Janus Henderson Group PLC Takes $32.49 Million Position in Cytokinetics, Incorporated (CYTK)
Janus Henderson Group PLC bought a new position in Cytokinetics, Incorporated (NASDAQ:CYTK) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,684,930 shares of the biopharmaceutical company’s stock, valued at approximately $32,488,000. Janus Henderson Group PLC owned 5.00% of Cytokinetics, at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new stake in Cytokinetics, in the 2nd quarter worth approximately $109,000. Municipal Employees Retirement System of Michigan bought a new stake in Cytokinetics, in the 2nd quarter worth approximately $132,000. Bank of America Corp DE grew its position in Cytokinetics, by 36.8% in the 1st quarter. Bank of America Corp DE now owns 12,571 shares of the biopharmaceutical company’s stock worth $162,000 after purchasing an additional 3,383 shares during the period. BNP Paribas Arbitrage SA grew its position in Cytokinetics, by 4,464.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,328 shares of the biopharmaceutical company’s stock worth $161,000 after purchasing an additional 13,036 shares during the period. Finally, Parametric Portfolio Associates LLC grew its position in Cytokinetics, by 1.4% in the 1st quarter. Parametric Portfolio Associates LLC now owns 13,333 shares of the biopharmaceutical company’s stock worth $171,000 after purchasing an additional 189 shares during the period. 71.50% of the stock is owned by institutional investors and hedge funds.
Cytokinetics, Incorporated (NASDAQ:CYTK) opened at 15.40 on Tuesday. Cytokinetics, Incorporated has a 1-year low of $8.77 and a 1-year high of $17.20. The company’s 50 day moving average is $14.65 and its 200-day moving average is $13.88. The stock’s market cap is $826.46 million.
Cytokinetics, (NASDAQ:CYTK) last announced its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.57) by ($0.03). Cytokinetics, had a negative return on equity of 14.15% and a negative net margin of 16.00%. The firm had revenue of $3.05 million for the quarter, compared to analysts’ expectations of $5.28 million. Equities research analysts forecast that Cytokinetics, Incorporated will post ($2.51) earnings per share for the current fiscal year.
CYTK has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Cytokinetics, from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Tuesday, July 11th. BidaskClub upgraded shares of Cytokinetics, from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Morgan Stanley initiated coverage on shares of Cytokinetics, in a research note on Monday, July 31st. They set an “overweight” rating and a $24.00 price target on the stock. HC Wainwright set a $26.00 price target on shares of Cytokinetics, and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, Cowen and Company reiterated a “buy” rating and set a $19.00 price target on shares of Cytokinetics, in a research note on Friday, August 4th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $21.64.
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In related news, insider Caryn Gordon Mcdowell sold 13,181 shares of the stock in a transaction on Friday, October 6th. The shares were sold at an average price of $15.49, for a total transaction of $204,173.69. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Bradley Paul Morgan sold 118,330 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $15.00, for a total transaction of $1,774,950.00. Following the sale, the senior vice president now directly owns 63,107 shares in the company, valued at $946,605. The disclosure for this sale can be found here. Insiders have sold 177,990 shares of company stock worth $2,628,996 over the last three months. 7.20% of the stock is currently owned by insiders.
Cytokinetics, Incorporated is a late-stage biopharmaceutical company. The Company is focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions.
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