GAMMA Investing LLC Invests $80,000 in Cytokinetics, Incorporated (NASDAQ:CYTK)

GAMMA Investing LLC acquired a new position in Cytokinetics, Incorporated (NASDAQ:CYTK) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,018 shares of the biopharmaceutical company’s stock, valued at approximately $80,000.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Cytokinetics by 4.6% during the third quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company’s stock worth $316,498,000 after purchasing an additional 472,595 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Cytokinetics during the fourth quarter valued at approximately $46,308,000. Rhumbline Advisers lifted its position in shares of Cytokinetics by 1.1% in the third quarter. Rhumbline Advisers now owns 274,869 shares of the biopharmaceutical company’s stock valued at $8,098,000 after acquiring an additional 3,005 shares in the last quarter. Rafferty Asset Management LLC boosted its stake in shares of Cytokinetics by 10.0% in the third quarter. Rafferty Asset Management LLC now owns 246,922 shares of the biopharmaceutical company’s stock worth $7,274,000 after acquiring an additional 22,498 shares during the last quarter. Finally, Affinity Asset Advisors LLC increased its position in shares of Cytokinetics by 84.1% during the third quarter. Affinity Asset Advisors LLC now owns 230,366 shares of the biopharmaceutical company’s stock worth $6,787,000 after purchasing an additional 105,218 shares in the last quarter.

Cytokinetics Stock Performance

NASDAQ:CYTK opened at $62.53 on Tuesday. The stock has a fifty day moving average price of $69.62 and a two-hundred day moving average price of $60.37. The stock has a market capitalization of $6.54 billion, a price-to-earnings ratio of -11.47 and a beta of 0.68. Cytokinetics, Incorporated has a 1 year low of $25.98 and a 1 year high of $110.25.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The company had revenue of $1.70 million during the quarter, compared to analysts’ expectations of $7.62 million. Cytokinetics’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.45) earnings per share. On average, analysts predict that Cytokinetics, Incorporated will post -4.5 EPS for the current year.

Insider Transactions at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 12,500 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $79.57, for a total value of $994,625.00. Following the transaction, the chief executive officer now directly owns 441,797 shares in the company, valued at approximately $35,153,787.29. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Robert I. Blum sold 12,500 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $79.57, for a total transaction of $994,625.00. Following the transaction, the chief executive officer now directly owns 441,797 shares in the company, valued at approximately $35,153,787.29. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Fady Ibraham Malik sold 32,605 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total transaction of $2,585,576.50. Following the completion of the sale, the executive vice president now owns 142,973 shares of the company’s stock, valued at $11,337,758.90. The disclosure for this sale can be found here. Insiders sold a total of 125,876 shares of company stock valued at $9,269,877 in the last ninety days. Corporate insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CYTK. Oppenheimer reaffirmed an “outperform” rating and set a $107.00 target price on shares of Cytokinetics in a research note on Monday, March 4th. Mizuho dropped their price objective on shares of Cytokinetics from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, March 6th. Morgan Stanley restated an “equal weight” rating and set a $90.00 target price (up from $60.00) on shares of Cytokinetics in a report on Friday, January 5th. Truist Financial reaffirmed a “buy” rating and issued a $86.00 price target on shares of Cytokinetics in a report on Monday, April 8th. Finally, HC Wainwright reissued a “buy” rating and set a $94.00 price objective on shares of Cytokinetics in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cytokinetics has a consensus rating of “Moderate Buy” and an average price target of $79.33.

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.