In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Cytokinetics Inc. (NASDAQ:CYTK) reported that Biotechnology Value Fund L P has picked up 1,458,738 of common stock as of 2017-05-15.
The acquisition brings the aggregate amount owned by Biotechnology Value Fund L P to a total of 1,458,738 representing less than 2.9% stake in the company.
For those not familiar with the company, 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. Its drug candidates, which are in clinical development include tirasemtiv, CK-2127107 and omecamtiv mecarbil. Its tirasemtiv and CK-2127107 are skeletal muscle troponin activators. It is developing tirasemtiv drug candidate for the treatment of Amyotrophic lateral sclerosis (ALS). The Company is developing CK-2127107 for the potential treatment of spinal muscular atrophy, chronic obstructive pulmonary disease and ALS. The Omecamtiv mecarbil is a cardiac muscle myosin activator, which is being evaluated for the treatment of heart failure.
A glance at Cytokinetics Inc. (NASDAQ:CYTK)’s key stats reveals a current market capitalization of 708.36 Million based on 48.68 Million shares outstanding and a price at last close of $14.35 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-08-31, Gage picked up 1,000 at a purchase price of $6.95. This brings their total holding to 1,850 as of the date of the filing.
On the sell side, the most recent transaction saw Malik unload 1,326 shares at a sale price of $12.52. This brings their total holding to 35.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Cytokinetics Inc. (NASDAQ:CYTK) as things move forward to see if its progress aligns with these transactions.
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