NEOS Investment Management LLC Sells 3,075 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

NEOS Investment Management LLC decreased its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,383 shares of the biopharmaceutical company’s stock after selling 3,075 shares during the period. NEOS Investment Management LLC’s holdings in Cytokinetics were worth $2,229,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harvey Capital Management Inc. purchased a new position in Cytokinetics in the 4th quarter worth about $1,040,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Cytokinetics by 42.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock valued at $69,769,000 after purchasing an additional 395,709 shares during the last quarter. abrdn plc lifted its position in Cytokinetics by 29.4% during the fourth quarter. abrdn plc now owns 450,513 shares of the biopharmaceutical company’s stock valued at $21,192,000 after purchasing an additional 102,457 shares during the period. AlphaQuest LLC boosted its holdings in Cytokinetics by 113,500.0% in the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 1,135 shares during the last quarter. Finally, Retirement Systems of Alabama grew its position in Cytokinetics by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company’s stock worth $6,750,000 after purchasing an additional 565 shares during the period.

Insider Activity

In other news, EVP Andrew Callos sold 3,341 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $43.27, for a total transaction of $144,565.07. Following the sale, the executive vice president now directly owns 64,434 shares of the company’s stock, valued at $2,788,059.18. This represents a 4.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert I. Blum sold 16,970 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 364,181 shares of the company’s stock, valued at approximately $15,820,022.64. This trade represents a 4.45 % 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 over the last 90 days. Corporate insiders own 3.40% of the company’s stock.

Analyst Ratings Changes

CYTK has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a report on Thursday, February 6th. HC Wainwright reissued a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a research report on Friday, February 28th. Evercore ISI raised shares of Cytokinetics to a “strong-buy” rating in a research report on Friday, February 7th. Citigroup started coverage on shares of Cytokinetics in a report on Friday, February 7th. They issued a “buy” rating and a $86.00 price objective on the stock. Finally, Stifel Nicolaus assumed coverage on shares of Cytokinetics in a report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.00.

Cytokinetics Stock Up 0.5 %

NASDAQ CYTK opened at $43.19 on Friday. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 12 month low of $40.53 and a 12 month high of $75.71. The stock’s 50 day moving average is $45.75 and its 200 day moving average is $49.58. The stock has a market cap of $5.11 billion, a PE ratio of -8.03 and a beta of 0.95.

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

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.