HighVista Strategies LLC Buys Shares of 10,055 Cytokinetics, Incorporated (NASDAQ:CYTK)

HighVista Strategies LLC bought a new position in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 10,055 shares of the biopharmaceutical company's stock, valued at approximately $531,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Checkpoint Capital L.P. increased its holdings in shares of Cytokinetics by 145.7% in the 3rd quarter. Checkpoint Capital L.P. now owns 466,813 shares of the biopharmaceutical company's stock worth $24,648,000 after buying an additional 276,813 shares during the last quarter. Erste Asset Management GmbH bought a new position in shares of Cytokinetics in the 3rd quarter worth $3,164,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Cytokinetics by 19.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,376 shares of the biopharmaceutical company's stock worth $1,393,000 after buying an additional 4,282 shares during the last quarter. FORA Capital LLC bought a new position in shares of Cytokinetics in the 3rd quarter worth $238,000. Finally, MetLife Investment Management LLC increased its holdings in shares of Cytokinetics by 0.4% in the 3rd quarter. MetLife Investment Management LLC now owns 123,308 shares of the biopharmaceutical company's stock worth $6,511,000 after buying an additional 538 shares during the last quarter.

Analyst Upgrades and Downgrades

CYTK has been the topic of several recent research reports. Mizuho increased their target price on shares of Cytokinetics from $99.00 to $103.00 and gave the company an "outperform" rating in a report on Thursday, November 21st. JPMorgan Chase & Co. lifted their target price on shares of Cytokinetics from $65.00 to $71.00 and gave the company an "overweight" rating in a research note on Thursday, September 5th. JMP Securities reissued a "market outperform" rating and set a $78.00 price objective on shares of Cytokinetics in a research note on Wednesday, September 4th. Royal Bank of Canada began coverage on shares of Cytokinetics in a research note on Friday, November 8th. They issued an "outperform" rating and a $80.00 target price on the stock. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Cytokinetics in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Cytokinetics presently has an average rating of "Moderate Buy" and an average target price of $83.93.

Insider Buying and Selling at Cytokinetics

In related news, CEO Robert I. Blum sold 5,000 shares of the firm's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $50.55, for a total value of $252,750.00. Following the transaction, the chief executive officer now owns 397,456 shares of the company's stock, valued at $20,091,400.80. This trade represents a 1.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Fady Ibraham Malik sold 7,300 shares of the firm's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $52.10, for a total transaction of $380,330.00. Following the completion of the transaction, the executive vice president now directly owns 118,920 shares in the company, valued at $6,195,732. This represents a 5.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,994 shares of company stock worth $3,427,975 over the last 90 days. 3.40% of the stock is owned by insiders.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK traded down $1.07 during midday trading on Wednesday, reaching $50.44. 1,043,136 shares of the company were exchanged, compared to its average volume of 2,026,278. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The business's fifty day moving average is $53.15 and its two-hundred day moving average is $54.22. Cytokinetics, Incorporated has a one year low of $32.50 and a one year high of $110.25. The stock has a market cap of $5.95 billion, a PE ratio of -9.57 and a beta of 0.80.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts' consensus estimates of ($1.27) by ($0.09). The company had revenue of $0.46 million for the quarter, compared to analysts' expectations of $1.21 million. During the same period last year, the company posted ($1.35) EPS. The business's revenue was up 22.5% compared to the same quarter last year. As a group, analysts predict that Cytokinetics, Incorporated will post -5.25 earnings per share for the current year.

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.