Harvey Capital Management Inc. Acquires Shares of 22,105 Cytokinetics, Incorporated (NASDAQ:CYTK)

Harvey Capital Management Inc. acquired a new position in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 22,105 shares of the biopharmaceutical company's stock, valued at approximately $1,040,000.

Several other large investors have also recently made changes to their positions in the stock. UMB Bank n.a. increased its position 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 valued at $32,000 after purchasing an additional 238 shares during the last quarter. Blue Trust Inc. boosted its stake in Cytokinetics by 225.9% during the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 680 shares during the period. Values First Advisors Inc. acquired a new stake in Cytokinetics during the 3rd quarter worth $54,000. R Squared Ltd acquired a new stake in shares of Cytokinetics in the 4th quarter worth $133,000. Finally, Quarry LP lifted its stake in shares of Cytokinetics by 50.0% in the 3rd quarter. Quarry LP now owns 3,000 shares of the biopharmaceutical company's stock worth $158,000 after acquiring an additional 1,000 shares during the period.

Insider Buying and Selling at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 2,000 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $48.06, for a total transaction of $96,120.00. Following the completion of the transaction, the executive vice president now owns 116,071 shares in the company, valued at approximately $5,578,372.26. This represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of the company's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $50.76, for a total transaction of $253,800.00. Following the completion of the sale, the chief executive officer now directly owns 397,678 shares of the company's stock, valued at $20,186,135.28. The trade was a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,122 shares of company stock worth $1,654,806 over the last 90 days. Insiders own 3.40% of the company's stock.

Cytokinetics Stock Performance

CYTK stock traded up $4.54 during trading on Friday, hitting $46.16. 4,820,338 shares of the company's stock traded hands, compared to its average volume of 1,287,863. 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, Incorporated has a 52 week low of $40.53 and a 52 week high of $81.36. The stock has a fifty day moving average price of $47.52 and a two-hundred day moving average price of $51.87. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of -8.58 and a beta of 0.83.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Evercore ISI upgraded shares of Cytokinetics to a "strong-buy" rating in a research note on Friday, February 7th. 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 report on Wednesday, December 18th. Stifel Nicolaus initiated coverage on shares of Cytokinetics in a report on Wednesday, January 22nd. They set a "buy" rating and a $80.00 price target for the company. Cantor Fitzgerald reiterated an "overweight" rating on shares of Cytokinetics in a report on Friday, October 18th. Finally, Morgan Stanley raised shares of Cytokinetics from an "equal weight" rating to an "overweight" rating and decreased their target price for the stock from $70.00 to $67.00 in a research report on Thursday. Two investment 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. Based on data from MarketBeat, Cytokinetics currently has a consensus rating of "Moderate Buy" and a consensus target price of $82.00.

Cytokinetics Company 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.