New York State Common Retirement Fund lessened its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 7.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 56,122 shares of the biopharmaceutical company’s stock after selling 4,623 shares during the quarter. New York State Common Retirement Fund’s holdings in Cytokinetics were worth $2,006,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. US Bancorp DE increased its stake in Cytokinetics by 144.8% in the 2nd quarter. US Bancorp DE now owns 1,687 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 998 shares during the period. Birchview Capital LP acquired a new position in shares of Cytokinetics during the 2nd quarter worth $198,000. Mutual of America Capital Management LLC increased its stake in shares of Cytokinetics by 7.4% during the 2nd quarter. Mutual of America Capital Management LLC now owns 10,198 shares of the biopharmaceutical company’s stock worth $202,000 after purchasing an additional 701 shares during the last quarter. OLD Mission Capital LLC acquired a new position in shares of Cytokinetics during the 3rd quarter worth $239,000. Finally, Veracity Capital LLC acquired a new position in shares of Cytokinetics during the 3rd quarter worth $297,000. Hedge funds and other institutional investors own 91.62% of the company’s stock.
Several research analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Cytokinetics from $38.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, October 8th. Oppenheimer initiated coverage on shares of Cytokinetics in a research note on Tuesday, December 21st. They set an “outperform” rating and a $55.00 price target on the stock. Jefferies Financial Group initiated coverage on shares of Cytokinetics in a report on Wednesday, October 6th. They set a “buy” rating and a $75.00 price objective for the company. Zacks Investment Research raised shares of Cytokinetics from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Tuesday. Finally, Cantor Fitzgerald upped their price objective on shares of Cytokinetics from $48.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, October 12th. Fourteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $52.43.
Shares of Cytokinetics stock opened at $34.82 on Wednesday. The stock has a market capitalization of $2.92 billion, a P/E ratio of -11.27 and a beta of 1.23. The company has a quick ratio of 6.12, a current ratio of 6.12 and a debt-to-equity ratio of 0.50. The company has a 50-day simple moving average of $39.84 and a 200 day simple moving average of $34.00. Cytokinetics, Incorporated has a 12-month low of $17.72 and a 12-month high of $47.90.
Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Wednesday, November 3rd. The biopharmaceutical company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.20). The company had revenue of $5.44 million during the quarter, compared to analyst estimates of $5.46 million. Cytokinetics had a negative net margin of 1,061.13% and a negative return on equity of 204.75%. During the same quarter in the previous year, the business posted ($0.05) EPS. On average, equities analysts anticipate that Cytokinetics, Incorporated will post -3.24 earnings per share for the current year.
In other Cytokinetics news, insider David Cragg sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, November 9th. The shares were sold at an average price of $41.76, for a total value of $1,879,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction dated Thursday, October 14th. The shares were sold at an average price of $37.74, for a total transaction of $188,700.00. The disclosure for this sale can be found here. Insiders sold a total of 260,333 shares of company stock valued at $10,107,482 in the last 90 days. Corporate insiders own 5.70% of the company’s stock.
Cytokinetics Company Profile
Cytokinetics, Inc operates as a biopharmaceutical company. The firm focuses on the discovery and development of muscle activators as potential treatment for debilitating diseases. It conducts a Phase 2 clinical trials program for tirasemtiv, including a Phase 2b clinical trial in patients with ALS, known as BENEFIT-ALS (Blinded Evaluation of Neuromuscular Effects and Functional Improvement with Tirasemtiv in ALS).
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