Two Sigma Advisers LP Makes New $11.34 Million Investment in Cytokinetics, Incorporated (NASDAQ:CYTK)

Two Sigma Advisers LP bought a new position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 214,700 shares of the biopharmaceutical company's stock, valued at approximately $11,336,000. Two Sigma Advisers LP owned approximately 0.18% of Cytokinetics at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp lifted its position in Cytokinetics by 642.3% during the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 456 shares during the last quarter. UMB Bank n.a. increased its stake in Cytokinetics by 65.6% in the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company's stock valued at $32,000 after acquiring an additional 238 shares during the last quarter. Blue Trust Inc. grew its stake in shares of 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. bought a new stake in shares of Cytokinetics during the third quarter worth $54,000. Finally, Quarry LP increased its stake in shares of Cytokinetics by 233.3% in the second quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company's stock valued at $108,000 after buying an additional 1,400 shares during the period.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CYTK shares. HC Wainwright reiterated a "buy" rating and set a $120.00 price target on shares of Cytokinetics in a report on Monday, December 2nd. JPMorgan Chase & Co. lifted their target price on Cytokinetics from $65.00 to $71.00 and gave the company an "overweight" rating in a research report on Thursday, September 5th. Needham & Company LLC reiterated a "buy" rating and issued a $72.00 price objective on shares of Cytokinetics in a research note on Monday, December 2nd. Mizuho upped their price target on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an "outperform" rating in a report on Thursday, November 21st. Finally, JMP Securities restated a "market outperform" rating and set a $78.00 price target on shares of Cytokinetics in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $83.93.

Insider Transactions at Cytokinetics

In other news, CEO Robert I. Blum sold 5,000 shares of the business's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $50.76, for a total value of $253,800.00. Following the completion of the sale, the chief executive officer now owns 397,678 shares in the company, valued at approximately $20,186,135.28. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Fady Ibraham Malik sold 7,300 shares of the business's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $54.19, for a total transaction of $395,587.00. Following the completion of the sale, the executive vice president now owns 116,920 shares of the company's stock, valued at approximately $6,335,894.80. This represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,994 shares of company stock worth $3,427,975. 3.40% of the stock is currently owned by insiders.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK traded up $0.05 on Tuesday, reaching $50.55. The company's stock had a trading volume of 703,009 shares, compared to its average volume of 2,004,818. Cytokinetics, Incorporated has a 52-week low of $32.70 and a 52-week high of $110.25. The company has a market cap of $5.97 billion, a P/E ratio of -9.39 and a beta of 0.80. The company has a 50-day simple moving average of $52.99 and a 200 day simple moving average of $54.04. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28.

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

About Cytokinetics

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.