Profund Advisors LLC Acquires 9,109 Shares of Cytokinetics, Incorporated $CYTK

Profund Advisors LLC increased its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 35.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,681 shares of the biopharmaceutical company’s stock after purchasing an additional 9,109 shares during the period. Profund Advisors LLC’s holdings in Cytokinetics were worth $2,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB raised its stake in shares of Cytokinetics by 63.8% during the 2nd quarter. Handelsbanken Fonder AB now owns 405,000 shares of the biopharmaceutical company’s stock valued at $34,502,000 after buying an additional 157,700 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in shares of Cytokinetics in the 2nd quarter valued at about $1,960,000. Seven Fleet Capital Management LP lifted its holdings in shares of Cytokinetics by 93.0% in the 2nd quarter. Seven Fleet Capital Management LP now owns 118,240 shares of the biopharmaceutical company’s stock valued at $10,073,000 after buying an additional 56,971 shares during the period. Siren L.L.C. purchased a new stake in shares of Cytokinetics in the first quarter worth about $40,466,000. Finally, California State Teachers Retirement System boosted its stake in shares of Cytokinetics by 27.3% in the first quarter. California State Teachers Retirement System now owns 136,599 shares of the biopharmaceutical company’s stock worth $9,003,000 after buying an additional 29,275 shares during the last quarter.

Cytokinetics Price Performance

Shares of Cytokinetics stock opened at $62.99 on Monday. The firm has a market cap of $7.84 billion, a PE ratio of -8.72 and a beta of 0.45. Cytokinetics, Incorporated has a twelve month low of $58.05 and a twelve month high of $88.31. The business has a 50-day moving average price of $67.50 and a 200 day moving average price of $70.07.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.50) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.63) by $0.13. The business had revenue of $28.62 million for the quarter, compared to analysts’ expectations of $17.59 million. During the same quarter in the prior year, the company posted ($1.12) EPS. The business’s revenue for the quarter was down 57.1% compared to the same quarter last year. On average, sell-side analysts expect that Cytokinetics, Incorporated will post -5.97 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on CYTK. Citizens Jmp lifted their price target on Cytokinetics from $105.00 to $110.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. Citigroup reaffirmed a “market outperform” rating on shares of Cytokinetics in a research note on Friday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytokinetics in a research note on Thursday, October 15th. Barclays increased their price target on shares of Cytokinetics from $95.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a report on Friday, September 11th. Nineteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.44.

Insiders Place Their Bets

In related news, EVP Andrew Callos sold 10,000 shares of Cytokinetics stock in a transaction on Monday, August 31st. The shares were sold at an average price of $70.24, for a total value of $702,400.00. Following the sale, the executive vice president owned 58,555 shares of the company’s stock, valued at approximately $4,112,903.20. This trade represents a 14.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Fady Malik sold 3,500 shares of the business’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $68.29, for a total transaction of $239,015.00. Following the completion of the sale, the executive vice president directly owned 153,902 shares of the company’s stock, valued at approximately $10,509,967.58. The trade was a 2.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 169,926 shares of company stock valued at $11,819,010. Corporate insiders own 2.60% of the company’s stock.

Cytokinetics Profile

Cytokinetics, Incorporated is a biopharmaceutical company focused on discovering and developing medicines that target muscle function and contractility. The company applies muscle biology and sarcomere science to develop potential treatments for cardiovascular and neuromuscular diseases, including conditions in which impaired muscle performance contributes to disease progression.

Its leading investigational program is aficamten, a selective cardiac myosin inhibitor being developed for hypertrophic cardiomyopathy and other potential cardiovascular indications.