AlphaCentric Advisors LLC Makes New $660,000 Investment in Cytokinetics, Incorporated (NASDAQ:CYTK)

AlphaCentric Advisors LLC acquired a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,500 shares of the biopharmaceutical company’s stock, valued at approximately $660,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CYTK. J.Safra Asset Management Corp grew its holdings in Cytokinetics by 642.3% during the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 456 shares during the period. UMB Bank n.a. increased its stake in shares of Cytokinetics by 65.6% in the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 238 shares during the last quarter. Blue Trust Inc. grew its position in Cytokinetics by 225.9% in the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 680 shares during the period. Values First Advisors Inc. acquired a new position in shares of Cytokinetics in the 3rd quarter worth approximately $54,000. Finally, EntryPoint Capital LLC acquired a new position in Cytokinetics in the 1st quarter valued at about $74,000.

Analyst Ratings Changes

A number of brokerages have commented on CYTK. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a research report on Thursday, October 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. The Goldman Sachs Group downgraded shares of Cytokinetics from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $85.00 to $60.00 in a research report on Tuesday, August 13th. JMP Securities restated a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. raised their target price on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $83.93.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, Director B Lynne Parshall sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $55.20, for a total value of $276,000.00. Following the sale, the director now owns 20,600 shares of the company’s stock, valued at $1,137,120. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $51.91, for a total transaction of $378,943.00. Following the sale, the executive vice president now directly owns 114,920 shares in the company, valued at approximately $5,965,497.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director B Lynne Parshall sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $55.20, for a total value of $276,000.00. Following the transaction, the director now owns 20,600 shares of the company’s stock, valued at $1,137,120. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,236 shares of company stock worth $3,800,944 over the last 90 days. Insiders own 3.40% of the company’s stock.

Cytokinetics Stock Performance

Shares of NASDAQ:CYTK opened at $51.48 on Tuesday. The firm has a 50 day simple moving average of $54.29 and a 200 day simple moving average of $55.91. The company has a debt-to-equity ratio of 5.93, a quick ratio of 10.39 and a current ratio of 10.39. Cytokinetics, Incorporated has a 52 week low of $30.68 and a 52 week high of $110.25.

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

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.