Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Bought by Checkpoint Capital L.P.

Checkpoint Capital L.P. lifted its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 145.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 466,813 shares of the biopharmaceutical company’s stock after purchasing an additional 276,813 shares during the period. Cytokinetics comprises 12.2% of Checkpoint Capital L.P.’s portfolio, making the stock its 4th largest position. Checkpoint Capital L.P.’s holdings in Cytokinetics were worth $24,648,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. J.Safra Asset Management Corp increased its stake in Cytokinetics by 642.3% during the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 456 shares during the period. UMB Bank n.a. grew its stake in shares of Cytokinetics by 65.6% during the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 238 shares in the last quarter. Blue Trust Inc. increased 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 in the third quarter worth about $54,000. Finally, Quarry LP boosted its holdings in Cytokinetics by 233.3% in the second quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock valued at $108,000 after purchasing an additional 1,400 shares during the last quarter.

Insiders Place Their Bets

In related news, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $50.55, for a total transaction of $252,750.00. Following the sale, the chief executive officer now directly owns 397,456 shares in the company, valued at $20,091,400.80. The trade was a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Fady Ibraham Malik sold 6,342 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $58.48, for a total transaction of $370,880.16. Following the completion of the sale, the executive vice president now directly owns 113,878 shares of the company’s stock, valued at $6,659,585.44. The trade was a 5.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,378 shares of company stock worth $3,880,287. Insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CYTK shares. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. JPMorgan Chase & Co. lifted their price target on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Mizuho increased 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. The Goldman Sachs Group downgraded shares of Cytokinetics from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $85.00 to $60.00 in a research report on Tuesday, August 13th. Finally, HC Wainwright restated a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Cytokinetics currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Cytokinetics Trading Down 0.7 %

NASDAQ:CYTK opened at $51.86 on Monday. The firm has a market capitalization of $6.12 billion, a P/E ratio of -9.64 and a beta of 0.78. The business has a 50 day simple moving average of $53.21 and a 200 day simple moving average of $54.39. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. Cytokinetics, Incorporated has a 12-month low of $32.35 and a 12-month high of $110.25.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The firm had revenue of $0.46 million for the quarter, compared to the consensus estimate of $1.21 million. During the same period last year, the business posted ($1.35) earnings per share. The business’s revenue for the quarter was up 22.5% on a year-over-year basis. Equities research analysts predict that Cytokinetics, Incorporated will post -5.25 EPS 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.