Pinnacle Associates Ltd. Has $12.14 Million Stock Position in Cytokinetics, Incorporated $CYTK

Pinnacle Associates Ltd. reduced its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 5.2% during the 4th quarter, Holdings Channel reports. The firm owned 190,999 shares of the biopharmaceutical company’s stock after selling 10,491 shares during the period. Pinnacle Associates Ltd.’s holdings in Cytokinetics were worth $12,136,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund boosted its holdings in Cytokinetics by 1.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 24,415 shares of the biopharmaceutical company’s stock worth $1,551,000 after buying an additional 300 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Cytokinetics in the 4th quarter valued at approximately $315,000. Bailard Inc. bought a new position in Cytokinetics during the 4th quarter worth approximately $218,000. Crossmark Global Holdings Inc. boosted its stake in Cytokinetics by 4.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 8,162 shares of the biopharmaceutical company’s stock worth $519,000 after acquiring an additional 347 shares during the last quarter. Finally, Ethic Inc. grew its holdings in Cytokinetics by 76.9% during the fourth quarter. Ethic Inc. now owns 16,840 shares of the biopharmaceutical company’s stock valued at $1,070,000 after purchasing an additional 7,318 shares during the period.

Cytokinetics Trading Up 1.8%

Shares of NASDAQ CYTK opened at $78.64 on Friday. The firm has a market cap of $9.79 billion, a PE ratio of -11.50 and a beta of 0.38. Cytokinetics, Incorporated has a 1-year low of $29.31 and a 1-year high of $80.20. The company has a fifty day moving average price of $65.66 and a 200 day moving average price of $64.53.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share (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 business’s revenue for the quarter was up 1112.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.36) EPS. Equities research analysts forecast that Cytokinetics, Incorporated will post -6.31 EPS for the current year.

Insider Buying and Selling

In other Cytokinetics news, CEO Robert I. Blum sold 36,601 shares of the company’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 transaction of $2,274,752.15. Following the completion of the transaction, the chief executive officer owned 430,330 shares of the company’s stock, valued at $26,745,009.50. This represents a 7.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Andrew Callos sold 26,000 shares of Cytokinetics stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $61.87, for a total transaction of $1,608,620.00. Following the completion of the sale, the executive vice president owned 50,440 shares in the company, valued at $3,120,722.80. This trade represents a 34.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 177,476 shares of company stock worth $11,294,769. 2.60% of the stock is owned by corporate insiders.

Key Stories Impacting Cytokinetics

Here are the key news stories impacting Cytokinetics this week:

• Positive Sentiment: HC Wainwright raised multiple earnings estimates for Cytokinetics and reiterated a Buy rating with a $140 price target, reinforcing a bullish long-term view on the shares.
• Positive Sentiment: JPMorgan also lifted its price target on CYTK to $97, adding to the recent wave of analyst support.
• Positive Sentiment: Cytokinetics announced it will host its annual CLIMB symposium on muscle biology, which may help keep attention on its scientific pipeline and research leadership. Article: Cytokinetics to Host Annual Symposium on Contemporary Landscapes in Muscle Biology (CLIMB)
• Neutral Sentiment: HC Wainwright made only modest estimate changes for 2026–2028, indicating analysts still expect losses but see improving trends rather than a major fundamental shift.
• Neutral Sentiment: The CEO sold 7,500 shares under a pre-arranged 10b5-1 plan, which is worth noting but is not necessarily a negative signal because the sale was scheduled in advance. Article: SEC Form 4 filing for Robert I. Blum
• Neutral Sentiment: There was also unusually high options trading in CYTK, suggesting speculation, but not a clear directional catalyst by itself. Article: Cytokinetics Target of Unusually High Options Trading (NASDAQ:CYTK)

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of Cytokinetics from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Stifel Nicolaus upped their price objective on shares of Cytokinetics from $98.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Wall Street Zen raised Cytokinetics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Citizens Jmp boosted their target price on Cytokinetics from $88.00 to $96.00 and gave the company a “market outperform” rating in a research note on Wednesday, February 25th. Finally, Mizuho increased their price target on Cytokinetics from $84.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, March 18th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $98.55.

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.