Exome Asset Management LLC Purchases Shares of 58,583 Cytokinetics, Incorporated (NASDAQ:CYTK)

Exome Asset Management LLC purchased a new position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 58,583 shares of the biopharmaceutical company’s stock, valued at approximately $3,093,000. Cytokinetics makes up about 2.1% of Exome Asset Management LLC’s portfolio, making the stock its 19th biggest holding.

A number of other large investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its stake in Cytokinetics by 21.3% in the third quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company’s stock valued at $3,802,000 after buying an additional 12,565 shares during the period. Westfield Capital Management Co. LP lifted its holdings 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. Ghisallo Capital Management LLC acquired a new position in Cytokinetics in the 2nd quarter valued at $10,619,000. Darwin Global Management Ltd. acquired a new stake in shares of Cytokinetics during the second quarter worth $246,074,000. Finally, WINTON GROUP Ltd bought a new stake in Cytokinetics in the 2nd quarter valued at about $983,000.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. JMP Securities restated a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research report on Wednesday, September 4th. HC Wainwright restated a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a research report on Monday, December 2nd. Royal Bank of Canada assumed coverage on shares of Cytokinetics in a research note on Friday, November 8th. They set an “outperform” rating and a $80.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Cytokinetics presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Cytokinetics Stock Down 3.2 %

CYTK stock opened at $48.65 on Friday. Cytokinetics, Incorporated has a 1-year low of $32.70 and a 1-year high of $110.25. The stock has a market cap of $5.74 billion, a P/E ratio of -9.04 and a beta of 0.80. The stock’s fifty day simple moving average is $52.64 and its two-hundred day simple moving average is $54.00. 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 (NASDAQ:CYTK) last posted its quarterly 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 company had revenue of $0.46 million for the quarter, compared to the consensus estimate of $1.21 million. During the same quarter in the previous year, the business earned ($1.35) earnings per share. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. Analysts expect that Cytokinetics, Incorporated will post -5.25 EPS for the current year.

Insider Activity

In other Cytokinetics news, Director Wendall Wierenga sold 4,452 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $52.25, for a total value of $232,617.00. Following the completion of the transaction, the director now owns 24,559 shares in the company, valued at $1,283,207.75. This trade represents a 15.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $52.10, for a total value of $380,330.00. Following the transaction, the executive vice president now directly owns 118,920 shares of the company’s stock, valued at $6,195,732. The trade was a 5.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,074 shares of company stock valued at $3,887,395 over the last quarter. Company insiders own 3.40% of the company’s stock.

Cytokinetics Profile

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.