Moody Aldrich Partners LLC Cuts Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Moody Aldrich Partners LLC decreased its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 33.2% during the third quarter, HoldingsChannel.com reports. The fund owned 46,731 shares of the biopharmaceutical company’s stock after selling 23,174 shares during the quarter. Moody Aldrich Partners LLC’s holdings in Cytokinetics were worth $2,467,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Darwin Global Management Ltd. bought a new stake in shares of Cytokinetics in the 2nd quarter worth about $246,074,000. Integral Health Asset Management LLC lifted its holdings in shares of Cytokinetics by 122.2% in the 2nd quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $54,180,000 after acquiring an additional 550,000 shares during the last quarter. Hood River Capital Management LLC grew its position in Cytokinetics by 5.9% in the second quarter. Hood River Capital Management LLC now owns 737,637 shares of the biopharmaceutical company’s stock worth $39,965,000 after acquiring an additional 40,990 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in Cytokinetics during the first quarter worth approximately $51,277,000. Finally, Great Point Partners LLC raised its position in Cytokinetics by 134.5% during the second quarter. Great Point Partners LLC now owns 474,202 shares of the biopharmaceutical company’s stock valued at $25,692,000 after purchasing an additional 272,000 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CYTK. JMP Securities reiterated a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a report on Wednesday, September 4th. The Goldman Sachs Group cut shares of Cytokinetics from a “buy” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $60.00 in a research report on Tuesday, August 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. upped their target price on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.93.

Cytokinetics Stock Up 0.7 %

Shares of CYTK traded up $0.37 during midday trading on Thursday, reaching $53.41. 49,197 shares of the stock were exchanged, compared to its average volume of 2,122,389. The company has a market capitalization of $5.60 billion, a P/E ratio of -9.82 and a beta of 0.77. The company has a current ratio of 10.39, a quick ratio of 10.39 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 52 week low of $30.37 and a 52 week high of $110.25. The company’s 50 day moving average is $55.00 and its two-hundred day moving average is $57.00.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The business had revenue of $0.25 million for the quarter, compared to the consensus estimate of $7.61 million. During the same quarter last year, the firm posted ($1.34) EPS. Cytokinetics’s quarterly revenue was down 71.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Cytokinetics, Incorporated will post -5.15 earnings per share for the current year.

Insider Activity

In related news, EVP Fady Ibraham Malik sold 7,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $53.71, for a total value of $392,083.00. Following the completion of the transaction, the executive vice president now owns 121,704 shares of the company’s stock, valued at $6,536,721.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Cytokinetics news, EVP Fady Ibraham Malik sold 7,300 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $53.71, for a total value of $392,083.00. Following the completion of the transaction, the executive vice president now directly owns 121,704 shares in the company, valued at approximately $6,536,721.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert I. Blum sold 11,500 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $59.49, for a total transaction of $684,135.00. Following the completion of the sale, the chief executive officer now owns 399,412 shares in the company, valued at $23,761,019.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,284 shares of company stock worth $4,306,652. Corporate insiders own 3.40% of the company’s stock.

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.