BIT Capital GmbH Makes New $907,000 Investment in Cytokinetics, Incorporated (NASDAQ:CYTK)

BIT Capital GmbH bought a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 19,283 shares of the biopharmaceutical company’s stock, valued at approximately $907,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Cytokinetics by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock worth $560,520,000 after purchasing an additional 154,216 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Cytokinetics by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock worth $150,433,000 after acquiring an additional 109,938 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Cytokinetics by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,335,189 shares of the biopharmaceutical company’s stock valued at $62,807,000 after acquiring an additional 13,798 shares during the period. Janus Henderson Group PLC boosted its stake in Cytokinetics by 17.2% during the third quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock worth $60,399,000 after acquiring an additional 167,501 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Cytokinetics by 13.7% in the fourth quarter. Fisher Asset Management LLC now owns 616,492 shares of the biopharmaceutical company’s stock worth $29,000,000 after purchasing an additional 74,208 shares during the period.

Insider Buying and Selling at Cytokinetics

In related news, CEO Robert I. Blum sold 16,970 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $43.44, for a total transaction of $737,176.80. Following the completion of the sale, the chief executive officer now directly owns 364,181 shares in the company, valued at approximately $15,820,022.64. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $45.92, for a total transaction of $91,840.00. Following the completion of the transaction, the executive vice president now owns 116,071 shares in the company, valued at $5,329,980.32. The trade was a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,834 shares of company stock worth $1,949,275 in the last three months. 3.40% of the stock is currently owned by company insiders.

Cytokinetics Trading Down 2.1 %

NASDAQ:CYTK opened at $43.63 on Thursday. The company has a market cap of $5.17 billion, a PE ratio of -8.11 and a beta of 0.95. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The company has a 50 day simple moving average of $45.88 and a two-hundred day simple moving average of $49.71. Cytokinetics, Incorporated has a 12 month low of $40.53 and a 12 month high of $75.71.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, topping the consensus estimate of ($1.29) by $0.03. The firm had revenue of $16.93 million during the quarter, compared to the consensus estimate of $14.26 million. Research analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research report on Friday, February 28th. JMP Securities reissued a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a report on Friday, February 7th. Needham & Company LLC restated a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a report on Thursday, February 6th. Stifel Nicolaus began coverage on Cytokinetics in a research report on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price target for the company. Finally, Royal Bank of Canada increased their price objective on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.00.

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.