ltd bought a new position in shares of Cytokinetics in the third quarter worth $1,359,000. Moody Aldrich Partners LLC purchased a new stake in shares of Cytokinetics in the third quarter worth $4,532,000. Finally, Norges Bank purchased a new stake in shares of Cytokinetics in the second quarter worth $39,122,000.

Cytokinetics Stock Up 2.6%

Cytokinetics stock opened at $62.27 on Thursday. The firm has a fifty day simple moving average of $64.04 and a two-hundred day simple moving average of $59.24. Cytokinetics, Incorporated has a twelve month low of $29.31 and a twelve month high of $70.98. The company has a market capitalization of $7.67 billion, a PE ratio of -9.54 and a beta of 0.56.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) EPS for the quarter, missing the consensus estimate of ($1.48) by ($0.02). The firm had revenue of $17.76 million during the quarter, compared to analysts’ expectations of $8.02 million. During the same quarter in the prior year, the company posted ($1.26) EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CYTK shares. Barclays initiated coverage on Cytokinetics in a research note on Wednesday, January 28th. They issued an “overweight” rating and a $87.00 target price on the stock. Citizens Jmp raised their target price on shares of Cytokinetics from $88.00 to $96.00 and gave the company a “market outperform” rating in a research note on Wednesday, February 25th. HC Wainwright lifted their target price on shares of Cytokinetics from $120.00 to $136.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Cytokinetics in a report on Wednesday, January 21st. Finally, UBS Group restated a “neutral” rating and set a $61.00 price objective on shares of Cytokinetics in a research report on Monday, December 1st. Seventeen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.83.

Insiders Place Their Bets

In other Cytokinetics news, Director Wendell Wierenga sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $66.14, for a total value of $1,322,800.00. Following the completion of the sale, the director owned 32,444 shares in the company, valued at approximately $2,145,846.16. The trade was a 38.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Fady Ibraham Malik sold 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $61.24, for a total transaction of $134,728.00. Following the completion of the transaction, the executive vice president owned 138,552 shares in the company, valued at $8,484,924.48. This represents a 1.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 110,221 shares of company stock valued at $7,101,425 in the last ninety days. Company insiders own 2.70% of the company’s stock.

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.