8,292 Shares in Cytokinetics, Incorporated (NASDAQ:CYTK) Purchased by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP acquired a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 8,292 shares of the biopharmaceutical company’s stock, valued at approximately $438,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp increased its holdings in shares of Cytokinetics by 642.3% in the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 456 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Cytokinetics by 65.6% in the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 238 shares during the period. Blue Trust Inc. raised its position in shares of Cytokinetics by 225.9% during the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 680 shares during the last quarter. Values First Advisors Inc. acquired a new position in shares of Cytokinetics during the third quarter valued at $54,000. Finally, Bessemer Group Inc. boosted its holdings in Cytokinetics by 25,100.0% in the first quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock valued at $88,000 after acquiring an additional 1,255 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have issued reports on CYTK. Needham & Company LLC restated a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research report on Wednesday, November 20th. HC Wainwright restated a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a report on Monday, November 18th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. JPMorgan Chase & Co. increased their price target on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Finally, Royal Bank of Canada initiated coverage on Cytokinetics in a research note on Friday, November 8th. They set an “outperform” rating and a $80.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Cytokinetics currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Insider Buying and Selling at Cytokinetics

In related news, Director Wendall Wierenga sold 4,452 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $52.25, for a total transaction of $232,617.00. Following the completion of the transaction, the director now directly owns 24,559 shares in the company, valued at approximately $1,283,207.75. This trade represents a 15.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Fady Ibraham Malik sold 7,384 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $57.01, for a total value of $420,961.84. Following the completion of the sale, the executive vice president now owns 122,920 shares in the company, valued at $7,007,669.20. The trade was a 5.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,378 shares of company stock valued at $3,880,287 in the last 90 days. 3.40% of the stock is currently owned by company insiders.

Cytokinetics Stock Performance

Shares of CYTK stock opened at $52.02 on Wednesday. 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 $30.68 and a 52 week high of $110.25. The company’s 50 day moving average price is $53.47 and its two-hundred day moving average price is $54.57. The company has a market capitalization of $6.14 billion, a P/E ratio of -9.67 and a beta of 0.78.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The company had revenue of $0.46 million for the quarter, compared to analyst estimates of $1.21 million. The firm’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.35) EPS. On average, analysts expect that Cytokinetics, Incorporated will post -5.25 earnings per share for the current fiscal year.

About Cytokinetics

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.