Dimensional Fund Advisors LP lowered its stake in shares of Cytokinetics, Inc. (NASDAQ:CYTK) by 35.7% during the third quarter, Holdings Channel reports. The fund owned 145,506 shares of the biopharmaceutical company’s stock after selling 80,779 shares during the period. Dimensional Fund Advisors LP’s holdings in Cytokinetics were worth $2,110,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Birchview Capital LP bought a new stake in Cytokinetics during the 3rd quarter worth about $145,000. Dynamic Technology Lab Private Ltd bought a new stake in Cytokinetics during the 2nd quarter worth about $177,000. TD Asset Management Inc. bought a new stake in Cytokinetics during the 3rd quarter worth about $265,000. Teachers Retirement System of The State of Kentucky bought a new stake in Cytokinetics during the 2nd quarter worth about $224,000. Finally, Municipal Employees Retirement System of Michigan grew its holdings in Cytokinetics by 74.7% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 18,990 shares of the biopharmaceutical company’s stock worth $275,000 after acquiring an additional 8,120 shares during the last quarter. 74.57% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on CYTK. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $10.00 target price on shares of Cytokinetics in a research note on Wednesday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 target price on shares of Cytokinetics in a research note on Sunday, October 29th. JMP Securities reaffirmed an “outperform” rating and issued a $13.00 target price (down previously from $17.00) on shares of Cytokinetics in a research note on Tuesday, November 21st. They noted that the move was a valuation call. TheStreet lowered shares of Cytokinetics from a “c” rating to a “d” rating in a research note on Friday, October 27th. Finally, HC Wainwright reduced their target price on shares of Cytokinetics from $26.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. Cytokinetics currently has an average rating of “Buy” and an average target price of $17.91.
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Cytokinetics, Incorporated is a late-stage biopharmaceutical company. The Company is focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions.
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