Westfield Capital Management Co. LP Has $64.04 Million Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

Westfield Capital Management Co. LP increased its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 38.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,212,886 shares of the biopharmaceutical company’s stock after buying an additional 339,373 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Cytokinetics were worth $64,040,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CYTK. J.Safra Asset Management Corp lifted its position in shares of Cytokinetics by 642.3% during the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 456 shares during the period. UMB Bank n.a. raised its stake in Cytokinetics by 65.6% in the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 238 shares in the last quarter. Blue Trust Inc. lifted its position in Cytokinetics by 225.9% during the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 680 shares during the period. Values First Advisors Inc. bought a new stake in Cytokinetics during the third quarter worth about $54,000. Finally, Bessemer Group Inc. grew its stake in Cytokinetics by 25,100.0% during the first quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock worth $88,000 after buying an additional 1,255 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have recently weighed in on CYTK shares. Royal Bank of Canada initiated coverage on shares of Cytokinetics in a report on Friday, November 8th. They set an “outperform” rating and a $80.00 price target for the company. HC Wainwright restated a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research note on Monday, November 18th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. The Goldman Sachs Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $85.00 to $60.00 in a research report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. raised their price objective on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $83.93.

Cytokinetics Stock Up 3.0 %

NASDAQ:CYTK opened at $49.10 on Monday. Cytokinetics, Incorporated has a one year low of $30.68 and a one year high of $110.25. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The company has a market cap of $5.79 billion, a PE ratio of -9.13 and a beta of 0.78. The firm’s 50 day simple moving average is $53.60 and its 200 day simple moving average is $54.66.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The firm had revenue of $0.46 million for the quarter, compared to the consensus estimate of $1.21 million. During the same quarter in the previous year, the business posted ($1.35) EPS. The business’s revenue for the quarter was up 22.5% compared to the same quarter last year. On average, research analysts anticipate that Cytokinetics, Incorporated will post -5.25 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $51.91, for a total transaction of $378,943.00. Following the completion of the transaction, the executive vice president now owns 114,920 shares of the company’s stock, valued at $5,965,497.20. This trade represents a 5.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $50.55, for a total transaction of $252,750.00. Following the sale, the chief executive officer now directly owns 397,456 shares in the company, valued at $20,091,400.80. This trade represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,078 shares of company stock valued at $3,514,119. 3.40% of the stock is currently owned by company insiders.

Cytokinetics Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.