Tema Etfs LLC Sells 8,306 Shares of Cytokinetics, Incorporated $CYTK

Tema Etfs LLC cut its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 38.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,278 shares of the biopharmaceutical company’s stock after selling 8,306 shares during the period. Tema Etfs LLC’s holdings in Cytokinetics were worth $844,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Cytokinetics in the third quarter valued at about $30,000. Advisory Services Network LLC bought a new position in shares of Cytokinetics during the third quarter worth about $32,000. Johnson Financial Group Inc. bought a new position in shares of Cytokinetics during the third quarter worth about $40,000. EverSource Wealth Advisors LLC raised 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 buying an additional 673 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in Cytokinetics in the 3rd quarter valued at approximately $45,000.

Cytokinetics Stock Up 0.2%

Shares of Cytokinetics stock opened at $66.73 on Friday. The stock has a market cap of $8.22 billion, a P/E ratio of -10.22 and a beta of 0.47. Cytokinetics, Incorporated has a 12-month low of $29.31 and a 12-month high of $70.98. The business’s 50 day moving average is $63.75 and its 200-day moving average is $61.89.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.48) by ($0.02). The company had revenue of $17.76 million for the quarter, compared to analyst estimates of $8.02 million. During the same period in the previous year, the company earned ($1.26) earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Insider Activity

In related news, EVP Sung Lee sold 4,935 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $62.15, for a total value of $306,710.25. Following the completion of the sale, the executive vice president directly owned 87,127 shares in the company, valued at approximately $5,414,943.05. This trade represents a 5.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Fady Ibraham Malik sold 12,033 shares of Cytokinetics stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $62.15, for a total value of $747,850.95. Following the transaction, the executive vice president owned 153,902 shares of the company’s stock, valued at $9,565,009.30. The trade was a 7.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 136,056 shares of company stock worth $8,395,947. Insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Morgan Stanley set a $90.00 price target on shares of Cytokinetics in a research note on Thursday, January 8th. B. Riley Financial boosted their price objective on shares of Cytokinetics from $90.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. The Goldman Sachs Group set a $95.00 target price on shares of Cytokinetics and gave the stock a “buy” rating in a report on Thursday, December 18th. Royal Bank Of Canada raised their target price on shares of Cytokinetics from $95.00 to $101.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. Finally, UBS Group boosted their price target on shares of Cytokinetics from $61.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, March 6th. Seventeen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.89.

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.