Boothbay Fund Management LLC Sells 22,647 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Boothbay Fund Management LLC decreased its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 21.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 83,370 shares of the biopharmaceutical company's stock after selling 22,647 shares during the period. Boothbay Fund Management LLC owned 0.07% of Cytokinetics worth $3,922,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of 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 during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Cytokinetics by 11.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company's stock valued at $505,780,000 after acquiring an additional 1,062,136 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Cytokinetics by 14.9% during the 4th quarter. Marshall Wace LLP now owns 2,153,313 shares of the biopharmaceutical company's stock valued at $101,292,000 after acquiring an additional 279,612 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Cytokinetics by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,335,189 shares of the biopharmaceutical company's stock valued at $62,807,000 after buying an additional 13,798 shares during the last quarter. Finally, Capital International Investors acquired a new stake in Cytokinetics in the 4th quarter valued at approximately $51,564,000.

Insider Transactions at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $48.06, for a total transaction of $96,120.00. Following the transaction, the executive vice president now owns 116,071 shares of the company's stock, valued at $5,578,372.26. This trade represents a 1.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew Callos sold 3,341 shares of Cytokinetics stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $43.27, for a total transaction of $144,565.07. Following the transaction, the executive vice president now directly owns 64,434 shares in the company, valued at $2,788,059.18. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,360 shares of company stock worth $3,848,445 in the last quarter. 3.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. 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. Barclays began coverage on shares of Cytokinetics in a report on Thursday, April 24th. They issued an "overweight" rating and a $55.00 price target on the stock. Bank of America reduced their price objective on shares of Cytokinetics from $62.00 to $54.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 price objective on shares of Cytokinetics in a report on Tuesday, April 8th. Finally, Morgan Stanley set a $67.00 price objective on shares of Cytokinetics in a report on Friday, March 7th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Cytokinetics presently has an average rating of "Moderate Buy" and a consensus target price of $79.13.

Cytokinetics Price Performance

CYTK traded up $0.07 during midday trading on Tuesday, hitting $41.29. The company had a trading volume of 1,074,955 shares, compared to its average volume of 1,608,021. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The company has a market capitalization of $4.92 billion, a PE ratio of -7.67 and a beta of 0.94. Cytokinetics, Incorporated has a twelve month low of $32.74 and a twelve month high of $68.44. The firm's 50-day simple moving average is $41.79 and its 200-day simple moving average is $46.97.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, topping the consensus estimate of ($1.29) by $0.03. The business had revenue of $16.93 million for the quarter, compared to analyst estimates of $14.26 million. Equities research analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal 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.