Orbimed Advisors LLC Increases Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Orbimed Advisors LLC boosted its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 106.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,584,005 shares of the biopharmaceutical company’s stock after acquiring an additional 817,099 shares during the quarter. Cytokinetics accounts for approximately 1.6% of Orbimed Advisors LLC’s holdings, making the stock its 21st largest position. Orbimed Advisors LLC’s holdings in Cytokinetics were worth $74,512,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Cytokinetics by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock worth $560,520,000 after purchasing an additional 154,216 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Cytokinetics by 11.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company’s stock valued at $505,780,000 after buying an additional 1,062,136 shares during the last quarter. Deep Track Capital LP increased its holdings in Cytokinetics by 296.9% in the 4th quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company’s stock worth $117,600,000 after buying an additional 1,870,094 shares in the last quarter. Marshall Wace LLP raised its position in Cytokinetics by 14.9% in the 4th quarter. Marshall Wace LLP now owns 2,153,313 shares of the biopharmaceutical company’s stock worth $101,292,000 after buying an additional 279,612 shares during the last quarter. Finally, Northern Trust Corp raised its position in Cytokinetics by 10.7% in the 4th quarter. Northern Trust Corp now owns 1,471,489 shares of the biopharmaceutical company’s stock worth $69,219,000 after buying an additional 141,835 shares during the last quarter.

Cytokinetics Stock Up 1.4%

NASDAQ CYTK opened at $32.13 on Tuesday. Cytokinetics, Incorporated has a 52 week low of $31.10 and a 52 week high of $63.46. 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 company has a market capitalization of $3.84 billion, a P/E ratio of -5.97 and a beta of 0.81. The stock’s 50-day moving average price is $39.94 and its 200-day moving average price is $45.78.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.41) by $0.05. The business had revenue of $1.60 million during the quarter, compared to analysts’ expectations of $2.77 million. During the same quarter in the previous year, the company posted ($1.33) EPS. The company’s quarterly revenue was up 89.1% on a year-over-year basis. On average, equities research analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Wall Street Analyst Weigh In

CYTK has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of Cytokinetics from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Citigroup dropped their target price on shares of Cytokinetics from $86.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Morgan Stanley set a $67.00 target price on shares of Cytokinetics in a research note on Friday, March 7th. Royal Bank of Canada lowered their price target on Cytokinetics from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a research report on Monday, April 21st. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $74.44.

Insider Activity

In other Cytokinetics news, EVP Andrew Callos sold 3,341 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $43.27, for a total transaction of $144,565.07. Following the completion of the transaction, the executive vice president now owns 64,434 shares of the company’s stock, valued at $2,788,059.18. This represents a 4.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wendall Wierenga sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $38.46, for a total value of $769,200.00. Following the transaction, the director now owns 24,848 shares of the company’s stock, valued at $955,654.08. This represents a 44.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,362 shares of company stock worth $3,899,118 over the last quarter. Insiders own 2.70% of the company’s stock.

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.