Mutual of America Capital Management LLC Has $1.43 Million Stock Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Mutual of America Capital Management LLC lifted its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 2.0% in the fourth quarter, HoldingsChannel reports. The firm owned 17,162 shares of the biopharmaceutical company’s stock after purchasing an additional 337 shares during the period. Mutual of America Capital Management LLC’s holdings in Cytokinetics were worth $1,433,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CYTK. Belpointe Asset Management LLC lifted its stake in Cytokinetics by 76.2% during the first quarter. Belpointe Asset Management LLC now owns 786 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 340 shares in the last quarter. Natixis acquired a new stake in shares of Cytokinetics during the fourth quarter valued at approximately $73,000. Chilton Capital Management LLC purchased a new stake in shares of Cytokinetics in the 1st quarter valued at approximately $80,000. China Universal Asset Management Co. Ltd. boosted its stake in Cytokinetics by 96.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,463 shares of the biopharmaceutical company’s stock worth $73,000 after purchasing an additional 1,209 shares during the period. Finally, Caprock Group LLC acquired a new position in Cytokinetics in the 4th quarter worth approximately $216,000.

Analyst Upgrades and Downgrades

CYTK has been the subject of several recent analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $90.00 target price (up previously from $60.00) on shares of Cytokinetics in a research report on Friday, January 5th. Raymond James raised their price objective on Cytokinetics from $63.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, December 28th. HC Wainwright reissued a “buy” rating and issued a $94.00 price target on shares of Cytokinetics in a research report on Wednesday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $108.00 price objective on shares of Cytokinetics in a research report on Tuesday, April 9th. Finally, Truist Financial reiterated a “buy” rating and issued a $86.00 price objective on shares of Cytokinetics in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Cytokinetics currently has an average rating of “Moderate Buy” and a consensus price target of $79.33.

Insider Activity at Cytokinetics

In related news, CEO Robert I. Blum sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $79.57, for a total value of $994,625.00. Following the completion of the sale, the chief executive officer now directly owns 441,797 shares in the company, valued at approximately $35,153,787.29. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Cytokinetics news, CEO Robert I. Blum sold 12,500 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $79.57, for a total value of $994,625.00. Following the completion of the sale, the chief executive officer now directly owns 441,797 shares of the company’s stock, valued at approximately $35,153,787.29. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total transaction of $2,585,576.50. Following the sale, the executive vice president now owns 142,973 shares in the company, valued at $11,337,758.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,314 shares of company stock valued at $8,588,205. Corporate insiders own 3.80% of the company’s stock.

Cytokinetics Trading Up 0.8 %

Cytokinetics stock opened at $67.55 on Monday. Cytokinetics, Incorporated has a 1-year low of $25.98 and a 1-year high of $110.25. The firm’s fifty day simple moving average is $71.10 and its 200-day simple moving average is $58.98. The company has a market capitalization of $7.06 billion, a P/E ratio of -12.39 and a beta of 0.68.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The business had revenue of $1.70 million during the quarter, compared to the consensus estimate of $7.62 million. During the same quarter in the prior year, the business posted ($1.45) EPS. Cytokinetics’s quarterly revenue was down 10.5% on a year-over-year basis. On average, equities research analysts predict that Cytokinetics, Incorporated will post -4.5 earnings per share for the current year.

Cytokinetics Profile

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.