Oak Ridge Investments LLC Cuts Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Oak Ridge Investments LLC cut its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 16.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,864 shares of the biopharmaceutical company’s stock after selling 2,907 shares during the quarter. Oak Ridge Investments LLC’s holdings in Cytokinetics were worth $699,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CYTK. UMB Bank n.a. lifted its holdings in Cytokinetics by 65.6% in the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 238 shares during the period. Blue Trust Inc. increased its holdings in shares of Cytokinetics by 225.9% in 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 in the last quarter. Values First Advisors Inc. acquired a new stake in shares of Cytokinetics in the third quarter valued at about $54,000. Quarry LP lifted its stake in shares of Cytokinetics by 233.3% in the second quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock valued at $108,000 after purchasing an additional 1,400 shares during the period. Finally, Avior Wealth Management LLC boosted its holdings in 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, Director John T. Henderson sold 1,780 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $50.42, for a total value of $89,747.60. Following the completion of the transaction, the director now directly owns 38,461 shares of the company’s stock, valued at $1,939,203.62. This represents a 4.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Wendall Wierenga sold 742 shares of Cytokinetics stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $48.61, for a total value of $36,068.62. Following the sale, the director now directly owns 24,559 shares in the company, valued at approximately $1,193,812.99. The trade was a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,216 shares of company stock valued at $2,707,436. 3.40% of the stock is currently owned by company insiders.

Cytokinetics Stock Performance

NASDAQ CYTK opened at $45.74 on Monday. 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 company has a market capitalization of $5.40 billion, a PE ratio of -8.50 and a beta of 0.82. The business’s 50-day moving average price is $49.59 and its 200 day moving average price is $53.21. Cytokinetics, Incorporated has a twelve month low of $44.49 and a twelve month high of $86.63.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The company had revenue of $0.46 million for the quarter, compared to analyst estimates of $1.21 million. During the same quarter in the previous year, the company earned ($1.35) earnings per share. The business’s revenue was up 22.5% on a year-over-year basis. On average, research analysts predict that Cytokinetics, Incorporated will post -5.23 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CYTK. JMP Securities reiterated a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a research report on Tuesday, January 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a report on Monday, December 2nd. HC Wainwright reissued a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a report on Friday, January 10th. Royal Bank of Canada lifted their price target on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Finally, Mizuho raised their target price on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.64.

Cytokinetics Company 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.