Havemeyer Place LP Takes Position in Cytokinetics, Incorporated $CYTK

Havemeyer Place LP bought a new stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,923 shares of the biopharmaceutical company’s stock, valued at approximately $503,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CYTK. Millennium Management LLC raised its position in shares of Cytokinetics by 361.9% in the first quarter. Millennium Management LLC now owns 287,901 shares of the biopharmaceutical company’s stock valued at $11,571,000 after purchasing an additional 225,576 shares during the period. Cetera Investment Advisers increased its holdings in Cytokinetics by 12.4% during the 2nd quarter. Cetera Investment Advisers now owns 6,635 shares of the biopharmaceutical company’s stock worth $219,000 after acquiring an additional 731 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Cytokinetics by 723.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 673 shares during the period. Gabelli Funds LLC increased its holdings in Cytokinetics by 29.4% during the 2nd quarter. Gabelli Funds LLC now owns 8,410 shares of the biopharmaceutical company’s stock worth $278,000 after acquiring an additional 1,910 shares during the period. Finally, California Public Employees Retirement System increased its holdings in Cytokinetics by 10.8% during the 2nd quarter. California Public Employees Retirement System now owns 142,602 shares of the biopharmaceutical company’s stock worth $4,712,000 after acquiring an additional 13,911 shares during the period.

Cytokinetics Stock Up 0.8%

NASDAQ:CYTK opened at $68.45 on Wednesday. The company has a fifty day moving average of $70.18 and a 200 day moving average of $65.98. Cytokinetics, Incorporated has a 52 week low of $31.99 and a 52 week high of $80.20. The firm has a market capitalization of $8.52 billion, a P/E ratio of -10.01 and a beta of 0.42.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) EPS for the quarter, hitting the consensus estimate of ($1.67). The company had revenue of $19.36 million during the quarter, compared to the consensus estimate of $8.52 million. During the same quarter last year, the company posted ($1.36) earnings per share. The firm’s revenue for the quarter was up 1112.5% compared to the same quarter last year. As a group, analysts anticipate that Cytokinetics, Incorporated will post -6.29 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CYTK. Needham & Company LLC upped their target price on shares of Cytokinetics from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Bank of America reaffirmed a “neutral” rating on shares of Cytokinetics in a report on Wednesday, February 25th. HC Wainwright upped their target price on shares of Cytokinetics from $136.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Stifel Nicolaus boosted their price target on shares of Cytokinetics from $98.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley boosted their price target on shares of Cytokinetics from $90.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.30.

Insider Buying and Selling

In related news, EVP Andrew Callos sold 15,857 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $65.00, for a total value of $1,030,705.00. Following the completion of the transaction, the executive vice president directly owned 58,555 shares in the company, valued at $3,806,075. This trade represents a 21.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Fady Ibraham Malik sold 12,033 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $62.15, for a total transaction of $747,850.95. Following the completion of the transaction, the executive vice president owned 153,902 shares of the company’s stock, valued at approximately $9,565,009.30. The trade was a 7.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 171,989 shares of company stock worth $11,393,064 in the last three months. 2.60% of the stock is owned by corporate insiders.

Cytokinetics Company Profile

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.