Inspire Investing LLC Has $393,000 Stock Holdings in Cytokinetics, Incorporated $CYTK

Inspire Investing LLC lifted its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 39.0% during the 2nd quarter, Holdings Channel reports. The firm owned 11,888 shares of the biopharmaceutical company’s stock after purchasing an additional 3,337 shares during the quarter. Inspire Investing LLC’s holdings in Cytokinetics were worth $393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Vestal Point Capital LP increased its stake in shares of Cytokinetics by 10.2% during the 1st quarter. Vestal Point Capital LP now owns 2,590,531 shares of the biopharmaceutical company’s stock worth $104,113,000 after purchasing an additional 240,531 shares during the last quarter. Westfield Capital Management Co. LP increased its stake in shares of Cytokinetics by 2.4% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,310,336 shares of the biopharmaceutical company’s stock worth $52,662,000 after purchasing an additional 30,346 shares during the last quarter. Brown Advisory Inc. grew its stake in Cytokinetics by 0.9% in the 1st quarter. Brown Advisory Inc. now owns 1,086,300 shares of the biopharmaceutical company’s stock valued at $43,658,000 after buying an additional 9,869 shares during the last quarter. Aberdeen Group plc grew its stake in Cytokinetics by 53.2% in the 2nd quarter. Aberdeen Group plc now owns 922,929 shares of the biopharmaceutical company’s stock valued at $30,494,000 after buying an additional 320,508 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP acquired a new position in Cytokinetics in the 1st quarter valued at about $34,510,000.

Insider Buying and Selling at Cytokinetics

In other news, Director Edward M. Md Kaye sold 6,757 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $60.00, for a total transaction of $405,420.00. Following the completion of the sale, the director owned 9,778 shares of the company’s stock, valued at approximately $586,680. This represents a 40.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Fady Ibraham Malik sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $60.56, for a total transaction of $121,120.00. Following the sale, the executive vice president directly owned 140,610 shares of the company’s stock, valued at approximately $8,515,341.60. This trade represents a 1.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,208 shares of company stock valued at $2,364,831 in the last quarter. Company insiders own 3.40% of the company’s stock.

Cytokinetics Stock Down 0.7%

NASDAQ CYTK opened at $59.59 on Tuesday. The company has a market capitalization of $7.13 billion, a P/E ratio of -11.68 and a beta of 0.67. Cytokinetics, Incorporated has a 12-month low of $29.31 and a 12-month high of $61.48. The firm has a 50-day moving average price of $46.48 and a two-hundred day moving average price of $39.21.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.34) by $0.22. The business had revenue of $66.77 million during the quarter, compared to the consensus estimate of $1.95 million. The business’s revenue for the quarter was up 26727.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.31) EPS. Equities analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on CYTK. Wall Street Zen upgraded shares of Cytokinetics from a “strong sell” rating to a “hold” rating in a research note on Sunday, August 10th. Citigroup upped their price target on shares of Cytokinetics from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. Raymond James Financial began coverage on shares of Cytokinetics in a research note on Wednesday, July 30th. They issued a “market perform” rating on the stock. Stifel Nicolaus upped their price target on shares of Cytokinetics from $87.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. Finally, Evercore ISI upped their price target on shares of Cytokinetics from $60.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Cytokinetics has an average rating of “Moderate Buy” and a consensus target price of $76.64.

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.