Harbor Capital Advisors Inc. Has $2.25 Million Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Harbor Capital Advisors Inc. lifted its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 138.7% during the third quarter, HoldingsChannel reports. The firm owned 42,526 shares of the biopharmaceutical company’s stock after purchasing an additional 24,712 shares during the period. Harbor Capital Advisors Inc.’s holdings in Cytokinetics were worth $2,245,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CYTK. Darwin Global Management Ltd. acquired a new stake in shares of Cytokinetics in the second quarter worth $246,074,000. Westfield Capital Management Co. LP bought a new stake in Cytokinetics in the 1st quarter valued at $51,277,000. Integral Health Asset Management LLC grew its position in Cytokinetics by 122.2% in the 2nd quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $54,180,000 after purchasing an additional 550,000 shares during the last quarter. Iron Triangle Partners LP bought a new position in shares of Cytokinetics during the 1st quarter worth about $21,033,000. Finally, Sarissa Capital Management LP acquired a new position in shares of Cytokinetics during the first quarter valued at about $21,033,000.

Cytokinetics Stock Down 0.7 %

Shares of NASDAQ CYTK opened at $51.48 on Tuesday. Cytokinetics, Incorporated has a 12-month low of $30.68 and a 12-month high of $110.25. The firm’s 50-day simple moving average is $54.29 and its 200 day simple moving average is $55.91. The company has a quick ratio of 10.39, a current ratio of 10.39 and a debt-to-equity ratio of 5.93. The company has a market cap of $6.06 billion, a price-to-earnings ratio of -9.59 and a beta of 0.78.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The firm had revenue of $0.25 million for the quarter, compared to analyst estimates of $7.61 million. Cytokinetics’s revenue was down 71.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.34) earnings per share. On average, research analysts expect that Cytokinetics, Incorporated will post -5.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Cytokinetics

In other news, CEO Robert I. Blum sold 11,500 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $55.17, for a total transaction of $634,455.00. Following the completion of the sale, the chief executive officer now owns 399,412 shares in the company, valued at $22,035,560.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $57.03, for a total value of $285,150.00. Following the transaction, the chief executive officer now directly owns 397,456 shares in the company, valued at $22,666,915.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert I. Blum sold 11,500 shares of Cytokinetics stock in a transaction on Monday, August 12th. The stock was sold at an average price of $55.17, for a total transaction of $634,455.00. Following the sale, the chief executive officer now directly owns 399,412 shares of the company’s stock, valued at $22,035,560.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,236 shares of company stock worth $3,800,944. Insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. JMP Securities restated a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a research note on Wednesday, September 4th. The Goldman Sachs Group lowered Cytokinetics from a “buy” rating to a “neutral” rating and cut their target price for the company from $85.00 to $60.00 in a research note on Tuesday, August 13th. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research note on Thursday, October 17th. JPMorgan Chase & Co. increased their price objective on shares of Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $83.93.

About Cytokinetics

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.