Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Sold by Silphium Asset Management Ltd

Silphium Asset Management Ltd reduced its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 59.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 30,000 shares of the biopharmaceutical company’s stock after selling 43,564 shares during the period. Silphium Asset Management Ltd’s holdings in Cytokinetics were worth $1,411,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp grew its position in shares of Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 374 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Cytokinetics during the 4th quarter valued at about $29,000. Blue Trust Inc. grew its position in shares of Cytokinetics by 85.8% during the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company’s stock valued at $86,000 after acquiring an additional 842 shares during the period. R Squared Ltd acquired a new stake in shares of Cytokinetics during the 4th quarter valued at about $133,000. Finally, Quarry LP grew its position in shares of Cytokinetics by 50.0% during the 3rd quarter. Quarry LP now owns 3,000 shares of the biopharmaceutical company’s stock valued at $158,000 after acquiring an additional 1,000 shares during the period.

Cytokinetics Trading Down 3.1 %

CYTK opened at $46.00 on Monday. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of -8.55 and a beta of 0.83. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The company’s 50 day simple moving average is $47.22 and its two-hundred day simple moving average is $51.22. Cytokinetics, Incorporated has a 1-year low of $40.53 and a 1-year high of $75.71.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, beating the consensus estimate of ($1.29) by $0.03. The firm had revenue of $16.93 million for the quarter, compared to analysts’ expectations of $14.26 million. Analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Insider Activity

In other news, Director Wendall Wierenga sold 742 shares of Cytokinetics stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $48.61, for a total transaction of $36,068.62. Following the sale, the director now owns 24,559 shares of the company’s stock, valued at approximately $1,193,812.99. The trade was a 2.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $50.64, for a total transaction of $369,672.00. Following the sale, the executive vice president now directly owns 116,071 shares in the company, valued at approximately $5,877,835.44. The trade was a 5.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,822 shares of company stock valued at $874,048. 3.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Stifel Nicolaus assumed coverage on Cytokinetics in a research report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 target price on the stock. Royal Bank of Canada lifted their price objective on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a report on Thursday, February 6th. Morgan Stanley upgraded Cytokinetics from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $70.00 to $67.00 in a report on Thursday, February 13th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $82.00.

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.