Quinn Opportunity Partners LLC Acquires 9,302 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Quinn Opportunity Partners LLC raised its stake in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 8.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 115,939 shares of the biopharmaceutical company's stock after acquiring an additional 9,302 shares during the quarter. Quinn Opportunity Partners LLC owned approximately 0.10% of Cytokinetics worth $5,454,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Cytokinetics by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company's stock valued at $560,520,000 after purchasing an additional 154,216 shares during the last quarter. Geode Capital Management LLC grew its position in Cytokinetics by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company's stock worth $150,433,000 after acquiring an additional 109,938 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Cytokinetics by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,335,189 shares of the biopharmaceutical company's stock worth $62,807,000 after purchasing an additional 13,798 shares in the last quarter. Norges Bank bought a new position in Cytokinetics in the fourth quarter valued at about $46,556,000. Finally, Fisher Asset Management LLC boosted its stake in shares of Cytokinetics by 13.7% during the fourth quarter. Fisher Asset Management LLC now owns 616,492 shares of the biopharmaceutical company's stock valued at $29,000,000 after purchasing an additional 74,208 shares in the last quarter.

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Insider Activity at Cytokinetics

In related news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $36.77, for a total transaction of $183,850.00. Following the completion of the transaction, the chief executive officer now owns 422,629 shares in the company, valued at approximately $15,540,068.33. This represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew Callos sold 3,341 shares of Cytokinetics stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $43.27, for a total transaction of $144,565.07. Following the completion of the sale, the executive vice president now directly owns 64,434 shares in the company, valued at approximately $2,788,059.18. This represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,170 shares of company stock valued at $2,766,739 over the last ninety days. Corporate insiders own 3.40% of the company's stock.

Wall Street Analyst Weigh In

CYTK has been the subject of a number of research reports. Royal Bank of Canada raised their price objective on shares of Cytokinetics from $80.00 to $82.00 and gave the company an "outperform" rating in a report on Wednesday, December 18th. Morgan Stanley set a $67.00 price target on shares of Cytokinetics in a research note on Friday, March 7th. Bank of America reduced their price objective on shares of Cytokinetics from $62.00 to $54.00 and set a "neutral" rating on the stock in a research note on Tuesday. Stifel Nicolaus assumed coverage on Cytokinetics in a research report on Wednesday, January 22nd. They set a "buy" rating and a $80.00 target price for the company. Finally, JMP Securities reissued a "market outperform" rating and issued a $78.00 price target on shares of Cytokinetics in a research note on Thursday, April 10th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $81.63.

Cytokinetics Stock Down 3.1 %

Shares of CYTK traded down $1.25 on Tuesday, reaching $38.56. The company's stock had a trading volume of 3,012,699 shares, compared to its average volume of 1,592,623. The stock has a market capitalization of $4.60 billion, a PE ratio of -7.17 and a beta of 0.94. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a twelve month low of $32.74 and a twelve month high of $71.60. The firm has a fifty day moving average of $42.95 and a 200-day moving average of $48.06.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, beating analysts' consensus estimates of ($1.29) by $0.03. The company had revenue of $16.93 million during the quarter, compared to analysts' expectations of $14.26 million. Equities analysts predict that Cytokinetics, Incorporated will post -5.24 EPS 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.