Great Lakes Advisors LLC Takes $1.96 Million Position in Cytokinetics, Incorporated $CYTK

Great Lakes Advisors LLC acquired a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,002 shares of the biopharmaceutical company’s stock, valued at approximately $1,960,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can increased its holdings in shares of Cytokinetics by 1.2% during the 4th quarter. Bank of Montreal Can now owns 13,292 shares of the biopharmaceutical company’s stock worth $845,000 after buying an additional 160 shares during the last quarter. Kennedy Capital Management LLC lifted its holdings in Cytokinetics by 1.2% in the fourth quarter. Kennedy Capital Management LLC now owns 13,183 shares of the biopharmaceutical company’s stock valued at $838,000 after acquiring an additional 162 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Cytokinetics by 46.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 171 shares during the period. Vident Advisory LLC grew its position in Cytokinetics by 1.4% in the fourth quarter. Vident Advisory LLC now owns 16,455 shares of the biopharmaceutical company’s stock worth $1,046,000 after acquiring an additional 234 shares during the period. Finally, CIBC Private Wealth Group LLC increased its stake in Cytokinetics by 6.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,723 shares of the biopharmaceutical company’s stock worth $237,000 after acquiring an additional 239 shares during the last quarter.

Insider Activity at Cytokinetics

In other Cytokinetics news, EVP Andrew Callos sold 15,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $74.08, for a total transaction of $1,111,200.00. Following the sale, the executive vice president directly owned 58,555 shares in the company, valued at $4,337,754.40. This represents a 20.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director B Lynne Parshall sold 5,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $74.08, for a total transaction of $370,400.00. Following the sale, the director directly owned 15,784 shares in the company, valued at $1,169,278.72. This represents a 24.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 118,679 shares of company stock worth $9,382,724 in the last three months. 2.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CYTK has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Cytokinetics in a research report on Friday, July 17th. Wall Street Zen upgraded Cytokinetics from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. Stifel Nicolaus raised their price objective on Cytokinetics from $98.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Morgan Stanley boosted their price objective on shares of Cytokinetics from $90.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Mizuho upped their target price on shares of Cytokinetics from $100.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, June 24th. Nineteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.20.

Cytokinetics Stock Down 0.4%

NASDAQ:CYTK opened at $76.84 on Friday. The stock’s fifty day moving average is $80.09 and its two-hundred day moving average is $71.75. Cytokinetics, Incorporated has a 52 week low of $35.22 and a 52 week high of $88.31. The stock has a market capitalization of $9.56 billion, a price-to-earnings ratio of -10.64 and a beta of 0.38.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.50) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.63) by $0.13. The firm had revenue of $28.62 million during the quarter, compared to analyst estimates of $17.59 million. The company’s quarterly revenue was down 57.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.12) earnings per share. On average, sell-side analysts expect that Cytokinetics, Incorporated will post -6 EPS for the current fiscal year.

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.