Segall Bryant & Hamill LLC Acquires 97,280 Shares of Cytokinetics, Incorporated $CYTK

Segall Bryant & Hamill LLC boosted its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 116.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 181,050 shares of the biopharmaceutical company’s stock after purchasing an additional 97,280 shares during the period. Segall Bryant & Hamill LLC’s holdings in Cytokinetics were worth $9,951,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lisanti Capital Growth LLC bought a new stake in shares of Cytokinetics in the 3rd quarter worth approximately $2,697,000. Sanders Morris Harris LLC purchased a new stake in Cytokinetics in the third quarter worth $1,182,000. Y Intercept Hong Kong Ltd bought a new stake in Cytokinetics in the third quarter valued at $1,359,000. Moody Aldrich Partners LLC purchased a new position in Cytokinetics during the 3rd quarter valued at $4,532,000. Finally, Norges Bank bought a new position in Cytokinetics in the 2nd quarter worth $39,122,000.

Cytokinetics Stock Up 2.6%

CYTK stock opened at $62.27 on Thursday. The business has a 50 day moving average of $64.04 and a 200 day moving average of $59.24. The firm has a market cap of $7.67 billion, a PE ratio of -9.54 and a beta of 0.56. Cytokinetics, Incorporated has a twelve month low of $29.31 and a twelve month high of $70.98.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) EPS for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.02). The firm had revenue of $17.76 million during the quarter, compared to analysts’ expectations of $8.02 million. During the same quarter in the prior year, the company posted ($1.26) earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. On average, research analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Insider Activity at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $61.24, for a total value of $134,728.00. Following the completion of the transaction, the executive vice president directly owned 138,552 shares in the company, valued at $8,484,924.48. The trade was a 1.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew Callos sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $61.93, for a total value of $928,950.00. Following the completion of the transaction, the executive vice president directly owned 50,440 shares in the company, valued at $3,123,749.20. This trade represents a 22.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 110,221 shares of company stock valued at $7,101,425. 2.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CYTK. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cytokinetics in a research note on Wednesday, January 21st. Truist Financial lifted their price objective on Cytokinetics from $84.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, February 3rd. Citizens Jmp increased their target price on Cytokinetics from $88.00 to $96.00 and gave the stock a “market outperform” rating in a research report on Wednesday, February 25th. Needham & Company LLC raised their target price on Cytokinetics from $84.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, JPMorgan Chase & Co. upped their price target on Cytokinetics from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Seventeen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.83.

Cytokinetics Profile

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.