Cytokinetics, Incorporated $CYTK Shares Acquired by Frazier Life Sciences Management L.P.

Frazier Life Sciences Management L.P. lifted its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 5.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 934,642 shares of the biopharmaceutical company’s stock after acquiring an additional 44,197 shares during the quarter. Cytokinetics comprises approximately 1.6% of Frazier Life Sciences Management L.P.’s holdings, making the stock its 19th biggest holding. Frazier Life Sciences Management L.P.’s holdings in Cytokinetics were worth $59,387,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bank of Montreal Can increased its stake in Cytokinetics by 1.2% during the 4th quarter. Bank of Montreal Can now owns 13,292 shares of the biopharmaceutical company’s stock worth $845,000 after buying an additional 160 shares during the period. Kennedy Capital Management LLC increased its stake in Cytokinetics by 1.2% during the 4th quarter. Kennedy Capital Management LLC now owns 13,183 shares of the biopharmaceutical company’s stock worth $838,000 after buying an additional 162 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Cytokinetics by 46.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 171 shares during the period. CIBC Private Wealth Group LLC increased its stake in Cytokinetics by 6.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,723 shares of the biopharmaceutical company’s stock worth $237,000 after buying an additional 239 shares during the period. Finally, Fifth Third Bancorp increased its stake in Cytokinetics by 32.3% during the 3rd quarter. Fifth Third Bancorp now owns 1,072 shares of the biopharmaceutical company’s stock worth $59,000 after buying an additional 262 shares during the period.

Cytokinetics Stock Performance

NASDAQ CYTK opened at $70.15 on Friday. Cytokinetics, Incorporated has a one year low of $31.99 and a one year high of $80.20. The company has a 50-day simple moving average of $70.40 and a 200-day simple moving average of $66.06. The firm has a market capitalization of $8.73 billion, a PE ratio of -10.26 and a beta of 0.42.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) EPS for the quarter, meeting the consensus estimate of ($1.67). The business had revenue of $19.36 million during the quarter, compared to analyst estimates of $8.52 million. During the same period last year, the firm posted ($1.36) earnings per share. The company’s quarterly revenue was up 1112.5% on a year-over-year basis. Equities analysts forecast that Cytokinetics, Incorporated will post -6.29 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CYTK shares. JPMorgan Chase & Co. lifted their price target on shares of Cytokinetics from $92.00 to $97.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Citizens Jmp lifted their price target on shares of Cytokinetics from $88.00 to $96.00 and gave the stock a “market outperform” rating in a research note on Wednesday, February 25th. Wall Street Zen raised shares of Cytokinetics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Mizuho lifted their price target on shares of Cytokinetics from $84.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cytokinetics in a research note on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $99.30.

Insider Activity

In other news, EVP Fady Ibraham Malik sold 12,033 shares of Cytokinetics stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $62.15, for a total value of $747,850.95. Following the completion of the transaction, the executive vice president directly owned 153,902 shares of the company’s stock, valued at approximately $9,565,009.30. The trade was a 7.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert I. Blum sold 36,601 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $62.15, for a total transaction of $2,274,752.15. Following the transaction, the chief executive officer directly owned 430,330 shares of the company’s stock, valued at $26,745,009.50. The trade was a 7.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 171,989 shares of company stock valued at $11,393,064. Company insiders own 2.60% of the company’s stock.

About Cytokinetics

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.