Moody Aldrich Partners LLC Lowers Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

Moody Aldrich Partners LLC lessened its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 33.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,731 shares of the biopharmaceutical company’s stock after selling 23,174 shares during the quarter. Moody Aldrich Partners LLC’s holdings in Cytokinetics were worth $2,467,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Darwin Global Management Ltd. purchased a new stake in shares of Cytokinetics in the 2nd quarter worth approximately $246,074,000. Integral Health Asset Management LLC increased its holdings in shares of Cytokinetics by 122.2% during the second quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $54,180,000 after acquiring an additional 550,000 shares in the last quarter. Hood River Capital Management LLC raised its position in shares of Cytokinetics by 5.9% in the 2nd quarter. Hood River Capital Management LLC now owns 737,637 shares of the biopharmaceutical company’s stock worth $39,965,000 after purchasing an additional 40,990 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Cytokinetics in the 1st quarter worth about $51,277,000. Finally, Great Point Partners LLC boosted its stake in Cytokinetics by 134.5% in the 2nd quarter. Great Point Partners LLC now owns 474,202 shares of the biopharmaceutical company’s stock worth $25,692,000 after purchasing an additional 272,000 shares in the last quarter.

Insiders Place Their Bets

In other news, Director B Lynne Parshall sold 5,000 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $59.84, for a total value of $299,200.00. Following the transaction, the director now directly owns 20,600 shares in the company, valued at $1,232,704. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director B Lynne Parshall sold 5,000 shares of Cytokinetics stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $59.84, for a total transaction of $299,200.00. Following the sale, the director now owns 20,600 shares of the company’s stock, valued at approximately $1,232,704. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $54.19, for a total value of $395,587.00. Following the completion of the transaction, the executive vice president now owns 116,920 shares of the company’s stock, valued at $6,335,894.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,284 shares of company stock worth $4,306,652. Corporate insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CYTK shares. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. JPMorgan Chase & Co. boosted their price objective on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a research report on Thursday, October 17th. JMP Securities reissued a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a report on Wednesday, September 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Cytokinetics Stock Performance

NASDAQ CYTK traded up $0.37 during trading hours on Thursday, hitting $53.41. 49,197 shares of the company’s stock traded hands, compared to its average volume of 2,122,389. The company has a current ratio of 10.39, a quick ratio of 10.39 and a debt-to-equity ratio of 5.93. The firm has a market capitalization of $5.60 billion, a P/E ratio of -9.82 and a beta of 0.77. Cytokinetics, Incorporated has a 52 week low of $30.37 and a 52 week high of $110.25. The business’s fifty day moving average price is $55.00 and its two-hundred day moving average price is $57.00.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The company had revenue of $0.25 million for the quarter, compared to the consensus estimate of $7.61 million. The company’s quarterly revenue was down 71.3% compared to the same quarter last year. During the same period last year, the company earned ($1.34) earnings per share. Equities research analysts predict that Cytokinetics, Incorporated will post -5.15 EPS 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.