Granahan Investment Management LLC Has $5.22 Million Stock Holdings in Cytokinetics, Incorporated $CYTK

Granahan Investment Management LLC increased its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 53.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 82,121 shares of the biopharmaceutical company’s stock after purchasing an additional 28,571 shares during the period. Granahan Investment Management LLC’s holdings in Cytokinetics were worth $5,218,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Cytokinetics by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 12,048,131 shares of the biopharmaceutical company’s stock worth $765,538,000 after purchasing an additional 191,336 shares during the last quarter. State Street Corp lifted its position in shares of Cytokinetics by 3.7% during the 4th quarter. State Street Corp now owns 5,825,295 shares of the biopharmaceutical company’s stock worth $370,139,000 after purchasing an additional 207,961 shares during the last quarter. Deep Track Capital LP lifted its position in shares of Cytokinetics by 17.8% during the 3rd quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company’s stock worth $236,328,000 after purchasing an additional 650,000 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Cytokinetics by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 3,056,017 shares of the biopharmaceutical company’s stock worth $194,214,000 after purchasing an additional 15,815 shares during the last quarter. Finally, Vestal Point Capital LP lifted its position in shares of Cytokinetics by 14.8% during the 2nd quarter. Vestal Point Capital LP now owns 2,975,000 shares of the biopharmaceutical company’s stock worth $98,294,000 after purchasing an additional 384,469 shares during the last quarter.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, Director B Lynne Parshall sold 5,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $74.08, for a total value of $370,400.00. Following the transaction, the director directly owned 15,784 shares in the company, valued at approximately $1,169,278.72. This trade represents a 24.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert I. Blum sold 7,500 shares of the stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $59.62, for a total value of $447,150.00. Following the completion of the transaction, the chief executive officer owned 407,830 shares in the company, valued at $24,314,824.60. The trade was a 1.81% decrease in their ownership of the stock. 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 ninety days, insiders have sold 113,739 shares of company stock worth $7,837,220. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Needham & Company LLC boosted their price objective on Cytokinetics from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Citigroup assumed coverage on Cytokinetics in a report on Monday, May 18th. They issued a “buy” rating and a $99.00 price target for the company. UBS Group set a $119.00 price target on Cytokinetics in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cytokinetics in a report on Monday, April 20th. Finally, Robert W. Baird set a $84.00 price target on Cytokinetics in a report on Tuesday, March 10th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Cytokinetics currently has an average rating of “Moderate Buy” and a consensus price target of $99.30.

Cytokinetics Stock Up 5.4%

Cytokinetics stock opened at $75.21 on Wednesday. The business has a 50 day moving average price of $70.67 and a two-hundred day moving average price of $66.13. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of -11.00 and a beta of 0.42. Cytokinetics, Incorporated has a 12 month low of $31.99 and a 12 month high of $80.20.

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 firm had revenue of $19.36 million during the quarter, compared to analyst estimates of $8.52 million. The company’s revenue was up 1112.5% on a year-over-year basis. During the same period last year, the company earned ($1.36) EPS. On average, analysts expect 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.