Cytokinetics, Incorporated $CYTK Shares Purchased by Monashee Investment Management LLC

Monashee Investment Management LLC raised its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 33.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,000 shares of the biopharmaceutical company’s stock after purchasing an additional 25,000 shares during the period. Cytokinetics comprises about 3.6% of Monashee Investment Management LLC’s portfolio, making the stock its 8th largest holding. Monashee Investment Management LLC owned approximately 0.08% of Cytokinetics worth $6,591,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Millennium Management LLC boosted its holdings in shares of Cytokinetics by 361.9% in the 1st quarter. Millennium Management LLC now owns 287,901 shares of the biopharmaceutical company’s stock valued at $11,571,000 after buying an additional 225,576 shares during the period. Cetera Investment Advisers grew its position in shares of Cytokinetics by 12.4% during the 2nd quarter. Cetera Investment Advisers now owns 6,635 shares of the biopharmaceutical company’s stock valued at $219,000 after buying an additional 731 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Cytokinetics by 723.7% during the second 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. Gabelli Funds LLC lifted its holdings in Cytokinetics by 29.4% in the second quarter. Gabelli Funds LLC now owns 8,410 shares of the biopharmaceutical company’s stock worth $278,000 after acquiring an additional 1,910 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in Cytokinetics by 10.8% in the second quarter. California Public Employees Retirement System now owns 142,602 shares of the biopharmaceutical company’s stock worth $4,712,000 after acquiring an additional 13,911 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have commented on CYTK. Morgan Stanley lifted their target price on Cytokinetics from $90.00 to $103.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. UBS Group raised Cytokinetics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $69.00 to $115.00 in a report on Monday, June 29th. Mizuho boosted their price objective on Cytokinetics from $100.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, June 24th. Royal Bank Of Canada reduced their price objective on Cytokinetics from $119.00 to $117.00 and set an “outperform” rating for the company in a research report on Tuesday, July 7th. Finally, Citigroup began coverage on Cytokinetics in a research report on Monday, May 18th. They issued a “buy” rating and a $99.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Cytokinetics presently has an average rating of “Moderate Buy” and an average target price of $99.90.

Insider Activity

In other Cytokinetics news, EVP Andrew Callos sold 15,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $85.80, for a total transaction of $1,287,000.00. Following the completion of the transaction, the executive vice president owned 58,555 shares in the company, valued at approximately $5,024,019. The trade was a 20.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sung Lee sold 1,112 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $87.79, for a total value of $97,622.48. Following the transaction, the executive vice president directly owned 63,221 shares in the company, valued at $5,550,171.59. This trade represents a 1.73% 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. Insiders have sold 132,036 shares of company stock worth $9,816,694 over the last ninety days. 2.60% of the stock is currently owned by company insiders.

Cytokinetics Trading Up 1.3%

Shares of NASDAQ:CYTK opened at $82.19 on Thursday. The firm’s 50 day moving average is $78.37 and its two-hundred day moving average is $69.61. Cytokinetics, Incorporated has a 52 week low of $32.89 and a 52 week high of $88.31. The firm has a market capitalization of $10.23 billion, a P/E ratio of -12.02 and a beta of 0.42.

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 business had revenue of $19.36 million for the quarter, compared to analyst estimates of $8.52 million. During the same quarter in the prior year, the firm posted ($1.36) earnings per share. The business’s quarterly revenue was up 1112.5% on a year-over-year basis. Analysts predict that Cytokinetics, Incorporated will post -6.22 EPS for the current year.

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.