Teachers Retirement System of The State of Kentucky Raises Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Teachers Retirement System of The State of Kentucky lifted its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTKGet Rating) by 14.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,383 shares of the biopharmaceutical company’s stock after buying an additional 6,977 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.06% of Cytokinetics worth $2,002,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. ETF Managers Group LLC acquired a new position in shares of Cytokinetics in the 4th quarter valued at $386,000. Mutual of America Capital Management LLC increased its holdings in shares of Cytokinetics by 5.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 12,087 shares of the biopharmaceutical company’s stock valued at $445,000 after acquiring an additional 627 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Cytokinetics by 7.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 19,834 shares of the biopharmaceutical company’s stock valued at $730,000 after acquiring an additional 1,419 shares during the period. Cubist Systematic Strategies LLC increased its holdings in shares of Cytokinetics by 90.6% in the 4th quarter. Cubist Systematic Strategies LLC now owns 105,851 shares of the biopharmaceutical company’s stock valued at $4,825,000 after acquiring an additional 50,327 shares during the period. Finally, Inspire Advisors LLC acquired a new position in shares of Cytokinetics in the 1st quarter valued at $555,000.

Insider Transactions at Cytokinetics

In related news, Director John T. Henderson sold 21,759 shares of the business’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $54.94, for a total value of $1,195,439.46. Following the sale, the director now directly owns 24,049 shares in the company, valued at approximately $1,321,252.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director John T. Henderson sold 21,759 shares of the business’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $54.94, for a total value of $1,195,439.46. Following the sale, the director now directly owns 24,049 shares in the company, valued at approximately $1,321,252.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Fady Ibraham Malik sold 21,500 shares of the business’s stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $43.43, for a total transaction of $933,745.00. Following the completion of the sale, the executive vice president now owns 168,346 shares in the company, valued at $7,311,266.78. The disclosure for this sale can be found here. Insiders have sold a total of 114,759 shares of company stock valued at $5,498,104 in the last ninety days. 5.00% of the stock is currently owned by company insiders.

Cytokinetics Stock Performance

NASDAQ:CYTK opened at $53.02 on Wednesday. The company has a quick ratio of 9.01, a current ratio of 9.01 and a debt-to-equity ratio of 1.77. Cytokinetics, Incorporated has a fifty-two week low of $29.26 and a fifty-two week high of $55.80. The stock has a market cap of $4.99 billion, a PE ratio of -20.47 and a beta of 1.05. The firm’s fifty day simple moving average is $48.50 and its 200-day simple moving average is $42.85.

Cytokinetics (NASDAQ:CYTKGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.81. Cytokinetics had a negative net margin of 142.85% and a negative return on equity of 118.37%. The business had revenue of $88.97 million for the quarter, compared to analysts’ expectations of $3.73 million. During the same period in the prior year, the company posted ($0.86) EPS. The business’s revenue for the quarter was up 3029.4% on a year-over-year basis. Analysts expect that Cytokinetics, Incorporated will post -3.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CYTK shares. Raymond James lifted their target price on shares of Cytokinetics from $54.00 to $63.00 in a report on Friday, August 5th. Morgan Stanley boosted their price objective on shares of Cytokinetics from $11.00 to $15.00 in a research note on Friday, August 12th. Piper Sandler boosted their price objective on shares of Cytokinetics from $50.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, June 9th. HC Wainwright reissued a “buy” rating and issued a $75.00 price objective on shares of Cytokinetics in a research note on Tuesday, May 24th. Finally, The Goldman Sachs Group dropped their price objective on shares of Cytokinetics from $71.00 to $57.00 and set a “buy” rating on the stock in a research note on Tuesday, May 24th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cytokinetics presently has an average rating of “Moderate Buy” and an average price target of $61.73.

About Cytokinetics

(Get Rating)

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.

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Institutional Ownership by Quarter for Cytokinetics (NASDAQ:CYTK)

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