Oak Ridge Investments LLC Trims Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

Oak Ridge Investments LLC lessened its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 16.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,864 shares of the biopharmaceutical company’s stock after selling 2,907 shares during the period. Oak Ridge Investments LLC’s holdings in Cytokinetics were worth $699,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. UMB Bank n.a. boosted its holdings in Cytokinetics by 65.6% during the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 238 shares in the last quarter. Blue Trust Inc. grew its position in shares of Cytokinetics by 225.9% during the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 680 shares during the period. Values First Advisors Inc. purchased a new position in shares of Cytokinetics in the 3rd quarter valued at about $54,000. Quarry LP raised its holdings in Cytokinetics by 233.3% in the 2nd quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 1,400 shares during the period. Finally, Avior Wealth Management LLC boosted its position in Cytokinetics by 57.1% during the third quarter. Avior Wealth Management LLC now owns 3,999 shares of the biopharmaceutical company’s stock worth $211,000 after purchasing an additional 1,454 shares in the last quarter.

Cytokinetics Trading Down 2.7 %

NASDAQ CYTK opened at $45.74 on Monday. Cytokinetics, Incorporated has a 12 month low of $44.49 and a 12 month high of $86.63. The stock has a market capitalization of $5.40 billion, a P/E ratio of -8.50 and a beta of 0.82. The firm’s 50-day moving average is $49.59 and its two-hundred day moving average is $53.21. 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 (NASDAQ:CYTK) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS 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 analysts’ expectations of $1.21 million. The business’s revenue was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.35) EPS. On average, sell-side analysts anticipate that Cytokinetics, Incorporated will post -5.23 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Fady Ibraham Malik sold 6,342 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $58.48, for a total value of $370,880.16. Following the completion of the transaction, the executive vice president now owns 113,878 shares of the company’s stock, valued at approximately $6,659,585.44. This trade represents a 5.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Wendall Wierenga sold 4,452 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $52.25, for a total transaction of $232,617.00. Following the sale, the director now directly owns 24,559 shares in the company, valued at approximately $1,283,207.75. The trade was a 15.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,216 shares of company stock valued at $2,707,436. Corporate insiders own 3.40% of the company’s stock.

Wall Street Analyst Weigh In

CYTK has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research note on Monday, December 2nd. Mizuho boosted their target price on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. Royal Bank of Canada increased their target price on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.64.

Cytokinetics Company 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.