Monaco Asset Management SAM Acquires 77,500 Shares of Cytokinetics, Incorporated $CYTK

Monaco Asset Management SAM raised its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 182.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 120,000 shares of the biopharmaceutical company’s stock after buying an additional 77,500 shares during the quarter. Cytokinetics comprises approximately 0.4% of Monaco Asset Management SAM’s investment portfolio, making the stock its 14th biggest holding. Monaco Asset Management SAM owned 0.10% of Cytokinetics worth $6,595,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in 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 in the last quarter. Fifth Third Bancorp raised its stake in shares of Cytokinetics by 32.3% in the 3rd quarter. Fifth Third Bancorp now owns 1,072 shares of the biopharmaceutical company’s stock valued at $59,000 after purchasing an additional 262 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Cytokinetics by 68.4% in the third 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 in the last quarter. Hantz Financial Services Inc. boosted its position in shares of Cytokinetics by 2,872.7% during the second quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 1,264 shares during the period. Finally, Root Financial Partners LLC acquired a new position in shares of Cytokinetics during the third quarter worth about $80,000.

Cytokinetics Price Performance

Cytokinetics stock opened at $67.94 on Friday. Cytokinetics, Incorporated has a fifty-two week low of $29.31 and a fifty-two week high of $70.98. The firm has a market capitalization of $8.31 billion, a PE ratio of -10.80 and a beta of 0.54. The company’s 50-day moving average is $63.86 and its 200-day moving average is $57.53.

Insiders Place Their Bets

In other news, EVP Fady Ibraham Malik sold 2,200 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $61.24, for a total transaction of $134,728.00. Following the transaction, the executive vice president owned 138,552 shares in the company, valued at approximately $8,484,924.48. This trade represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrew Callos sold 52,486 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $65.95, for a total value of $3,461,451.70. Following the completion of the sale, the executive vice president owned 50,660 shares of the company’s stock, valued at $3,341,027. This trade represents a 50.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 151,385 shares of company stock worth $9,817,158 in the last 90 days. Corporate insiders own 2.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. UBS Group restated a “neutral” rating and issued a $61.00 target price on shares of Cytokinetics in a research note on Monday, December 1st. Jefferies Financial Group reiterated a “buy” rating and issued a $90.00 price objective on shares of Cytokinetics in a report on Friday, January 9th. Leerink Partners set a $83.00 target price on shares of Cytokinetics in a report on Monday, December 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytokinetics in a research note on Wednesday, January 21st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Cytokinetics from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Sixteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.28.

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.