Great Lakes Advisors LLC Invests $1.58 Million in Cytokinetics, Incorporated (NASDAQ:CYTK)

Great Lakes Advisors LLC bought a new position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 33,589 shares of the biopharmaceutical company’s stock, valued at approximately $1,580,000.

Several other hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in shares of Cytokinetics by 4.0% during the third quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock worth $150,433,000 after purchasing an additional 109,938 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Cytokinetics by 1.0% in the fourth 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 last quarter. Westfield Capital Management Co. LP increased its stake in Cytokinetics by 38.9% in the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock valued at $64,040,000 after acquiring an additional 339,373 shares during the last quarter. Janus Henderson Group PLC increased its stake in Cytokinetics by 17.2% in the third quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock valued at $60,399,000 after acquiring an additional 167,501 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in Cytokinetics by 13.7% in the fourth quarter. Fisher Asset Management LLC now owns 616,492 shares of the biopharmaceutical company’s stock valued at $29,000,000 after acquiring an additional 74,208 shares during the last quarter.

Insider Activity at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 2,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $49.32, for a total value of $98,640.00. Following the transaction, the executive vice president now owns 116,071 shares in the company, valued at $5,724,621.72. The trade was a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wendall Wierenga sold 742 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $48.61, for a total transaction of $36,068.62. Following the completion of the transaction, the director now owns 24,559 shares in the company, valued at approximately $1,193,812.99. The trade was a 2.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,153 shares of company stock worth $1,300,870 over the last quarter. Company insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

CYTK has been the topic of a number of recent analyst reports. JMP Securities reissued a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research note on Friday, February 7th. HC Wainwright reissued a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a research note on Friday, February 28th. Mizuho lifted their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a research note on Thursday, February 6th. Finally, Royal Bank of Canada boosted their target price on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Cytokinetics currently has an average rating of “Moderate Buy” and an average target price of $82.00.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK opened at $44.36 on Friday. The firm has a market cap of $5.25 billion, a PE ratio of -8.25 and a beta of 0.95. The firm’s fifty day moving average is $46.34 and its 200-day moving average is $50.35. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. Cytokinetics, Incorporated has a 52 week low of $40.53 and a 52 week high of $75.71.

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