FORA Capital LLC Invests $238,000 in Cytokinetics, Incorporated (NASDAQ:CYTK)

FORA Capital LLC purchased a new position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,503 shares of the biopharmaceutical company’s stock, valued at approximately $238,000.

A number of other large investors have also made changes to their positions in the business. J.Safra Asset Management Corp grew its holdings in shares of Cytokinetics by 642.3% during the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 456 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Cytokinetics by 65.6% during the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 238 shares during the last quarter. Blue Trust Inc. boosted its holdings in Cytokinetics by 225.9% in the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 680 shares during the last quarter. Values First Advisors Inc. purchased a new stake in Cytokinetics in the third quarter valued at $54,000. Finally, Quarry LP boosted its holdings in 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 purchasing an additional 1,400 shares during the last quarter.

Insider Activity

In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $57.03, for a total value of $285,150.00. Following the completion of the transaction, the chief executive officer now owns 397,456 shares of the company’s stock, valued at $22,666,915.68. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Wendall Wierenga sold 4,452 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $52.25, for a total transaction of $232,617.00. Following the completion of the transaction, the director now directly owns 24,559 shares of the company’s stock, valued at $1,283,207.75. This represents a 15.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,378 shares of company stock valued at $3,880,287 in the last 90 days. Company insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

CYTK has been the topic of several recent research reports. Royal Bank of Canada initiated coverage on shares of Cytokinetics in a report on Friday, November 8th. They issued an “outperform” rating and a $80.00 price target on the stock. JPMorgan Chase & Co. upped 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. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a research report on Wednesday, November 20th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Cytokinetics has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Cytokinetics Stock Down 0.7 %

CYTK stock opened at $51.86 on Friday. The firm has a 50-day moving average of $53.25 and a two-hundred day moving average of $54.46. Cytokinetics, Incorporated has a 12 month low of $32.35 and a 12 month high of $110.25. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The company has a market cap of $6.12 billion, a price-to-earnings ratio of -9.64 and a beta of 0.78.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results 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 firm had revenue of $0.46 million for the quarter, compared to analyst estimates of $1.21 million. During the same period last year, the business posted ($1.35) earnings per share. Cytokinetics’s revenue for the quarter was up 22.5% on a year-over-year basis. As a group, analysts forecast that Cytokinetics, Incorporated will post -5.25 earnings per share for the current fiscal 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.