Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Bought by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC increased its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTKFree Report) by 240.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,437 shares of the biopharmaceutical company’s stock after acquiring an additional 41,275 shares during the period. Mutual of America Capital Management LLC owned approximately 0.06% of Cytokinetics worth $4,097,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. FORA Capital LLC grew its holdings in Cytokinetics by 758.0% during the first quarter. FORA Capital LLC now owns 82,776 shares of the biopharmaceutical company’s stock worth $5,803,000 after acquiring an additional 73,128 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Cytokinetics by 10.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,423 shares of the biopharmaceutical company’s stock worth $4,166,000 after acquiring an additional 5,676 shares during the period. Retirement Systems of Alabama acquired a new position in Cytokinetics during the first quarter worth about $8,633,000. Van ECK Associates Corp acquired a new position in Cytokinetics during the first quarter worth about $4,059,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Cytokinetics by 19.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,416 shares of the biopharmaceutical company’s stock worth $239,000 after acquiring an additional 558 shares during the period.

Insider Activity at Cytokinetics

In related news, Director Robert Arthur Harrington sold 1,580 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $48.64, for a total value of $76,851.20. Following the completion of the transaction, the director now directly owns 15,541 shares in the company, valued at $755,914.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Robert I. Blum sold 11,500 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $54.29, for a total transaction of $624,335.00. Following the transaction, the chief executive officer now owns 399,412 shares of the company’s stock, valued at $21,684,077.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Arthur Harrington sold 1,580 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $48.64, for a total value of $76,851.20. Following the transaction, the director now directly owns 15,541 shares in the company, valued at approximately $755,914.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,341 shares of company stock worth $7,800,408. 3.40% of the stock is owned by corporate insiders.

Cytokinetics Price Performance

Shares of Cytokinetics stock opened at $54.93 on Thursday. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of -10.17 and a beta of 0.75. Cytokinetics, Incorporated has a 52-week low of $25.98 and a 52-week high of $110.25. The stock has a 50-day simple moving average of $55.25 and a 200-day simple moving average of $67.96.

Cytokinetics (NASDAQ:CYTKGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($1.16) by ($0.17). The business had revenue of $0.84 million during the quarter, compared to the consensus estimate of $0.91 million. The firm’s revenue for the quarter was down 81.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.38) earnings per share. As a group, equities research analysts predict that Cytokinetics, Incorporated will post -4.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Oppenheimer lowered their target price on Cytokinetics from $107.00 to $106.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Needham & Company LLC decreased their price target on Cytokinetics from $108.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Barclays decreased their price target on Cytokinetics from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. JPMorgan Chase & Co. decreased their price target on Cytokinetics from $77.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Finally, B. Riley decreased their price target on Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $77.06.

View Our Latest Stock Report on CYTK

Cytokinetics Profile

(Free Report)

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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