Checkpoint Capital L.P. Invests $2.07 Million in Cytokinetics, Incorporated $CYTK

Checkpoint Capital L.P. acquired a new stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 37,587 shares of the biopharmaceutical company’s stock, valued at approximately $2,066,000. Cytokinetics comprises approximately 0.7% of Checkpoint Capital L.P.’s investment portfolio, making the stock its 10th biggest position.

A number of other large investors also recently modified their holdings of CYTK. Lisanti Capital Growth LLC bought a new position in Cytokinetics during the third quarter valued at approximately $2,697,000. Sanders Morris Harris LLC bought a new stake in shares of Cytokinetics in the 3rd quarter worth approximately $1,182,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Cytokinetics in the 3rd quarter worth approximately $1,359,000. Moody Aldrich Partners LLC purchased a new stake in shares of Cytokinetics in the 3rd quarter valued at $4,532,000. Finally, Norges Bank purchased a new stake in shares of Cytokinetics in the 2nd quarter valued at $39,122,000.

Cytokinetics Stock Up 0.1%

NASDAQ:CYTK opened at $60.06 on Friday. The firm has a market capitalization of $7.40 billion, a P/E ratio of -9.20 and a beta of 0.56. The company has a fifty day moving average of $63.92 and a 200 day moving average of $60.41. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $70.98.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.02). The business had revenue of $17.76 million for the quarter, compared to analyst estimates of $8.02 million. During the same quarter in the previous year, the business posted ($1.26) earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. As a group, analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Insider Activity

In other Cytokinetics news, EVP Andrew Callos sold 2,582 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $60.72, for a total transaction of $156,779.04. Following the completion of the transaction, the executive vice president owned 47,858 shares of the company’s stock, valued at $2,905,937.76. This represents a 5.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Fady Ibraham Malik sold 2,907 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $60.72, for a total value of $176,513.04. Following the transaction, the executive vice president directly owned 138,629 shares of the company’s stock, valued at $8,417,552.88. The trade was a 2.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 96,113 shares of company stock valued at $5,994,726. Company insiders own 2.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $90.00 target price on shares of Cytokinetics in a research report on Friday, January 9th. Barclays started coverage on shares of Cytokinetics in a research report on Wednesday, January 28th. They set an “overweight” rating and a $87.00 price target for the company. Leerink Partners reaffirmed an “outperform” rating on shares of Cytokinetics in a research note on Tuesday. Citigroup reiterated a “market outperform” rating on shares of Cytokinetics in a report on Monday, December 22nd. Finally, UBS Group boosted their target price on Cytokinetics from $61.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, March 6th. Seventeen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $89.00.

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.