AlphaCentric Advisors LLC Takes Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

AlphaCentric Advisors LLC bought a new position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 12,500 shares of the biopharmaceutical company's stock, valued at approximately $660,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. J.Safra Asset Management Corp boosted its holdings in Cytokinetics by 642.3% in the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 456 shares during the last quarter. UMB Bank n.a. increased its position in shares of Cytokinetics by 65.6% during the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company's stock worth $32,000 after buying an additional 238 shares during the period. Blue Trust Inc. raised its stake in Cytokinetics by 225.9% during the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company's stock worth $53,000 after buying an additional 680 shares during the last quarter. Values First Advisors Inc. acquired a new position in Cytokinetics in the third quarter valued at $54,000. Finally, EntryPoint Capital LLC acquired a new stake in Cytokinetics during the 1st quarter worth about $74,000.

Insider Activity at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 11,500 shares of the company's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $55.17, for a total transaction of $634,455.00. Following the transaction, the chief executive officer now owns 399,412 shares in the company, valued at approximately $22,035,560.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Robert I. Blum sold 11,500 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $55.17, for a total value of $634,455.00. Following the completion of the transaction, the chief executive officer now directly owns 399,412 shares in the company, valued at $22,035,560.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director B Lynne Parshall sold 5,000 shares of the business's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $55.20, for a total transaction of $276,000.00. Following the sale, the director now directly owns 20,600 shares in the company, valued at $1,137,120. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,236 shares of company stock worth $3,800,944 over the last 90 days. 3.40% of the stock is owned by company insiders.

Cytokinetics Trading Up 2.0 %

Shares of CYTK stock traded up $1.04 on Tuesday, hitting $52.52. 1,142,859 shares of the company's stock traded hands, compared to its average volume of 2,076,120. The company has a debt-to-equity ratio of 5.93, a quick ratio of 10.39 and a current ratio of 10.39. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of -9.51 and a beta of 0.78. The company's fifty day simple moving average is $54.18 and its 200 day simple moving average is $55.80. Cytokinetics, Incorporated has a one year low of $30.68 and a one year high of $110.25.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The company had revenue of $0.25 million during the quarter, compared to analyst estimates of $7.61 million. During the same quarter last year, the firm posted ($1.34) EPS. Cytokinetics's revenue was down 71.3% compared to the same quarter last year. Equities analysts forecast that Cytokinetics, Incorporated will post -5.15 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on CYTK shares. HC Wainwright reaffirmed a "buy" rating and set a $120.00 price objective on shares of Cytokinetics in a research report on Thursday, October 17th. The Goldman Sachs Group lowered Cytokinetics from a "buy" rating to a "neutral" rating and decreased their target price for the company from $85.00 to $60.00 in a research report on Tuesday, August 13th. JMP Securities reiterated a "market outperform" rating and issued a $78.00 price target on shares of Cytokinetics in a report on Wednesday, September 4th. Cantor Fitzgerald restated an "overweight" rating on shares of Cytokinetics in a report on Friday, October 18th. Finally, Needham & Company LLC restated a "buy" rating and set a $72.00 price target on shares of Cytokinetics in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $83.93.

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.