Profund Advisors LLC Sells 12,518 Shares of Cytokinetics, Incorporated $CYTK

Profund Advisors LLC decreased its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 32.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 25,930 shares of the biopharmaceutical company’s stock after selling 12,518 shares during the quarter. Profund Advisors LLC’s holdings in Cytokinetics were worth $1,425,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake in shares of Cytokinetics by 723.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 673 shares during the period. Hantz Financial Services Inc. raised its stake in Cytokinetics by 2,872.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 1,264 shares during the period. Farther Finance Advisors LLC lifted its holdings in Cytokinetics by 68.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,115 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 453 shares during the last quarter. Root Financial Partners LLC bought a new position in Cytokinetics during the third quarter worth $80,000. Finally, GAMMA Investing LLC boosted its position in Cytokinetics by 109.4% during the third quarter. GAMMA Investing LLC now owns 1,472 shares of the biopharmaceutical company’s stock worth $81,000 after purchasing an additional 769 shares during the period.

Analyst Ratings Changes

Several brokerages have recently weighed in on CYTK. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a research report on Tuesday, October 21st. The Goldman Sachs Group set a $95.00 price target on shares of Cytokinetics and gave the company a “buy” rating in a research note on Thursday, December 18th. Barclays started coverage on shares of Cytokinetics in a research report on Wednesday, January 28th. They set an “overweight” rating and a $87.00 price objective for the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 target price on shares of Cytokinetics in a research report on Friday, January 9th. Finally, Citigroup reiterated a “market outperform” rating on shares of Cytokinetics in a research note on Monday, December 22nd. Seventeen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.42.

Insider Activity

In other Cytokinetics news, EVP Andrew Callos sold 15,000 shares of Cytokinetics stock in a transaction on Thursday, February 5th. The stock was 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 of the company’s stock, valued at $3,123,749.20. The trade was a 22.92% 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, Director Wendell Wierenga sold 20,000 shares of the company’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $66.14, for a total value of $1,322,800.00. Following the sale, the director owned 32,444 shares of the company’s stock, valued at approximately $2,145,846.16. The trade was a 38.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 158,585 shares of company stock worth $10,286,998. Corporate insiders own 3.40% of the company’s stock.

Cytokinetics Stock Up 2.4%

Shares of Cytokinetics stock opened at $64.85 on Wednesday. The stock has a market capitalization of $7.93 billion, a price-to-earnings ratio of -10.31 and a beta of 0.54. Cytokinetics, Incorporated has a twelve month low of $29.31 and a twelve month high of $70.98. The company has a 50-day simple moving average of $63.33 and a two-hundred day simple moving average of $56.13.

Cytokinetics Company 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.