Finepoint Capital LP Buys 61,999 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Finepoint Capital LP grew its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 24.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 318,448 shares of the biopharmaceutical company's stock after purchasing an additional 61,999 shares during the quarter. Cytokinetics makes up 0.9% of Finepoint Capital LP's portfolio, making the stock its 12th largest holding. Finepoint Capital LP owned about 0.27% of Cytokinetics worth $14,980,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Jones Financial Companies Lllp boosted its stake in 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 purchasing an additional 374 shares during the period. Retirement Systems of Alabama boosted its position in shares of Cytokinetics by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company's stock worth $6,750,000 after buying an additional 565 shares during the period. Arizona State Retirement System grew its holdings in Cytokinetics by 1.9% in the 4th quarter. Arizona State Retirement System now owns 32,366 shares of the biopharmaceutical company's stock worth $1,522,000 after buying an additional 600 shares in the last quarter. Inspire Investing LLC increased its position in Cytokinetics by 7.8% in the 4th quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company's stock valued at $400,000 after acquiring an additional 616 shares during the period. Finally, Centricity Wealth Management LLC bought a new stake in Cytokinetics during the 4th quarter valued at $29,000.

Remove Ads

Cytokinetics Trading Down 0.2 %

Shares of Cytokinetics stock traded down $0.09 during trading on Friday, hitting $37.77. The stock had a trading volume of 583,683 shares, compared to its average volume of 1,573,046. Cytokinetics, Incorporated has a 1 year low of $32.74 and a 1 year high of $75.50. The stock has a 50 day simple moving average of $43.38 and a 200 day simple moving average of $48.28. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The company has a market capitalization of $4.47 billion, a PE ratio of -7.02 and a beta of 0.94.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $16.93 million for the quarter, compared to analysts' expectations of $14.26 million. On average, research analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on CYTK. Stifel Nicolaus started coverage on Cytokinetics in a report on Wednesday, January 22nd. They set a "buy" rating and a $80.00 price target on the stock. Royal Bank of Canada raised their target price on shares of Cytokinetics from $80.00 to $82.00 and gave the company an "outperform" rating in a research note on Wednesday, December 18th. Citigroup assumed coverage on shares of Cytokinetics in a research note on Friday, February 7th. They issued a "buy" rating and a $86.00 price target for the company. Morgan Stanley set a $67.00 price objective on shares of Cytokinetics in a research note on Friday, March 7th. Finally, Needham & Company LLC restated a "buy" rating and issued a $72.00 target price on shares of Cytokinetics in a research report on Tuesday. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $82.00.

Insiders Place Their Bets

In related news, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $36.77, for a total transaction of $183,850.00. Following the completion of the sale, the chief executive officer now owns 422,629 shares of the company's stock, valued at approximately $15,540,068.33. This trade represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew Callos sold 2,886 shares of the company's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $35.78, for a total value of $103,261.08. Following the completion of the transaction, the executive vice president now directly owns 64,689 shares in the company, valued at approximately $2,314,572.42. The trade was a 4.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,170 shares of company stock worth $2,766,739 in the last quarter. 3.40% of the stock is currently owned by corporate insiders.

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.