Lisanti Capital Growth LLC Boosts Stock Position in Cytokinetics, Incorporated $CYTK

Lisanti Capital Growth LLC boosted its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 51.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,200 shares of the biopharmaceutical company’s stock after buying an additional 25,130 shares during the quarter. Lisanti Capital Growth LLC’s holdings in Cytokinetics were worth $4,715,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its holdings in Cytokinetics by 723.7% in the second quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 673 shares during the last quarter. Quarry LP acquired a new position in Cytokinetics in the third quarter valued at $30,000. TD Waterhouse Canada Inc. acquired a new position in Cytokinetics in the fourth quarter valued at $32,000. Advisory Services Network LLC acquired a new position in Cytokinetics in the third quarter valued at $32,000. Finally, Johnson Financial Group Inc. acquired a new position in Cytokinetics in the third quarter valued at $40,000.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, EVP Andrew Callos sold 15,857 shares of Cytokinetics stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $65.00, for a total value of $1,030,705.00. Following the sale, the executive vice president owned 58,555 shares of the company’s stock, valued at approximately $3,806,075. The trade was a 21.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert I. Blum sold 7,500 shares of Cytokinetics stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $77.92, for a total value of $584,400.00. Following the completion of the sale, the chief executive officer directly owned 400,330 shares in the company, valued at $31,193,713.60. This represents a 1.84% 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. In the last 90 days, insiders have sold 177,476 shares of company stock valued at $11,294,769. 2.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CYTK has been the subject of several research analyst reports. Citizens Jmp upped their price objective on shares of Cytokinetics from $88.00 to $96.00 and gave the company a “market outperform” rating in a research note on Wednesday, February 25th. Morgan Stanley upped their price objective on shares of Cytokinetics from $90.00 to $103.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. UBS Group set a $119.00 price objective on shares of Cytokinetics in a research note on Wednesday, May 6th. Mizuho increased their target price on shares of Cytokinetics from $84.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytokinetics in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Cytokinetics currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.30.

Cytokinetics Stock Performance

CYTK stock opened at $76.94 on Friday. Cytokinetics, Incorporated has a one year low of $29.81 and a one year high of $80.20. The stock has a market capitalization of $9.57 billion, a PE ratio of -11.25 and a beta of 0.38. The company has a fifty day moving average of $67.38 and a 200-day moving average of $65.13.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, meeting analysts’ consensus estimates of ($1.67). The business had revenue of $19.36 million during the quarter, compared to analysts’ expectations of $8.52 million. During the same period in the prior year, the firm posted ($1.36) EPS. Cytokinetics’s revenue for the quarter was up 1112.5% compared to the same quarter last year. Equities analysts forecast that Cytokinetics, Incorporated will post -6.27 earnings per share for the current fiscal year.

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.