Cytokinetics, Inc. (NASDAQ:CYTK) was in 8 hedge funds’ portfolio at the end of March. CYTK shareholders have witnessed an increase in support from the world’s most elite money managers of late. There were 7 hedge funds in our database with CYTK positions at the end of the previous quarter.
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Consequently, we’re going to take a peek at the recent action regarding Cytokinetics, Inc. (NASDAQ:CYTK).
Hedge fund activity in Cytokinetics, Inc. (NASDAQ:CYTK)
In preparation for this quarter, a total of 8 of the hedge funds we track held long positions in this stock, a change of 14% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a few notable hedge fund managers who were upping their holdings meaningfully.
Of the funds we track, James E. Flynn’s Deerfield Management had the most valuable position in Cytokinetics, Inc. (NASDAQ:CYTK), worth close to $14.7 million, comprising 0.9% of its total 13F portfolio. Coming in second is Lansdowne Partners, managed by Paul Ruddock and Steve Heinz, which held a $11.9 million position; the fund has 0.2% of its 13F portfolio invested in the stock. Some other hedgies that hold long positions include William Leland Edwards’s Palo Alto Investors, Anand Parekh’s Alyeska Investment Group and Anand Parekh’s Alyeska Investment Group.
As aggregate interest increased, some big names were breaking ground themselves. LMR Partners, managed by Ben Levine Andrew Manuel and Stefan Renold, established the biggest position in Cytokinetics, Inc. (NASDAQ:CYTK). LMR Partners had 0.1 million invested in the company at the end of the quarter.
How are insiders trading Cytokinetics, Inc. (NASDAQ:CYTK)?
Insider purchases made by high-level executives is best served when the company in question has seen transactions within the past six months. Over the last 180-day time period, Cytokinetics, Inc. (NASDAQ:CYTK) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
Let’s go over hedge fund and insider activity 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 the members of the biotechnology industry and their market caps are closest to CYTK’s market cap.