Cytokinetics, Incorporated $CYTK Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 50.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,783 shares of the biopharmaceutical company’s stock after purchasing an additional 20,751 shares during the period. State of New Jersey Common Pension Fund D owned 0.05% of Cytokinetics worth $2,041,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. New York State Teachers Retirement System boosted its position in shares of Cytokinetics by 0.4% in the second quarter. New York State Teachers Retirement System now owns 114,500 shares of the biopharmaceutical company’s stock worth $3,783,000 after acquiring an additional 400 shares during the last quarter. J.Safra Asset Management Corp boosted its position in shares of Cytokinetics by 17.8% in the second quarter. J.Safra Asset Management Corp now owns 3,381 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 511 shares during the last quarter. TD Asset Management Inc boosted its position in shares of Cytokinetics by 21.8% in the second quarter. TD Asset Management Inc now owns 544,292 shares of the biopharmaceutical company’s stock worth $17,983,000 after acquiring an additional 97,464 shares during the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. boosted its position in shares of Cytokinetics by 571.2% in the second quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 1,082,563 shares of the biopharmaceutical company’s stock worth $35,768,000 after acquiring an additional 921,278 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of Cytokinetics by 12.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,591 shares of the biopharmaceutical company’s stock worth $449,000 after acquiring an additional 1,509 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CYTK. Barclays raised their target price on shares of Cytokinetics from $71.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, October 6th. JMP Securities reissued a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research report on Tuesday, September 2nd. Citigroup raised their target price on shares of Cytokinetics from $77.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, September 2nd. Raymond James Financial initiated coverage on shares of Cytokinetics in a research report on Wednesday, July 30th. They issued a “market perform” rating on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a report on Monday, September 29th. Thirteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $76.64.

Insider Activity

In other news, Director Edward M. Md Kaye sold 6,757 shares of Cytokinetics stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $60.00, for a total transaction of $405,420.00. Following the sale, the director owned 9,778 shares in the company, valued at $586,680. This trade represents a 40.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $60.03, for a total transaction of $300,150.00. Following the sale, the chief executive officer owned 363,108 shares in the company, valued at $21,797,373.24. This represents a 1.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 51,688 shares of company stock worth $2,787,069. Company insiders own 2.70% of the company’s stock.

Cytokinetics Stock Performance

NASDAQ CYTK opened at $61.99 on Thursday. Cytokinetics, Incorporated has a one year low of $29.31 and a one year high of $63.86. The company’s 50 day moving average price is $52.00 and its 200 day moving average price is $41.03. The firm has a market capitalization of $7.42 billion, a price-to-earnings ratio of -12.15 and a beta of 0.67.

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