What’s a smart Cytokinetics, Inc. (NASDAQ:CYTK) investor to do?
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Furthermore, we’re going to analyze the latest info about Cytokinetics, Inc. (NASDAQ:CYTK).
What have hedge funds been doing with Cytokinetics, Inc. (NASDAQ:CYTK)?
At Q2’s end, a total of 8 of the hedge funds we track held long positions in this stock, a change of 0% from one quarter earlier. With hedge funds’ capital changing hands, there exists a select group of noteworthy hedge fund managers who were upping their stakes significantly.
According to our 13F database, Deerfield Management, managed by James E. Flynn, holds the largest position in Cytokinetics, Inc. (NASDAQ:CYTK). Deerfield Management has a $20.6 million position in the stock, comprising 1% of its 13F portfolio. The second largest stake is held by Paul Ruddock and Steve Heinz of Lansdowne Partners, with a $20.1 million position; 0.3% of its 13F portfolio is allocated to the company. Other hedge funds with similar optimism include Israel Englander’s Millennium Management, and Millennium Management Subsidiary’s Green Arrow Capital Management.
As Cytokinetics, Inc. (NASDAQ:CYTK) has witnessed a fall in interest from upper-tier hedge fund managers, it’s easy to see that there lies a certain “tier” of hedge funds that elected to cut their full holdings last quarter. Interestingly, Anand Parekh’s Alyeska Investment Group said goodbye to the largest stake of the 450+ funds we watch, worth about $0.6 million in call options.. Anand Parekh’s fund, Alyeska Investment Group, also cut its call options., about $0.5 million worth. These moves are important to note, as total hedge fund interest stayed the same (this is a bearish signal in our experience).
How have insiders been trading Cytokinetics, Inc. (NASDAQ:CYTK)?
Bullish insider trading is at its handiest when the company in focus has seen transactions within the past six months. Over the latest 180-day time period, Cytokinetics, Inc. (NASDAQ:CYTK) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll check out the relationship between both of these indicators in other stocks similar to Cytokinetics, Inc. (NASDAQ:CYTK). These stocks are ShangPharma Corp (ADR) (NYSE:SHP), ArQule, Inc. (NASDAQ:ARQL), OncoGenex Pharmaceuticals Inc (NASDAQ:OGXI), Enzon Pharmaceuticals, Inc. (NASDAQ:ENZN), and Durata Therapeutics Inc (NASDAQ:DRTX). This group of stocks are in the biotechnology industry and their market caps are similar to CYTK’s market cap.