New York State Common Retirement Fund Increases Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

New York State Common Retirement Fund lifted its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 13.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,501 shares of the biopharmaceutical company’s stock after buying an additional 6,015 shares during the quarter. New York State Common Retirement Fund’s holdings in Cytokinetics were worth $4,300,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Cytokinetics by 4.6% in the third quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company’s stock worth $316,498,000 after acquiring an additional 472,595 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Cytokinetics in the fourth quarter worth approximately $46,308,000. Rhumbline Advisers lifted its stake in Cytokinetics by 1.1% in the third quarter. Rhumbline Advisers now owns 274,869 shares of the biopharmaceutical company’s stock worth $8,098,000 after acquiring an additional 3,005 shares during the last quarter. Rafferty Asset Management LLC raised its holdings in Cytokinetics by 10.0% during the third quarter. Rafferty Asset Management LLC now owns 246,922 shares of the biopharmaceutical company’s stock worth $7,274,000 after purchasing an additional 22,498 shares in the last quarter. Finally, Affinity Asset Advisors LLC raised its holdings in Cytokinetics by 84.1% during the third quarter. Affinity Asset Advisors LLC now owns 230,366 shares of the biopharmaceutical company’s stock worth $6,787,000 after purchasing an additional 105,218 shares in the last quarter.

Insider Buying and Selling

In related news, EVP Fady Ibraham Malik sold 32,605 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total value of $2,585,576.50. Following the sale, the executive vice president now directly owns 142,973 shares in the company, valued at approximately $11,337,758.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Fady Ibraham Malik sold 32,605 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total value of $2,585,576.50. Following the sale, the executive vice president now directly owns 142,973 shares in the company, valued at approximately $11,337,758.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John T. Henderson sold 5,000 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $76.48, for a total transaction of $382,400.00. Following the completion of the transaction, the director now directly owns 42,632 shares of the company’s stock, valued at approximately $3,260,495.36. The disclosure for this sale can be found here. Insiders have sold 113,376 shares of company stock worth $8,275,252 in the last three months. Corporate insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $108.00 price objective on shares of Cytokinetics in a report on Tuesday, April 9th. Truist Financial reissued a “buy” rating and set a $86.00 price objective on shares of Cytokinetics in a report on Monday, April 8th. UBS Group cut shares of Cytokinetics from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $61.00 to $92.00 in a report on Wednesday, January 24th. HC Wainwright reissued a “buy” rating and set a $94.00 price objective on shares of Cytokinetics in a report on Wednesday, February 28th. Finally, Oppenheimer reissued an “outperform” rating and set a $107.00 price objective on shares of Cytokinetics in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.33.

Cytokinetics Stock Performance

Shares of NASDAQ CYTK opened at $65.27 on Monday. The firm has a market capitalization of $6.83 billion, a P/E ratio of -11.98 and a beta of 0.72. Cytokinetics, Incorporated has a one year low of $25.98 and a one year high of $110.25. The company’s fifty day moving average is $68.57 and its two-hundred day moving average is $60.99.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The company had revenue of $1.70 million for the quarter, compared to analyst estimates of $7.62 million. During the same quarter in the previous year, the company earned ($1.45) EPS. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. On average, sell-side analysts forecast that Cytokinetics, Incorporated will post -4.5 earnings per share for the current fiscal year.

Cytokinetics Company 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.