Murchinson Ltd. Has $2.51 Million Stock Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Murchinson Ltd. decreased its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 57.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 46,380 shares of the biopharmaceutical company’s stock after selling 62,415 shares during the period. Cytokinetics makes up 0.5% of Murchinson Ltd.’s holdings, making the stock its 20th biggest holding. Murchinson Ltd.’s holdings in Cytokinetics were worth $2,513,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vestal Point Capital LP acquired a new position in shares of Cytokinetics during the fourth quarter worth approximately $4,174,000. State of Michigan Retirement System acquired a new stake in shares of Cytokinetics in the 1st quarter valued at $1,690,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Cytokinetics in the 1st quarter valued at $4,703,000. Entropy Technologies LP raised its position in shares of Cytokinetics by 110.6% during the first quarter. Entropy Technologies LP now owns 19,433 shares of the biopharmaceutical company’s stock worth $1,362,000 after acquiring an additional 10,205 shares during the last quarter. Finally, Perceptive Advisors LLC acquired a new position in shares of Cytokinetics during the fourth quarter valued at $2,531,000.

Cytokinetics Trading Down 3.1 %

NASDAQ CYTK opened at $52.09 on Tuesday. Cytokinetics, Incorporated has a one year low of $25.98 and a one year high of $110.25. The company has a debt-to-equity ratio of 5.93, a current ratio of 10.39 and a quick ratio of 10.39. The firm has a market cap of $5.46 billion, a P/E ratio of -9.65 and a beta of 0.77. The stock’s 50-day moving average is $56.11 and its 200-day moving average is $59.09.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $7.61 million. The business’s revenue for the quarter was down 71.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.34) EPS. Sell-side analysts anticipate that Cytokinetics, Incorporated will post -5.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director B Lynne Parshall sold 5,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $54.22, for a total value of $271,100.00. Following the completion of the transaction, the director now directly owns 20,600 shares of the company’s stock, valued at approximately $1,116,932. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Fady Ibraham Malik sold 7,384 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $57.01, for a total value of $420,961.84. Following the sale, the executive vice president now owns 122,920 shares of the company’s stock, valued at $7,007,669.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director B Lynne Parshall sold 5,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $54.22, for a total transaction of $271,100.00. Following the transaction, the director now owns 20,600 shares of the company’s stock, valued at approximately $1,116,932. The disclosure for this sale can be found here. Insiders have sold a total of 100,537 shares of company stock worth $5,626,227 over the last ninety days. Company insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

CYTK has been the subject of a number of research reports. JMP Securities reiterated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research report on Wednesday, September 4th. JPMorgan Chase & Co. lifted their price target on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Truist Financial cut their price objective on shares of Cytokinetics from $86.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. The Goldman Sachs Group cut shares of Cytokinetics from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $85.00 to $60.00 in a research note on Tuesday, August 13th. Finally, B. Riley reduced their price target on Cytokinetics from $122.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. One equities 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $80.67.

Cytokinetics Profile

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.