GSA Capital Partners LLP Takes Position in Cytokinetics, Inc. (CYTK)
GSA Capital Partners LLP bought a new position in Cytokinetics, Inc. (NASDAQ:CYTK) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 12,900 shares of the biopharmaceutical company’s stock, valued at approximately $187,000.
A number of other large investors have also modified their holdings of CYTK. Janus Henderson Group PLC purchased a new stake in shares of Cytokinetics during the 2nd quarter valued at about $32,488,000. Vanguard Group Inc. increased its position in shares of Cytokinetics by 59.9% during the 2nd quarter. Vanguard Group Inc. now owns 3,117,496 shares of the biopharmaceutical company’s stock valued at $37,721,000 after purchasing an additional 1,168,151 shares during the last quarter. Pinnacle Associates Ltd. purchased a new stake in shares of Cytokinetics during the 3rd quarter valued at about $14,628,000. State Street Corp increased its position in shares of Cytokinetics by 79.6% during the 2nd quarter. State Street Corp now owns 1,674,335 shares of the biopharmaceutical company’s stock valued at $20,259,000 after purchasing an additional 741,909 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of Cytokinetics during the 2nd quarter valued at about $5,172,000. 73.61% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed a “buy” rating and set a $21.00 price target on shares of Cytokinetics in a research report on Monday, September 18th. TheStreet lowered shares of Cytokinetics from a “c” rating to a “d” rating in a research report on Friday, October 27th. HC Wainwright reaffirmed a “buy” rating and set a $26.00 price target on shares of Cytokinetics in a research report on Wednesday, September 20th. Needham & Company LLC lowered shares of Cytokinetics from a “strong-buy” rating to a “buy” rating and reduced their price target for the company from $22.00 to $12.00 in a research report on Tuesday, November 21st. Finally, JMP Securities reaffirmed an “outperform” rating and set a $13.00 price target (down previously from $17.00) on shares of Cytokinetics in a research report on Tuesday, November 21st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $17.64.
Cytokinetics, Inc. (CYTK) opened at $8.85 on Friday. The company has a current ratio of 7.60, a quick ratio of 7.60 and a debt-to-equity ratio of 0.14. Cytokinetics, Inc. has a 52 week low of $7.00 and a 52 week high of $17.20.
Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.64) by $0.04. The company had revenue of $6.18 million during the quarter, compared to the consensus estimate of $5.35 million. Cytokinetics had a negative return on equity of 62.64% and a negative net margin of 172.27%. research analysts predict that Cytokinetics, Inc. will post -2.4 earnings per share for the current fiscal year.
In related news, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $13.51, for a total transaction of $67,550.00. Following the completion of the transaction, the chief executive officer now directly owns 70,180 shares in the company, valued at approximately $948,131.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Fady Ibraham Malik sold 7,321 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $13.39, for a total value of $98,028.19. Following the transaction, the executive vice president now owns 47,540 shares of the company’s stock, valued at $636,560.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,581 shares of company stock valued at $220,703. 7.20% of the stock is currently owned by corporate insiders.
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Cytokinetics, Incorporated is a late-stage biopharmaceutical company. The Company is focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions.
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