Exome Asset Management LLC Invests $3.09 Million in Cytokinetics, Incorporated (NASDAQ:CYTK)

Exome Asset Management LLC acquired a new stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) during the third quarter, HoldingsChannel reports. The fund acquired 58,583 shares of the biopharmaceutical company’s stock, valued at approximately $3,093,000. Cytokinetics makes up approximately 2.1% of Exome Asset Management LLC’s investment portfolio, making the stock its 19th biggest holding.

Several other large investors have also recently made changes to their positions in the business. UMB Bank n.a. grew its holdings in shares of Cytokinetics by 65.6% during the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 238 shares during the last quarter. Blue Trust Inc. boosted its holdings in 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. bought a new position in Cytokinetics during the 3rd quarter worth approximately $54,000. Quarry LP increased its stake 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, nVerses Capital LLC bought a new stake in Cytokinetics in the second quarter valued at approximately $190,000.

Cytokinetics Price Performance

CYTK opened at $48.65 on Friday. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The business has a fifty day moving average of $52.64 and a 200 day moving average of $54.00. Cytokinetics, Incorporated has a 52-week low of $32.70 and a 52-week high of $110.25. The stock has a market cap of $5.74 billion, a P/E ratio of -9.04 and a beta of 0.80.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results 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 analyst estimates of $1.21 million. During the same period in the prior year, the company posted ($1.35) EPS. The business’s quarterly revenue was up 22.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Cytokinetics, Incorporated will post -5.25 EPS for the current year.

Insider Activity

In other Cytokinetics news, Director Wendall Wierenga sold 4,452 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $52.25, for a total value of $232,617.00. Following the completion of the transaction, the director now owns 24,559 shares of the company’s stock, valued at approximately $1,283,207.75. This trade represents a 15.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $52.10, for a total value of $380,330.00. Following the completion of the sale, the executive vice president now owns 118,920 shares in the company, valued at approximately $6,195,732. This represents a 5.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,074 shares of company stock worth $3,887,395. Corporate insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CYTK. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. JMP Securities reiterated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Wednesday, September 4th. Needham & Company LLC reissued a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research note on Monday, December 2nd. Mizuho upped their target price on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, HC Wainwright reiterated a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a report on Monday, December 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.93.

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.