Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 9.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,851 shares of the biopharmaceutical company’s stock after buying an additional 3,654 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Cytokinetics were worth $2,263,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CYTK. Westfield Capital Management Co. LP purchased a new stake in Cytokinetics during the first quarter valued at about $51,277,000. Van ECK Associates Corp grew its holdings in shares of Cytokinetics by 21.3% during the 3rd quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company’s stock worth $3,802,000 after purchasing an additional 12,565 shares during the period. Ghisallo Capital Management LLC acquired a new stake in Cytokinetics during the 2nd quarter worth approximately $10,619,000. Castleark Management LLC acquired a new position in Cytokinetics during the first quarter valued at approximately $1,471,000. Finally, Darwin Global Management Ltd. purchased a new stake in Cytokinetics during the second quarter worth approximately $246,074,000.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group lowered shares of Cytokinetics from a “buy” rating to a “neutral” rating and reduced their target price for the company from $85.00 to $60.00 in a report on Tuesday, August 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research report on Thursday, October 17th. Royal Bank of Canada initiated coverage on Cytokinetics in a research note on Friday, November 8th. They issued an “outperform” rating and a $80.00 target price for the company. JPMorgan Chase & Co. boosted their price target on Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Cytokinetics currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.67.

Insider Activity at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 7,384 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $57.01, for a total value of $420,961.84. Following the sale, the executive vice president now directly owns 122,920 shares of the company’s stock, valued at $7,007,669.20. This trade represents a 5.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Wendall Wierenga sold 4,452 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $52.25, for a total transaction of $232,617.00. Following the transaction, the director now directly owns 24,559 shares of the company’s stock, valued at approximately $1,283,207.75. This trade represents a 15.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,078 shares of company stock valued at $3,261,369 in the last quarter. Insiders own 3.40% of the company’s stock.

Cytokinetics Price Performance

Shares of CYTK opened at $54.70 on Friday. Cytokinetics, Incorporated has a 52 week low of $30.68 and a 52 week high of $110.25. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of -10.17 and a beta of 0.78. The stock has a 50 day moving average of $54.16 and a 200-day moving average of $55.38.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The business had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $1.21 million. Cytokinetics’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.35) earnings per share. As a group, analysts forecast that Cytokinetics, Incorporated will post -5.31 EPS for the current 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.