Marks Group Wealth Management Inc Purchases Shares of 14,566 Cytokinetics, Incorporated $CYTK

Marks Group Wealth Management Inc purchased a new stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 14,566 shares of the biopharmaceutical company’s stock, valued at approximately $926,000.

Several other large investors have also added to or reduced their stakes in CYTK. Cerity Partners LLC purchased a new stake in shares of Cytokinetics in the fourth quarter worth about $437,000. LPL Financial LLC boosted its stake in shares of Cytokinetics by 8.9% in the fourth quarter. LPL Financial LLC now owns 12,196 shares of the biopharmaceutical company’s stock worth $775,000 after buying an additional 995 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Cytokinetics by 15.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,007 shares of the biopharmaceutical company’s stock worth $318,000 after buying an additional 677 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Cytokinetics in the fourth quarter worth about $384,000. Finally, Havemeyer Place LP purchased a new stake in shares of Cytokinetics in the fourth quarter worth about $503,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CYTK shares. Stifel Nicolaus upped their target price on Cytokinetics from $98.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. UBS Group set a $119.00 target price on Cytokinetics in a research note on Wednesday, May 6th. Wall Street Zen upgraded Cytokinetics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Citizens Jmp increased their price target on Cytokinetics from $88.00 to $96.00 and gave the stock a “market outperform” rating in a research report on Wednesday, February 25th. Finally, Royal Bank Of Canada increased their price target on Cytokinetics from $101.00 to $119.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cytokinetics presently has a consensus rating of “Moderate Buy” and an average price target of $99.30.

Insider Activity

In other news, CEO Robert I. Blum sold 36,601 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $62.15, for a total value of $2,274,752.15. Following the transaction, the chief executive officer owned 430,330 shares in the company, valued at $26,745,009.50. This trade represents a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Fady Ibraham Malik sold 12,033 shares of the firm’s stock in a transaction that occurred on 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 owned 153,902 shares in the company, valued at approximately $9,565,009.30. This trade represents a 7.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 171,989 shares of company stock worth $11,393,064 over the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Cytokinetics Trading Up 0.8%

Shares of CYTK stock opened at $68.45 on Wednesday. The company has a market capitalization of $8.52 billion, a P/E ratio of -10.01 and a beta of 0.42. The business’s 50 day moving average is $70.18 and its two-hundred day moving average is $65.98. Cytokinetics, Incorporated has a 12-month low of $31.99 and a 12-month high of $80.20.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, meeting the consensus estimate of ($1.67). The firm had revenue of $19.36 million during the quarter, compared to analysts’ expectations of $8.52 million. The business’s revenue was up 1112.5% compared to the same quarter last year. During the same quarter last year, the business earned ($1.36) EPS. On average, research analysts predict that Cytokinetics, Incorporated will post -6.29 earnings per share for the current fiscal year.

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.