BIT Capital GmbH Takes Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

BIT Capital GmbH purchased a new stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 19,283 shares of the biopharmaceutical company's stock, valued at approximately $907,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in Cytokinetics by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company's stock valued at $560,520,000 after acquiring an additional 154,216 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Cytokinetics by 4.0% during the third quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company's stock valued at $150,433,000 after purchasing an additional 109,938 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Cytokinetics by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,335,189 shares of the biopharmaceutical company's stock worth $62,807,000 after purchasing an additional 13,798 shares during the period. Janus Henderson Group PLC grew its position in Cytokinetics by 17.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company's stock valued at $60,399,000 after buying an additional 167,501 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Cytokinetics by 13.7% during the 4th quarter. Fisher Asset Management LLC now owns 616,492 shares of the biopharmaceutical company's stock worth $29,000,000 after buying an additional 74,208 shares in the last quarter.

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Insider Buying and Selling

In other Cytokinetics news, CEO Robert I. Blum sold 16,970 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $43.44, for a total transaction of $737,176.80. Following the completion of the sale, the chief executive officer now directly owns 364,181 shares in the company, valued at $15,820,022.64. This represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew Callos sold 3,341 shares of Cytokinetics stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $43.27, for a total value of $144,565.07. Following the completion of the transaction, the executive vice president now owns 64,434 shares in the company, valued at $2,788,059.18. The trade was a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,834 shares of company stock valued at $1,949,275. Company insiders own 3.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CYTK shares. Evercore ISI upgraded shares of Cytokinetics to a "strong-buy" rating in a research note on Friday, February 7th. Needham & Company LLC reissued a "buy" rating and issued a $72.00 price objective on shares of Cytokinetics in a research note on Thursday, February 6th. Morgan Stanley set a $67.00 target price on Cytokinetics in a research note on Friday, March 7th. Citigroup assumed coverage on Cytokinetics in a report on Friday, February 7th. They issued a "buy" rating and a $86.00 target price on the stock. Finally, JMP Securities reissued a "market outperform" rating and issued a $78.00 target price on shares of Cytokinetics in a research report on Friday, February 7th. Two equities research 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.00.

Cytokinetics Stock Down 6.2 %

Shares of CYTK traded down $2.68 during mid-day trading on Monday, hitting $40.52. 459,651 shares of the company's stock were exchanged, compared to its average volume of 1,605,312. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of -7.53 and a beta of 0.95. The firm has a fifty day moving average of $45.75 and a two-hundred day moving average of $49.52. Cytokinetics, Incorporated has a twelve month low of $40.53 and a twelve month high of $75.71. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.03. The company had revenue of $16.93 million during the quarter, compared to analyst estimates of $14.26 million. On average, sell-side analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

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.