State of Tennessee Department of Treasury Decreases Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

State of Tennessee Department of Treasury cut its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 44,866 shares of the biopharmaceutical company’s stock after selling 1,266 shares during the period. State of Tennessee Department of Treasury’s holdings in Cytokinetics were worth $2,110,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Retirement Systems of Alabama lifted its position in shares of Cytokinetics by 1.0% during the 3rd quarter. Retirement Systems of Alabama now owns 142,930 shares of the biopharmaceutical company’s stock valued at $7,547,000 after buying an additional 1,414 shares in the last quarter. Exome Asset Management LLC purchased a new stake in Cytokinetics during the 3rd quarter valued at $3,093,000. Harbor Capital Advisors Inc. grew its position in Cytokinetics by 6.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 45,130 shares of the biopharmaceutical company’s stock valued at $2,123,000 after acquiring an additional 2,604 shares during the last quarter. Mirador Capital Partners LP grew its position in Cytokinetics by 1.6% in the 4th quarter. Mirador Capital Partners LP now owns 65,636 shares of the biopharmaceutical company’s stock valued at $3,088,000 after acquiring an additional 1,010 shares during the last quarter. Finally, Inspire Investing LLC grew its position in shares of Cytokinetics by 7.8% during the 4th quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock worth $400,000 after buying an additional 616 shares in the last quarter.

Cytokinetics Stock Up 2.0 %

Shares of NASDAQ CYTK opened at $41.22 on Tuesday. The company has a market capitalization of $4.91 billion, a P/E ratio of -7.66 and a beta of 0.94. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The company has a 50 day simple moving average of $41.99 and a 200-day simple moving average of $47.01. Cytokinetics, Incorporated has a 1 year low of $32.74 and a 1 year high of $68.44.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, beating the consensus estimate of ($1.29) by $0.03. The firm had revenue of $16.93 million for the quarter, compared to analysts’ expectations of $14.26 million. On average, equities research analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Citigroup assumed coverage on shares of Cytokinetics in a report on Friday, February 7th. They issued a “buy” rating and a $86.00 target price for the company. JMP Securities restated a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research note on Thursday, April 10th. HC Wainwright restated a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a research note on Monday, April 21st. Bank of America decreased their target price on shares of Cytokinetics from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Finally, Morgan Stanley set a $67.00 price objective on shares of Cytokinetics in a research report on Friday, March 7th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $79.13.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $48.06, for a total value of $96,120.00. Following the completion of the transaction, the executive vice president now owns 116,071 shares in the company, valued at $5,578,372.26. The trade was a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Wendall Wierenga sold 20,000 shares of the business’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $38.46, for a total transaction of $769,200.00. Following the completion of the transaction, the director now owns 24,848 shares of the company’s stock, valued at approximately $955,654.08. This trade represents a 44.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,360 shares of company stock valued at $3,643,645 over the last quarter. 3.40% of the stock is owned by company insiders.

About Cytokinetics

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.