Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 19.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,106 shares of the biopharmaceutical company’s stock after acquiring an additional 5,437 shares during the quarter. Teacher Retirement System of Texas’ holdings in Cytokinetics were worth $1,557,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Cytokinetics by 42.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock valued at $69,769,000 after acquiring an additional 395,709 shares in the last quarter. Checkpoint Capital L.P. lifted its holdings in shares of Cytokinetics by 145.7% in the third quarter. Checkpoint Capital L.P. now owns 466,813 shares of the biopharmaceutical company’s stock valued at $24,648,000 after purchasing an additional 276,813 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Cytokinetics in the third quarter worth $11,336,000. Janus Henderson Group PLC grew its holdings in shares of Cytokinetics by 17.2% during the third quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock valued at $60,399,000 after buying an additional 167,501 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Cytokinetics by 4.0% during the third quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock valued at $150,433,000 after buying an additional 109,938 shares during the period.

Cytokinetics Price Performance

Shares of Cytokinetics stock opened at $43.19 on Friday. 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 fifty day simple moving average of $45.75 and a 200-day simple moving average of $49.58. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of -8.03 and a beta of 0.95. Cytokinetics, Incorporated has a 1-year low of $40.53 and a 1-year high of $75.71.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.03. The firm had revenue of $16.93 million for the quarter, compared to analyst estimates of $14.26 million. On average, sell-side analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research note on Friday, February 28th. JMP Securities reiterated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research note on Friday, February 7th. Evercore ISI raised shares of Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. Morgan Stanley set a $67.00 price target on shares of Cytokinetics in a report on Friday, March 7th. Finally, Royal Bank of Canada lifted their price objective on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Two equities research 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. Based on data from MarketBeat.com, Cytokinetics has a consensus rating of “Moderate Buy” and an average price target of $82.00.

Insider Buying and Selling

In other news, EVP Andrew Callos sold 2,775 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $44.38, for a total transaction of $123,154.50. Following the transaction, the executive vice president now owns 34,888 shares in the company, valued at approximately $1,548,329.44. The trade was a 7.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $45.92, for a total transaction of $91,840.00. Following the completion of the sale, the executive vice president now owns 116,071 shares of the company’s stock, valued at approximately $5,329,980.32. The trade was a 1.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,834 shares of company stock valued at $1,949,275. Insiders own 3.40% of the company’s stock.

Cytokinetics 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.