Segall Bryant & Hamill LLC Lowers Holdings in Cytokinetics, Incorporated $CYTK

Segall Bryant & Hamill LLC trimmed its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 4.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 180,200 shares of the biopharmaceutical company’s stock after selling 9,313 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.14% of Cytokinetics worth $11,877,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CYTK. Vanguard Group Inc. increased its holdings in shares of Cytokinetics by 1.6% in the fourth 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. Royce & Associates LP grew its holdings in Cytokinetics by 44.3% during the 4th quarter. Royce & Associates LP now owns 144,426 shares of the biopharmaceutical company’s stock valued at $9,177,000 after buying an additional 44,343 shares in the last quarter. Norges Bank purchased a new position in Cytokinetics during the 4th quarter valued at approximately $51,281,000. GW&K Investment Management LLC increased its stake in Cytokinetics by 161.5% in the 4th quarter. GW&K Investment Management LLC now owns 472,363 shares of the biopharmaceutical company’s stock worth $30,015,000 after acquiring an additional 291,693 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Cytokinetics by 8.0% during the 4th quarter. Fisher Asset Management LLC now owns 822,885 shares of the biopharmaceutical company’s stock worth $52,286,000 after acquiring an additional 61,298 shares in the last quarter.

Key Headlines Impacting Cytokinetics

Here are the key news stories impacting Cytokinetics this week:

• Positive Sentiment: UK approval and reimbursement support: The Medicines and Healthcare products Regulatory Agency authorized MYQORZO® (aficamten) across the United Kingdom for eligible adults with symptomatic obstructive hypertrophic cardiomyopathy. NICE also recommended aficamten for use in England and Wales, potentially expanding access to roughly 6,600 NHS patients. Commercial availability is expected later this year, creating a potential new revenue stream. Cytokinetics wins UK approval, NICE backing for heart disease drug
• Positive Sentiment: Encouraging clinical evidence: The UK decisions were supported by the phase 3 SEQUOIA-HCM trial, in which aficamten significantly improved peak oxygen uptake versus placebo. This strengthens the commercial case for the company’s lead cardiovascular drug. Cytokinetics announces MHRA authorization and NICE guidance
• Positive Sentiment: Generally favorable analyst view: Brokerages maintain a consensus “Moderate Buy” rating, with a reported average price target near $99.90, above recent trading levels. Some firms have set targets between $105 and $118. Cytokinetics receives Moderate Buy consensus rating
• Neutral Sentiment: Upcoming earnings catalyst: Analysts expect CYTK could exceed estimates in its upcoming second-quarter report. However, Cytokinetics remains unprofitable, and its prior quarter reported a loss of $1.67 per share despite revenue exceeding expectations. Cytokinetics earnings expectations
• Negative Sentiment: Continued insider selling: EVP Andrew Callos sold 14,000 shares worth approximately $1.12 million, reducing his ownership by 19.3%. The sale was made under a pre-arranged Rule 10b5-1 plan, limiting its value as a discretionary bearish signal, but it follows a broader pattern of insider sales without reported purchases in recent months. SEC insider trading filing

Insider Buying and Selling at Cytokinetics

In other news, CEO Robert I. Blum sold 7,500 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $84.92, for a total value of $636,900.00. Following the sale, the chief executive officer owned 377,830 shares of the company’s stock, valued at approximately $32,085,323.60. This represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Callos sold 15,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $74.08, for a total transaction of $1,111,200.00. Following the completion of the sale, the executive vice president owned 58,555 shares of the company’s stock, valued at $4,337,754.40. This trade represents a 20.39% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 118,679 shares of company stock worth $9,396,849 over the last quarter. Insiders own 2.60% of the company’s stock.

Cytokinetics Stock Performance

Shares of Cytokinetics stock opened at $77.13 on Monday. The stock has a market cap of $9.60 billion, a price-to-earnings ratio of -11.28 and a beta of 0.42. The stock has a 50 day moving average price of $78.75 and a 200-day moving average price of $70.43. Cytokinetics, Incorporated has a one year low of $32.89 and a one year high of $88.31.

Cytokinetics (NASDAQ:CYTK) last released its quarterly 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 company had revenue of $19.36 million for the quarter, compared to analysts’ expectations of $8.52 million. The business’s quarterly revenue was up 1112.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.36) EPS. Sell-side analysts predict that Cytokinetics, Incorporated will post -6.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Mizuho increased their target price on Cytokinetics from $100.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, June 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Cytokinetics in a research report on Friday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $102.00 price target on shares of Cytokinetics in a research note on Wednesday, June 17th. Morgan Stanley increased their price objective on shares of Cytokinetics from $90.00 to $103.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada dropped their price objective on shares of Cytokinetics from $119.00 to $117.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $99.90.

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.