Centricity Wealth Management LLC Acquires New Shares in Cytokinetics, Incorporated (NASDAQ:CYTK)

Centricity Wealth Management LLC bought a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 624 shares of the biopharmaceutical company’s stock, valued at approximately $29,000.

Several other institutional investors have also recently bought and sold shares of CYTK. Blue Trust Inc. grew its holdings in shares of Cytokinetics by 225.9% during the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 680 shares during the last quarter. Values First Advisors Inc. acquired a new stake in Cytokinetics in the third quarter valued at approximately $54,000. R Squared Ltd bought a new stake in shares of Cytokinetics during the fourth quarter worth $133,000. Quarry LP grew its stake in shares of Cytokinetics by 50.0% during the third quarter. Quarry LP now owns 3,000 shares of the biopharmaceutical company’s stock worth $158,000 after buying an additional 1,000 shares during the last quarter. Finally, Avior Wealth Management LLC increased its holdings in shares of Cytokinetics by 57.1% during the third quarter. Avior Wealth Management LLC now owns 3,999 shares of the biopharmaceutical company’s stock worth $211,000 after buying an additional 1,454 shares in the last quarter.

Insider Buying and Selling

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $45.98, for a total value of $91,960.00. Following the transaction, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at approximately $5,336,944.58. The trade was a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wendall Wierenga sold 742 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $48.61, for a total transaction of $36,068.62. Following the sale, the director now directly owns 24,559 shares of the company’s stock, valued at approximately $1,193,812.99. This trade represents a 2.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,122 shares of company stock valued at $1,494,016 over the last 90 days. Company insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CYTK. Needham & Company LLC reissued a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a report on Thursday, February 6th. HC Wainwright restated a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a report on Tuesday, January 21st. Stifel Nicolaus assumed coverage on Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price objective for the company. Citigroup began coverage on shares of Cytokinetics in a research report on Friday, February 7th. They set a “buy” rating and a $86.00 target price on the stock. Finally, Evercore ISI raised shares of Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cytokinetics presently has a consensus rating of “Moderate Buy” and an average target price of $82.00.

Cytokinetics Stock Performance

Shares of Cytokinetics stock opened at $50.26 on Friday. The company has a market cap of $5.93 billion, a P/E ratio of -9.34 and a beta of 0.83. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The business has a 50-day moving average price of $47.29 and a two-hundred day moving average price of $51.53. Cytokinetics, Incorporated has a 1-year low of $40.53 and a 1-year high of $81.36.

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.