22,105 Shares in Cytokinetics, Incorporated (NASDAQ:CYTK) Purchased by Harvey Capital Management Inc.

Harvey Capital Management Inc. acquired a new position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 22,105 shares of the biopharmaceutical company’s stock, valued at approximately $1,040,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. UMB Bank n.a. boosted its holdings in shares of Cytokinetics by 65.6% during the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 238 shares during the period. Blue Trust Inc. lifted its position in Cytokinetics by 225.9% in the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 680 shares in the last quarter. Values First Advisors Inc. purchased a new stake in Cytokinetics in the 3rd quarter worth approximately $54,000. R Squared Ltd purchased a new position in shares of Cytokinetics during the 4th quarter valued at $133,000. Finally, Quarry LP grew its holdings in shares of Cytokinetics by 50.0% during the 3rd quarter. Quarry LP now owns 3,000 shares of the biopharmaceutical company’s stock valued at $158,000 after acquiring an additional 1,000 shares in the last quarter.

Insider Activity at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $50.55, for a total value of $252,750.00. Following the completion of the sale, the chief executive officer now directly owns 397,456 shares of the company’s stock, valued at $20,091,400.80. This represents a 1.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John T. Henderson sold 1,780 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $50.42, for a total transaction of $89,747.60. Following the transaction, the director now owns 38,461 shares in the company, valued at approximately $1,939,203.62. The trade was a 4.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,122 shares of company stock worth $1,654,806 in the last 90 days. 3.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CYTK shares. Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. Mizuho lifted their price target on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. JMP Securities reiterated a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research note on Friday, February 7th. Finally, Stifel Nicolaus assumed coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They set a “buy” rating and a $80.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Cytokinetics Stock Down 1.5 %

Shares of NASDAQ:CYTK opened at $41.56 on Wednesday. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The stock’s 50-day moving average is $47.95 and its 200-day moving average is $52.10. Cytokinetics, Incorporated has a 52-week low of $41.47 and a 52-week high of $81.36.

Cytokinetics Company 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.