Peregrine Capital Management LLC Buys 9,432 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Peregrine Capital Management LLC grew its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 6.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 150,343 shares of the biopharmaceutical company's stock after purchasing an additional 9,432 shares during the period. Peregrine Capital Management LLC owned approximately 0.13% of Cytokinetics worth $7,072,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp increased its holdings in shares of Cytokinetics by 21.3% during the third quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company's stock worth $3,802,000 after buying an additional 12,565 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Cytokinetics by 38.9% during the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company's stock valued at $64,040,000 after purchasing an additional 339,373 shares in the last quarter. Harvey Capital Management Inc. acquired a new stake in shares of Cytokinetics during the fourth quarter valued at about $1,040,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Cytokinetics by 42.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company's stock valued at $69,769,000 after purchasing an additional 395,709 shares in the last quarter. Finally, abrdn plc increased its position in Cytokinetics by 29.4% in the 4th quarter. abrdn plc now owns 450,513 shares of the biopharmaceutical company's stock valued at $21,192,000 after acquiring an additional 102,457 shares during the period.

Cytokinetics Stock Down 1.7 %

Shares of CYTK traded down $0.86 during trading hours on Friday, hitting $50.26. The stock had a trading volume of 2,169,437 shares, compared to its average volume of 1,607,616. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The firm has a 50 day simple moving average of $47.26 and a 200-day simple moving average of $51.55. The firm has a market capitalization of $5.93 billion, a P/E ratio of -9.34 and a beta of 0.83. Cytokinetics, Incorporated has a 1-year low of $40.53 and a 1-year high of $81.36.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Mizuho upped their price target on shares of Cytokinetics from $99.00 to $103.00 and gave the company an "outperform" rating in a research report on Thursday, November 21st. Stifel Nicolaus began coverage on Cytokinetics in a report on Wednesday, January 22nd. They set a "buy" rating and a $80.00 target price on the stock. Citigroup began coverage on Cytokinetics in a report on Friday, February 7th. They set a "buy" rating and a $86.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and set a $120.00 target price on shares of Cytokinetics in a report on Tuesday, January 21st. Finally, JMP Securities reissued a "market outperform" rating and set a $78.00 target price on shares of Cytokinetics in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cytokinetics currently has an average rating of "Moderate Buy" and a consensus target price of $82.00.

Insider Activity

In other news, EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $50.16, for a total transaction of $366,168.00. Following the completion of the transaction, the executive vice president now directly owns 111,878 shares in the company, valued at $5,611,800.48. This trade represents a 6.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $50.76, for a total transaction of $253,800.00. Following the transaction, the chief executive officer now owns 397,678 shares of the company's stock, valued at $20,186,135.28. This represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,122 shares of company stock worth $1,494,016 in the last three months. Company insiders own 3.40% of the company's stock.

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.