XTX Topco Ltd Makes New Investment in Cytokinetics, Incorporated (NASDAQ:CYTK)

XTX Topco Ltd purchased a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,871 shares of the biopharmaceutical company’s stock, valued at approximately $521,000.

Other hedge funds also recently modified their holdings of the company. Two Sigma Advisers LP bought a new position in Cytokinetics in the third quarter valued at about $11,336,000. Stifel Financial Corp increased its stake in shares of Cytokinetics by 8.5% in the third quarter. Stifel Financial Corp now owns 25,067 shares of the biopharmaceutical company’s stock valued at $1,324,000 after buying an additional 1,959 shares during the period. Quarry LP raised its holdings in Cytokinetics by 50.0% in the 3rd quarter. Quarry LP now owns 3,000 shares of the biopharmaceutical company’s stock valued at $158,000 after buying an additional 1,000 shares during the last quarter. Janus Henderson Group PLC boosted its position in Cytokinetics by 17.2% during the 3rd quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock worth $60,399,000 after buying an additional 167,501 shares during the period. Finally, HighVista Strategies LLC bought a new stake in Cytokinetics during the 3rd quarter worth approximately $531,000.

Insiders Place Their Bets

In other news, EVP Fady Ibraham Malik sold 7,300 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $52.10, for a total transaction of $380,330.00. Following the completion of the sale, the executive vice president now directly owns 118,920 shares of the company’s stock, valued at $6,195,732. The trade was a 5.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $52.14, for a total value of $260,700.00. Following the transaction, the chief executive officer now owns 397,456 shares of the company’s stock, valued at $20,723,355.84. This trade represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,074 shares of company stock worth $3,887,395. Corporate insiders own 3.40% of the company’s stock.

Cytokinetics Stock Down 3.2 %

Shares of NASDAQ CYTK opened at $48.65 on Friday. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The firm has a market cap of $5.74 billion, a PE ratio of -9.04 and a beta of 0.80. The company’s fifty day simple moving average is $52.64 and its 200 day simple moving average is $54.00. Cytokinetics, Incorporated has a 12-month low of $32.70 and a 12-month high of $110.25.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share 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 analysts’ expectations of $1.21 million. The company’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.35) EPS. As a group, sell-side analysts forecast that Cytokinetics, Incorporated will post -5.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Mizuho raised their price target 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 reaffirmed a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research report on Monday, December 2nd. HC Wainwright reiterated a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research report on Monday, December 2nd. JMP Securities restated a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research report on Wednesday, September 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Cytokinetics presently has an average rating of “Moderate Buy” and an average price target of $83.93.

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.