ClariVest Asset Management LLC boosted its position in shares of Cytokinetics Inc. (NASDAQ:CYTK) by 15.5% during the second quarter, Holdings Channel reports. The firm owned 89,263 shares of the biopharmaceutical company’s stock after buying an additional 12,000 shares during the period. ClariVest Asset Management LLC’s holdings in Cytokinetics were worth $847,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in CYTK. BVF Inc. IL boosted its position in shares of Cytokinetics by 48.6% in the first quarter. BVF Inc. IL now owns 4,340,729 shares of the biopharmaceutical company’s stock worth $30,602,000 after buying an additional 1,420,101 shares during the period. Wellington Management Group LLP boosted its position in shares of Cytokinetics by 651.4% in the first quarter. Wellington Management Group LLP now owns 1,928,693 shares of the biopharmaceutical company’s stock worth $13,597,000 after buying an additional 1,672,028 shares during the period. Sphera Funds Management LTD. purchased a new position in shares of Cytokinetics during the first quarter worth about $2,411,000. Strs Ohio boosted its position in shares of Cytokinetics by 8.3% in the second quarter. Strs Ohio now owns 64,900 shares of the biopharmaceutical company’s stock worth $615,000 after buying an additional 5,000 shares during the period. Finally, Bank of Montreal Can purchased a new position in shares of Cytokinetics during the second quarter worth about $126,000. 67.30% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cytokinetics Inc. (NASDAQ:CYTK) traded down 1.40% during trading on Friday, hitting $9.14. 278,676 shares of the stock were exchanged. Cytokinetics Inc. has a 52 week low of $6.00 and a 52 week high of $13.18. The stock’s 50 day moving average price is $9.54 and its 200 day moving average price is $9.27. The firm’s market capitalization is $362.89 million.
Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.02. Cytokinetics had a negative net margin of 132.01% and a negative return on equity of 69.51%. On average, equities analysts predict that Cytokinetics Inc. will post ($1.30) earnings per share for the current year.
CYTK has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $17.00 price objective on shares of Cytokinetics in a research note on Thursday, September 1st. FBR & Co reaffirmed a “buy” rating on shares of Cytokinetics in a research note on Friday, September 9th. Zacks Investment Research raised shares of Cytokinetics from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Monday, September 5th. Cowen and Company reaffirmed an “outperform” rating and set a $16.00 target price on shares of Cytokinetics in a research note on Wednesday, October 5th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $24.00 target price on shares of Cytokinetics in a research note on Tuesday, July 12th. Eight investment analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average price target of $18.00.
Cytokinetics, Incorporated is a biopharmaceutical company. The Company is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions. Its drug candidates include tirasemtiv, CK-2127107 and omecamtiv mecarbil.
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