Zimmer Partners LP Reduces Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Zimmer Partners LP lessened its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 16.3% during the 3rd quarter, Holdings Channel reports. The firm owned 77,200 shares of the biopharmaceutical company’s stock after selling 15,000 shares during the quarter. Zimmer Partners LP’s holdings in Cytokinetics were worth $4,076,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Darwin Global Management Ltd. purchased a new stake in Cytokinetics during the 2nd quarter worth approximately $246,074,000. Charles Schwab Investment Management Inc. grew its position in Cytokinetics by 42.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock worth $69,769,000 after purchasing an additional 395,709 shares during the last quarter. Westfield Capital Management Co. LP grew its position in Cytokinetics by 38.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock worth $64,040,000 after purchasing an additional 339,373 shares during the last quarter. Janus Henderson Group PLC grew 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 purchasing an additional 167,501 shares during the last quarter. Finally, Integral Health Asset Management LLC grew its position in Cytokinetics by 122.2% during the 2nd quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $54,180,000 after purchasing an additional 550,000 shares during the last quarter.

Cytokinetics Price Performance

Shares of NASDAQ CYTK opened at $50.96 on Friday. The firm has a 50-day simple moving average of $53.04 and a 200-day simple moving average of $54.10. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 52 week low of $32.70 and a 52 week high of $110.25.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results 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 firm had revenue of $0.46 million for the quarter, compared to analyst estimates of $1.21 million. The firm’s revenue was up 22.5% on a year-over-year basis. During the same period last year, the business earned ($1.35) EPS. Equities research analysts predict that Cytokinetics, Incorporated will post -5.25 EPS for the current year.

Insider Activity

In related news, CEO Robert I. Blum sold 5,000 shares of the company’s 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 completion of the sale, the chief executive officer now owns 397,456 shares of the company’s stock, valued at approximately $20,723,355.84. This represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $50.16, for a total transaction of $366,168.00. Following the completion of the sale, the executive vice president now directly owns 111,878 shares of the company’s stock, valued at $5,611,800.48. This represents a 6.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,994 shares of company stock worth $3,427,975 over the last three months. Insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CYTK. JPMorgan Chase & Co. boosted their target price on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Mizuho upped their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a report on Monday, December 2nd. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Wednesday, September 4th. Finally, The Goldman Sachs Group downgraded shares of Cytokinetics from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $85.00 to $60.00 in a report on Tuesday, August 13th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

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.