Cytokinetics, Incorporated (CYTK) Rose on Successful Clinical Trial
Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Small Cap Growth Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. Small-cap stocks had excellent increases in the fourth quarter, following disappointing results in the third quarter. The Russell 2000 Growth Index (up 12.75%) fell behind the Russell 2000 Value Index (up 15.25%) for the second consecutive quarter. Small-cap companies performed well overall, with the Russell 2000 Growth Index (up 18.66%) outperforming the Russell 2000 Value Index (up 14.63%) for the year. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Carillon Eagle Small Cap Growth Fund featured stocks such as Cytokinetics, Incorporated (NASDAQ:CYTK) in its Q4 2023 investor letter. Headquartered in South San Francisco, California, Cytokinetics, Incorporated (NASDAQ:CYTK) is a biopharmaceutical company. On February 9, 2024, Cytokinetics, Incorporated (NASDAQ:CYTK) stock closed at $76.94 per share. One-month return of Cytokinetics, Incorporated (NASDAQ:CYTK) was -10.12%, and its shares gained 76.55% of their value over the last 52 weeks. Cytokinetics, Incorporated (NASDAQ:CYTK) has a market capitalization of $7.734 billion.
Carillon Eagle Small Cap Growth Fund stated the following regarding Cytokinetics, Incorporated (NASDAQ:CYTK) in its fourth quarter 2023 investor letter:
"Cytokinetics, Incorporated (NASDAQ:CYTK) is a clinical-stage biopharmaceutical company focusing on the discovery and development of therapeutic agents that modulate muscle function for the treatment of diseases and medical conditions. The company reported success in clinical trials for Aficamten, a treatment for symptomatic obstructive hypertrophic cardiomyopathy. Investors are optimistic about the prospects for this medication, which could turn out to be a safer, more effective alternative to the current market leader."
A biopharmaceutical laboratory, with researchers carefully studying a vial of dimethyl fumarate.
Cytokinetics, Incorporated (NASDAQ:CYTK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held Cytokinetics, Incorporated (NASDAQ:CYTK) at the end of third quarter which was 34 in the previous quarter.
We discussed Cytokinetics, Incorporated (NASDAQ:CYTK) in another article and shared the list of most promising biotech stocks to buy according to analysts. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
