Catalio Capital Management LP Trims Stock Position in Cytokinetics, Incorporated $CYTK

Catalio Capital Management LP cut its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 42.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 258,381 shares of the biopharmaceutical company’s stock after selling 193,200 shares during the period. Cytokinetics makes up 3.0% of Catalio Capital Management LP’s investment portfolio, making the stock its 12th biggest holding. Catalio Capital Management LP owned 0.21% of Cytokinetics worth $16,418,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. purchased a new stake in Cytokinetics in the 4th quarter valued at approximately $27,000. Kestra Advisory Services LLC purchased a new stake in Cytokinetics in the 4th quarter valued at approximately $29,000. TD Waterhouse Canada Inc. purchased a new stake in Cytokinetics in the 4th quarter valued at approximately $32,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Cytokinetics by 46.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 171 shares in the last quarter. Finally, Quarry LP purchased a new stake in Cytokinetics in the 3rd quarter valued at approximately $30,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Morgan Stanley lifted their price objective on Cytokinetics from $90.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Citizens Jmp lifted their price objective on Cytokinetics from $88.00 to $96.00 and gave the company a “market outperform” rating in a report on Wednesday, February 25th. Leerink Partners reaffirmed an “outperform” rating on shares of Cytokinetics in a report on Tuesday, March 10th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $119.00 price objective on shares of Cytokinetics in a report on Wednesday. Finally, Mizuho boosted their price target on Cytokinetics from $84.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 18th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Cytokinetics presently has an average rating of “Moderate Buy” and an average price target of $99.30.

Cytokinetics Price Performance

Shares of Cytokinetics stock opened at $78.11 on Thursday. Cytokinetics, Incorporated has a 1 year low of $31.99 and a 1 year high of $80.20. The company has a market capitalization of $9.72 billion, a P/E ratio of -11.42 and a beta of 0.42. The business has a 50 day moving average price of $70.93 and a 200 day moving average price of $66.20.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($1.67). The company had revenue of $19.36 million for the quarter, compared to analyst estimates of $8.52 million. The company’s revenue for the quarter was up 1112.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.36) earnings per share. As a group, research analysts expect that Cytokinetics, Incorporated will post -6.29 EPS for the current fiscal year.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 7,500 shares of the business’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $59.62, for a total value of $447,150.00. Following the completion of the transaction, the chief executive officer directly owned 407,830 shares in the company, valued at approximately $24,314,824.60. The trade was a 1.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director B Lynne Parshall sold 5,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $74.08, for a total value of $370,400.00. Following the completion of the transaction, the director owned 15,784 shares of the company’s stock, valued at $1,169,278.72. This trade represents a 24.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 113,739 shares of company stock worth $7,837,220. Insiders own 2.60% of the company’s stock.

Cytokinetics Company 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.