Affinity Asset Advisors LLC Acquires 30,000 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Affinity Asset Advisors LLC boosted its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 75.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 70,000 shares of the biopharmaceutical company’s stock after purchasing an additional 30,000 shares during the quarter. Affinity Asset Advisors LLC’s holdings in Cytokinetics were worth $1,385,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. US Bancorp DE grew its position in Cytokinetics by 144.8% during the 2nd quarter. US Bancorp DE now owns 1,687 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 998 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Cytokinetics during the 1st quarter valued at about $44,000. Captrust Financial Advisors boosted its holdings in shares of Cytokinetics by 1,422.1% during the 1st quarter. Captrust Financial Advisors now owns 2,131 shares of the biopharmaceutical company’s stock valued at $50,000 after acquiring an additional 1,991 shares during the last quarter. Pinz Capital Management LP purchased a new stake in shares of Cytokinetics during the 1st quarter valued at about $109,000. Finally, E Fund Management Co. Ltd. purchased a new stake in shares of Cytokinetics during the 1st quarter valued at about $141,000. 90.54% of the stock is currently owned by institutional investors.

In related news, Director Sandford D. Smith sold 11,965 shares of the company’s stock in a transaction dated Monday, July 19th. The shares were sold at an average price of $28.87, for a total value of $345,429.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Cragg sold 2,616 shares of the company’s stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $29.67, for a total transaction of $77,616.72. The disclosure for this sale can be found here. Insiders have sold 41,150 shares of company stock valued at $1,281,831 over the last ninety days. 5.70% of the stock is owned by insiders.

A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Cytokinetics from a “sell” rating to a “hold” rating and set a $43.00 price target on the stock in a report on Wednesday, October 6th. Jefferies Financial Group initiated coverage on shares of Cytokinetics in a report on Wednesday, October 6th. They issued a “buy” rating and a $75.00 price objective on the stock. HC Wainwright reissued a “buy” rating and issued a $58.00 price objective on shares of Cytokinetics in a report on Friday, October 8th. JMP Securities raised their price objective on shares of Cytokinetics from $26.00 to $44.00 and gave the stock an “outperform” rating in a report on Monday, July 19th. Finally, Mizuho initiated coverage on shares of Cytokinetics in a report on Thursday, July 1st. They issued a “buy” rating and a $36.00 price objective on the stock. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $47.00.

CYTK traded up $0.62 during trading hours on Thursday, hitting $38.60. The company’s stock had a trading volume of 18,978 shares, compared to its average volume of 1,189,246. The business’s 50-day moving average price is $33.18 and its 200-day moving average price is $27.03. Cytokinetics, Incorporated has a 12 month low of $14.89 and a 12 month high of $39.46. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of -17.34 and a beta of 1.41. The company has a current ratio of 5.90, a quick ratio of 5.90 and a debt-to-equity ratio of 7.76.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Thursday, August 5th. The biopharmaceutical company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.20). Cytokinetics had a negative return on equity of 179.39% and a negative net margin of 269.48%. The business had revenue of $2.84 million during the quarter, compared to the consensus estimate of $5.68 million. On average, analysts forecast that Cytokinetics, Incorporated will post -3.02 earnings per share for the current year.

About Cytokinetics

Cytokinetics, Inc operates as a biopharmaceutical company. The firm focuses on the discovery and development of muscle activators as potential treatment for debilitating diseases. It conducts a Phase 2 clinical trials program for tirasemtiv, including a Phase 2b clinical trial in patients with ALS, known as BENEFIT-ALS (Blinded Evaluation of Neuromuscular Effects and Functional Improvement with Tirasemtiv in ALS).

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Institutional Ownership by Quarter for Cytokinetics (NASDAQ:CYTK)

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