Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Acquired by Davidson Kempner Capital Management LP

Davidson Kempner Capital Management LP lifted its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 242.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,438 shares of the biopharmaceutical company’s stock after purchasing an additional 89,563 shares during the quarter. Davidson Kempner Capital Management LP’s holdings in Cytokinetics were worth $6,837,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CYTK. Xponance Inc. raised its position in shares of Cytokinetics by 9.7% in the 2nd quarter. Xponance Inc. now owns 15,202 shares of the biopharmaceutical company’s stock valued at $824,000 after purchasing an additional 1,348 shares during the last quarter. Bank of Montreal Can increased its stake in Cytokinetics by 14.8% during the 2nd quarter. Bank of Montreal Can now owns 13,392 shares of the biopharmaceutical company’s stock valued at $727,000 after purchasing an additional 1,727 shares in the last quarter. Integral Health Asset Management LLC raised its holdings in shares of Cytokinetics by 122.2% in the second quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $54,180,000 after buying an additional 550,000 shares during the last quarter. Hood River Capital Management LLC lifted its stake in shares of Cytokinetics by 5.9% during the second quarter. Hood River Capital Management LLC now owns 737,637 shares of the biopharmaceutical company’s stock worth $39,965,000 after buying an additional 40,990 shares during the period. Finally, Profund Advisors LLC grew its holdings in shares of Cytokinetics by 95.8% during the second quarter. Profund Advisors LLC now owns 51,921 shares of the biopharmaceutical company’s stock valued at $2,813,000 after buying an additional 25,400 shares during the last quarter.

Cytokinetics Price Performance

NASDAQ:CYTK opened at $53.77 on Monday. The company has a quick ratio of 10.39, a current ratio of 10.39 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 52 week low of $25.98 and a 52 week high of $110.25. The stock’s 50-day moving average price is $56.22 and its 200-day moving average price is $59.18. The stock has a market capitalization of $5.64 billion, a PE ratio of -9.96 and a beta of 0.77.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The business had revenue of $0.25 million during the quarter, compared to the consensus estimate of $7.61 million. The company’s revenue for the quarter was down 71.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.34) earnings per share. As a group, equities analysts expect that Cytokinetics, Incorporated will post -5.15 EPS for the current fiscal year.

Insider Activity at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 11,500 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $54.05, for a total transaction of $621,575.00. Following the completion of the transaction, the chief executive officer now directly owns 405,145 shares in the company, valued at $21,898,087.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Robert I. Blum sold 11,500 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $54.05, for a total transaction of $621,575.00. Following the completion of the sale, the chief executive officer now owns 405,145 shares of the company’s stock, valued at $21,898,087.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Fady Ibraham Malik sold 7,384 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.01, for a total transaction of $420,961.84. Following the transaction, the executive vice president now owns 122,920 shares of the company’s stock, valued at approximately $7,007,669.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 107,837 shares of company stock valued at $6,018,383. 3.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CYTK shares. JPMorgan Chase & Co. raised their target price on Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Truist Financial decreased their target price on Cytokinetics from $86.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a report on Tuesday, September 3rd. B. Riley decreased their price objective on shares of Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, June 4th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Cytokinetics in a report on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Cytokinetics currently has an average rating of “Moderate Buy” and a consensus target price of $80.67.

About Cytokinetics

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.