Westfield Capital Management Co. LP Boosts Stock Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Westfield Capital Management Co. LP raised its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 38.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,212,886 shares of the biopharmaceutical company's stock after purchasing an additional 339,373 shares during the quarter. Westfield Capital Management Co. LP owned approximately 1.03% of Cytokinetics worth $64,040,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Cytokinetics by 42.7% in the 3rd 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 during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Cytokinetics by 24.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 344,448 shares of the biopharmaceutical company's stock valued at $18,187,000 after buying an additional 68,381 shares during the period. Intech Investment Management LLC bought a new stake in Cytokinetics during the third quarter valued at $1,725,000. Ontario Teachers Pension Plan Board bought a new stake in Cytokinetics during the third quarter valued at $592,000. Finally, Avior Wealth Management LLC raised its position in shares of Cytokinetics by 57.1% in the 3rd quarter. Avior Wealth Management LLC now owns 3,999 shares of the biopharmaceutical company's stock worth $211,000 after acquiring an additional 1,454 shares in the last quarter.

Insider Activity at Cytokinetics

In related news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $50.55, for a total transaction of $252,750.00. Following the completion of the sale, the chief executive officer now directly owns 397,456 shares of the company's stock, valued at approximately $20,091,400.80. This trade represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Fady Ibraham Malik sold 7,384 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $57.01, for a total value of $420,961.84. Following the completion of the transaction, the executive vice president now directly owns 122,920 shares in the company, valued at approximately $7,007,669.20. This represents a 5.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,078 shares of company stock valued at $3,514,119 over the last ninety days. Corporate insiders own 3.40% of the company's stock.

Cytokinetics Stock Up 2.3 %

Shares of CYTK stock traded up $1.15 during trading hours on Monday, reaching $50.25. The company had a trading volume of 1,764,287 shares, compared to its average volume of 2,053,014. The company has a market cap of $5.93 billion, a price-to-earnings ratio of -9.34 and a beta of 0.78. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. Cytokinetics, Incorporated has a 12 month low of $30.68 and a 12 month high of $110.25. The business has a fifty day simple moving average of $53.47 and a 200-day simple moving average of $54.57.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CYTK. HC Wainwright restated a "buy" rating and set a $120.00 target price on shares of Cytokinetics in a research report on Monday, November 18th. JPMorgan Chase & Co. raised their price objective on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an "overweight" rating in a research report on Thursday, September 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Wednesday, November 20th. JMP Securities reiterated a "market outperform" rating and set a $78.00 target price on shares of Cytokinetics in a research report on Wednesday, September 4th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Cytokinetics in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.