Eventide Asset Management LLC Has $30.47 Million Position in Cytokinetics, Incorporated $CYTK

Eventide Asset Management LLC lifted its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 181.9% during the fourth quarter, Holdings Channel reports. The fund owned 479,611 shares of the biopharmaceutical company’s stock after buying an additional 309,503 shares during the quarter. Eventide Asset Management LLC’s holdings in Cytokinetics were worth $30,473,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CYTK. Millennium Management LLC increased its stake in Cytokinetics by 361.9% during the 1st 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 in the last quarter. Cetera Investment Advisers increased its stake in Cytokinetics by 12.4% during the 2nd quarter. Cetera Investment Advisers now owns 6,635 shares of the biopharmaceutical company’s stock valued at $219,000 after purchasing an additional 731 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Cytokinetics by 723.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 673 shares in the last quarter. Gabelli Funds LLC increased its stake in Cytokinetics by 29.4% during the 2nd quarter. Gabelli Funds LLC now owns 8,410 shares of the biopharmaceutical company’s stock valued at $278,000 after purchasing an additional 1,910 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake 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 valued at $4,712,000 after purchasing an additional 13,911 shares in the last quarter.

Insider Transactions at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 3,500 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $67.98, for a total value of $237,930.00. Following the completion of the sale, the executive vice president owned 153,902 shares in the company, valued at $10,462,257.96. This represents a 2.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director B Lynne Parshall sold 5,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $74.08, for a total transaction of $370,400.00. Following the completion of the sale, the director owned 15,784 shares of the company’s stock, valued at approximately $1,169,278.72. The trade was a 24.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 171,989 shares of company stock worth $11,393,064. 2.60% of the stock is owned by insiders.

Cytokinetics Price Performance

NASDAQ CYTK opened at $70.15 on Friday. Cytokinetics, Incorporated has a 1 year low of $31.99 and a 1 year high of $80.20. The firm has a market cap of $8.73 billion, a price-to-earnings ratio of -10.26 and a beta of 0.42. The company has a fifty day moving average price of $70.40 and a 200-day moving average price of $66.06.

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Truist Financial set a $106.00 price target on shares of Cytokinetics in a research note on Tuesday, May 5th. HC Wainwright boosted their price target on shares of Cytokinetics from $136.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Morgan Stanley boosted their price target on shares of Cytokinetics from $90.00 to $103.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. UBS Group set a $119.00 price target on shares of Cytokinetics in a research note on Wednesday, May 6th. Finally, Citizens Jmp boosted their price target on shares of Cytokinetics from $88.00 to $96.00 and gave the company a “market outperform” rating in a research note on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Cytokinetics presently has an average rating of “Moderate Buy” and an average target price of $99.30.

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.