Algert Global LLC Buys 27,738 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Algert Global LLC lifted its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 63.5% during the second quarter, HoldingsChannel.com reports. The firm owned 71,408 shares of the biopharmaceutical company’s stock after purchasing an additional 27,738 shares during the quarter. Algert Global LLC’s holdings in Cytokinetics were worth $3,869,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC raised its stake in shares of Cytokinetics by 86.8% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 125,271 shares of the biopharmaceutical company’s stock valued at $6,787,000 after purchasing an additional 58,195 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Cytokinetics by 13.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 173,775 shares of the biopharmaceutical company’s stock valued at $9,415,000 after purchasing an additional 20,206 shares during the period. Darwin Global Management Ltd. bought a new stake in shares of Cytokinetics during the 2nd quarter valued at $246,074,000. AQR Capital Management LLC raised its stake in shares of Cytokinetics by 10.5% during the 2nd quarter. AQR Capital Management LLC now owns 33,401 shares of the biopharmaceutical company’s stock valued at $1,810,000 after purchasing an additional 3,168 shares during the period. Finally, Great Point Partners LLC grew its position in Cytokinetics by 134.5% during the second quarter. Great Point Partners LLC now owns 474,202 shares of the biopharmaceutical company’s stock worth $25,692,000 after buying an additional 272,000 shares in the last quarter.

Insider Activity at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $55.90, for a total transaction of $408,070.00. Following the completion of the transaction, the executive vice president now owns 131,004 shares of the company’s stock, valued at approximately $7,323,123.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cytokinetics news, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $55.90, for a total transaction of $408,070.00. Following the completion of the transaction, the executive vice president now owns 131,004 shares of the company’s stock, valued at approximately $7,323,123.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert I. Blum sold 11,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $54.29, for a total value of $624,335.00. Following the transaction, the chief executive officer now directly owns 399,412 shares of the company’s stock, valued at approximately $21,684,077.48. The disclosure for this sale can be found here. Insiders sold 89,037 shares of company stock worth $4,994,252 in the last ninety days. 3.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Needham & Company LLC restated a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research report on Tuesday, September 3rd. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research report on Monday, September 9th. The Goldman Sachs Group cut Cytokinetics from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $85.00 to $60.00 in a research report on Tuesday, August 13th. Finally, HC Wainwright restated a “buy” rating and set a $90.00 target price on shares of Cytokinetics in a research report on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Cytokinetics has an average rating of “Moderate Buy” and an average target price of $80.67.

Cytokinetics Trading Up 0.9 %

Shares of CYTK stock opened at $52.80 on Tuesday. The stock has a market capitalization of $5.54 billion, a PE ratio of -9.78 and a beta of 0.77. Cytokinetics, Incorporated has a 1-year low of $25.98 and a 1-year high of $110.25. The business has a 50-day moving average of $55.71 and a 200 day moving average of $58.67. The company has a debt-to-equity ratio of 5.93, a current ratio of 10.39 and a quick ratio of 10.39.

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

Cytokinetics Company 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.