Springhill Fund Asset Management HK Co Ltd Purchases New Shares in Cytokinetics, Incorporated (NASDAQ:CYTK)

Springhill Fund Asset Management HK Co Ltd bought a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 130,735 shares of the biopharmaceutical company's stock, valued at approximately $6,150,000. Cytokinetics makes up 10.0% of Springhill Fund Asset Management HK Co Ltd's portfolio, making the stock its 3rd biggest holding. Springhill Fund Asset Management HK Co Ltd owned about 0.11% of Cytokinetics as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP grew its stake in Cytokinetics by 50.0% during the 3rd quarter. Quarry LP now owns 3,000 shares of the biopharmaceutical company's stock valued at $158,000 after acquiring an additional 1,000 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of Cytokinetics by 8.5% during the 3rd quarter. Stifel Financial Corp now owns 25,067 shares of the biopharmaceutical company's stock worth $1,324,000 after purchasing an additional 1,959 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Cytokinetics in the third quarter valued at approximately $11,336,000. XTX Topco Ltd acquired a new stake in shares of Cytokinetics in the third quarter valued at approximately $521,000. Finally, Geode Capital Management LLC lifted its position in Cytokinetics by 4.0% during the third quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company's stock worth $150,433,000 after buying an additional 109,938 shares in the last quarter.

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Wall Street Analyst Weigh In

CYTK has been the subject of a number of recent research reports. JMP Securities reaffirmed a "market outperform" rating and issued a $78.00 target price on shares of Cytokinetics in a research note on Thursday. HC Wainwright reaffirmed a "buy" rating and set a $120.00 target price on shares of Cytokinetics in a research note on Friday, April 4th. Evercore ISI upgraded shares of Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. Morgan Stanley set a $67.00 price objective on Cytokinetics in a report on Friday, March 7th. Finally, Citigroup started coverage on Cytokinetics in a research note on Friday, February 7th. They set a "buy" rating and a $86.00 target price for the company. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $82.00.

Cytokinetics Stock Down 0.2 %

CYTK stock traded down $0.09 during midday trading on Friday, hitting $37.77. The company's stock had a trading volume of 583,683 shares, compared to its average volume of 1,790,678. Cytokinetics, Incorporated has a 52-week low of $32.74 and a 52-week high of $73.76. The firm has a 50-day simple moving average of $43.38 and a 200-day simple moving average of $48.28. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The firm has a market capitalization of $4.47 billion, a P/E ratio of -7.02 and a beta of 0.94.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (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 analyst estimates of $14.26 million. As a group, equities analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Insider Buying and Selling

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $45.92, for a total transaction of $91,840.00. Following the completion of the sale, the executive vice president now directly owns 116,071 shares of the company's stock, valued at $5,329,980.32. The trade was a 1.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert I. Blum sold 5,000 shares of the company's stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $36.77, for a total value of $183,850.00. Following the transaction, the chief executive officer now directly owns 422,629 shares of the company's stock, valued at approximately $15,540,068.33. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,170 shares of company stock worth $2,766,739 over the last 90 days. 3.40% of the stock is owned by insiders.

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.