Cytokinetics, Incorporated $CYTK Shares Purchased by GW&K Investment Management LLC

GW&K Investment Management LLC grew its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 161.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 472,363 shares of the biopharmaceutical company’s stock after buying an additional 291,693 shares during the period. GW&K Investment Management LLC’s holdings in Cytokinetics were worth $30,015,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its holdings in shares of Cytokinetics by 723.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 673 shares during the last quarter. Quarry LP bought a new position in Cytokinetics during the third quarter worth $30,000. TD Waterhouse Canada Inc. bought a new position in Cytokinetics during the fourth quarter worth $32,000. Advisory Services Network LLC acquired a new position in Cytokinetics in the third quarter worth $32,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Cytokinetics by 46.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 171 shares during the period.

Insider Buying and Selling

In related 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 sale, the chief executive officer directly owned 430,330 shares in the company, valued at $26,745,009.50. This trade represents a 7.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Fady Ibraham Malik sold 12,033 shares of Cytokinetics stock in a transaction 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 sale, the executive vice president directly owned 153,902 shares in the company, valued at $9,565,009.30. The trade was a 7.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 171,989 shares of company stock valued at $11,393,064 in the last three months. 2.60% of the stock is currently owned by corporate insiders.

Cytokinetics Stock Down 2.0%

Shares of NASDAQ:CYTK opened at $67.07 on Thursday. The company has a market cap of $8.35 billion, a PE ratio of -9.81 and a beta of 0.42. The company’s 50-day moving average price is $70.26 and its 200 day moving average price is $66.01. Cytokinetics, Incorporated has a fifty-two week low of $31.99 and a fifty-two week high of $80.20.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) EPS for the quarter, hitting the consensus estimate of ($1.67). The firm had revenue of $19.36 million during the quarter, compared to the consensus estimate of $8.52 million. During the same quarter last year, the company posted ($1.36) EPS. Cytokinetics’s revenue for the quarter was up 1112.5% on a year-over-year basis. As a group, equities analysts anticipate that Cytokinetics, Incorporated will post -6.29 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CYTK shares. Morgan Stanley increased their target price on shares of Cytokinetics from $90.00 to $103.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of Cytokinetics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Citizens Jmp boosted their price objective on shares of Cytokinetics from $88.00 to $96.00 and gave the company a “market outperform” rating in a research report on Wednesday, February 25th. Leerink Partners reiterated an “outperform” rating on shares of Cytokinetics in a research note on Tuesday, March 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cytokinetics in a report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $99.30.

About Cytokinetics

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.