Profund Advisors LLC Purchases 13,712 Shares of Cytokinetics, Incorporated $CYTK

Profund Advisors LLC lifted its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 52.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 39,642 shares of the biopharmaceutical company’s stock after acquiring an additional 13,712 shares during the quarter. Profund Advisors LLC’s holdings in Cytokinetics were worth $2,519,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Cytokinetics by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 12,048,131 shares of the biopharmaceutical company’s stock worth $765,538,000 after acquiring an additional 191,336 shares in the last quarter. Deep Track Capital LP grew its stake in shares of Cytokinetics by 17.8% in the 3rd quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company’s stock worth $236,328,000 after acquiring an additional 650,000 shares in the last quarter. Vestal Point Capital LP grew its stake in shares of Cytokinetics by 14.8% in the 2nd quarter. Vestal Point Capital LP now owns 2,975,000 shares of the biopharmaceutical company’s stock worth $98,294,000 after acquiring an additional 384,469 shares in the last quarter. Woodline Partners LP grew its stake in shares of Cytokinetics by 676.1% in the 3rd quarter. Woodline Partners LP now owns 1,647,725 shares of the biopharmaceutical company’s stock worth $90,559,000 after acquiring an additional 1,435,422 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Cytokinetics by 2.0% in the 3rd quarter. Northern Trust Corp now owns 1,406,832 shares of the biopharmaceutical company’s stock worth $77,319,000 after acquiring an additional 27,641 shares in the last quarter.

Analyst Ratings Changes

Several research firms have recently issued reports on CYTK. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytokinetics in a research note on Monday, April 20th. 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 report on Wednesday, May 6th. Robert W. Baird set a $84.00 price target on shares of Cytokinetics in a report on Tuesday, March 10th. Wall Street Zen raised shares of Cytokinetics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Citizens Jmp boosted their price target on shares of Cytokinetics from $88.00 to $96.00 and gave the stock a “market outperform” rating in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $99.30.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 7,500 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $77.92, for a total transaction of $584,400.00. Following the sale, the chief executive officer directly owned 400,330 shares of the company’s stock, valued at $31,193,713.60. This represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Fady Ibraham Malik sold 3,500 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $77.37, for a total transaction of $270,795.00. Following the sale, the executive vice president directly owned 153,902 shares in the company, valued at approximately $11,907,397.74. This trade represents a 2.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 177,476 shares of company stock valued at $11,294,769 over the last three months. 2.60% of the stock is currently owned by insiders.

Cytokinetics Stock Performance

Shares of NASDAQ:CYTK opened at $76.45 on Wednesday. The company’s 50-day moving average is $66.51 and its 200 day moving average is $64.83. The company has a market capitalization of $9.51 billion, a P/E ratio of -11.18 and a beta of 0.38. Cytokinetics, Incorporated has a fifty-two week low of $29.81 and a fifty-two week high of $80.20.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, hitting analysts’ consensus estimates of ($1.67). The company had revenue of $19.36 million during the quarter, compared to analysts’ expectations of $8.52 million. Cytokinetics’s quarterly revenue was up 1112.5% compared to the same quarter last year. During the same period last year, the firm posted ($1.36) earnings per share. As a group, research analysts predict that Cytokinetics, Incorporated will post -6.27 earnings per share for the current year.

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.