State of Alaska Department of Revenue Decreases Stake in Cytokinetics, Incorporated $CYTK

State of Alaska Department of Revenue lowered its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 2.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,455 shares of the biopharmaceutical company’s stock after selling 365 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cytokinetics were worth $444,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its stake in Cytokinetics by 42.2% in the first quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 291 shares during the last quarter. GAMMA Investing LLC lifted its stake in Cytokinetics by 281.0% in the first quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 826 shares during the last quarter. UMB Bank n.a. lifted its stake in Cytokinetics by 91.4% in the first quarter. UMB Bank n.a. now owns 1,156 shares of the biopharmaceutical company’s stock worth $46,000 after acquiring an additional 552 shares during the last quarter. Assetmark Inc. lifted its stake in Cytokinetics by 11,510.0% in the first quarter. Assetmark Inc. now owns 1,161 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 1,151 shares during the last quarter. Finally, Covestor Ltd lifted its position in shares of Cytokinetics by 1,053.0% during the 1st quarter. Covestor Ltd now owns 1,914 shares of the biopharmaceutical company’s stock worth $77,000 after buying an additional 1,748 shares during the last quarter.

Insider Activity at Cytokinetics

In related news, Director Edward M. Md Kaye sold 6,757 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $60.00, for a total value of $405,420.00. Following the transaction, the director owned 9,778 shares in the company, valued at approximately $586,680. This trade represents a 40.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $49.28, for a total transaction of $98,560.00. Following the completion of the sale, the executive vice president directly owned 140,610 shares of the company’s stock, valued at $6,929,260.80. This trade represents a 1.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,208 shares of company stock worth $2,555,581. Company insiders own 2.70% of the company’s stock.

Cytokinetics Price Performance

Cytokinetics stock opened at $60.31 on Friday. Cytokinetics, Incorporated has a 12-month low of $29.31 and a 12-month high of $61.48. The stock has a market capitalization of $7.22 billion, a P/E ratio of -11.83 and a beta of 0.67. The firm’s 50-day moving average is $45.55 and its two-hundred day moving average is $39.05.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.12) earnings per share for the quarter, topping the consensus estimate of ($1.34) by $0.22. The company had revenue of $66.77 million for the quarter, compared to analysts’ expectations of $1.95 million. During the same quarter in the previous year, the company earned ($1.31) earnings per share. The company’s revenue was up 26727.3% on a year-over-year basis. As a group, analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on CYTK. Needham & Company LLC restated a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Tuesday, September 2nd. Bank of America boosted their price objective on shares of Cytokinetics from $52.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, October 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Cytokinetics in a research report on Wednesday. Stifel Nicolaus boosted their price objective on shares of Cytokinetics from $87.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, September 2nd. Finally, Barclays lifted their target price on shares of Cytokinetics from $71.00 to $82.00 and gave the company an “overweight” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.64.

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.