New York State Common Retirement Fund Has $2.63 Million Position in Cytokinetics, Incorporated $CYTK

New York State Common Retirement Fund grew its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 24.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,875 shares of the biopharmaceutical company’s stock after purchasing an additional 9,308 shares during the quarter. New York State Common Retirement Fund’s holdings in Cytokinetics were worth $2,631,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its holdings in Cytokinetics by 723.7% during the second quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 673 shares during the last quarter. Hantz Financial Services Inc. raised its position in shares of Cytokinetics by 2,872.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 1,264 shares during the period. Farther Finance Advisors LLC boosted its stake in Cytokinetics by 68.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,115 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 453 shares during the last quarter. Root Financial Partners LLC acquired a new position in Cytokinetics during the third quarter valued at approximately $80,000. Finally, GAMMA Investing LLC raised its holdings in Cytokinetics by 109.4% in the third quarter. GAMMA Investing LLC now owns 1,472 shares of the biopharmaceutical company’s stock worth $81,000 after purchasing an additional 769 shares during the period.

Cytokinetics Stock Performance

Shares of NASDAQ CYTK opened at $62.34 on Friday. The stock has a 50 day moving average price of $63.35 and a 200 day moving average price of $55.62. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $70.98. The stock has a market capitalization of $7.62 billion, a PE ratio of -9.91 and a beta of 0.54.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, topping the consensus estimate of ($1.59) by $0.05. The company had revenue of $1.94 million for the quarter, compared to analyst estimates of $6.05 million. The firm’s revenue for the quarter was up 318.1% compared to the same quarter last year. During the same period last year, the firm earned ($1.36) EPS. As a group, research analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Insider Buying and Selling

In other news, Director Wendell Wierenga sold 20,000 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $66.14, for a total transaction of $1,322,800.00. Following the transaction, the director directly owned 32,444 shares in the company, valued at $2,145,846.16. The trade was a 38.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John T. Henderson sold 8,750 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $63.90, for a total transaction of $559,125.00. Following the completion of the sale, the director owned 74,578 shares of the company’s stock, valued at $4,765,534.20. This trade represents a 10.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 163,760 shares of company stock worth $10,623,787. Corporate insiders own 2.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Cytokinetics from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. HC Wainwright lifted their target price on Cytokinetics from $120.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Jefferies Financial Group reissued a “buy” rating and issued a $90.00 target price on shares of Cytokinetics in a research note on Friday, January 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Cytokinetics in a report on Wednesday, January 21st. Finally, The Goldman Sachs Group set a $95.00 price objective on Cytokinetics and gave the company a “buy” rating in a research report on Thursday, December 18th. Seventeen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.42.

Cytokinetics Company Profile

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.