Cytokinetics, Incorporated (NASDAQ:CYTK) Stock Position Lifted by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 13.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 80,157 shares of the biopharmaceutical company’s stock after purchasing an additional 9,220 shares during the period. State of New Jersey Common Pension Fund D owned about 0.08% of Cytokinetics worth $6,692,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new position in Cytokinetics during the 4th quarter valued at $80,000. China Universal Asset Management Co. Ltd. increased its holdings in Cytokinetics by 96.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,463 shares of the biopharmaceutical company’s stock valued at $73,000 after buying an additional 1,209 shares during the period. Caprock Group LLC bought a new stake in Cytokinetics in the 4th quarter valued at $216,000. Sequoia Financial Advisors LLC bought a new stake in Cytokinetics in the 4th quarter valued at $263,000. Finally, HC Advisors LLC bought a new stake in shares of Cytokinetics in the 4th quarter worth about $271,000.

Insider Buying and Selling

In related news, CEO Robert I. Blum sold 12,500 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $79.57, for a total value of $994,625.00. Following the transaction, the chief executive officer now owns 441,797 shares in the company, valued at $35,153,787.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cytokinetics news, Director John T. Henderson sold 10,562 shares of Cytokinetics stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $64.54, for a total value of $681,671.48. Following the transaction, the director now owns 32,070 shares in the company, valued at $2,069,797.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert I. Blum sold 12,500 shares of Cytokinetics stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $79.57, for a total value of $994,625.00. Following the completion of the transaction, the chief executive officer now owns 441,797 shares in the company, valued at approximately $35,153,787.29. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,876 shares of company stock worth $9,269,877. Company insiders own 3.40% of the company’s stock.

Cytokinetics Stock Up 0.8 %

Shares of CYTK traded up $0.54 during midday trading on Friday, reaching $65.34. 628,014 shares of the stock were exchanged, compared to its average volume of 2,899,541. Cytokinetics, Incorporated has a twelve month low of $25.98 and a twelve month high of $110.25. The company has a market cap of $6.83 billion, a P/E ratio of -11.99 and a beta of 0.68. The stock’s 50 day simple moving average is $69.91 and its 200 day simple moving average is $59.82.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.35). The firm had revenue of $1.70 million during the quarter, compared to the consensus estimate of $7.62 million. During the same period in the prior year, the company earned ($1.45) earnings per share. The business’s quarterly revenue was down 10.5% on a year-over-year basis. As a group, analysts predict that Cytokinetics, Incorporated will post -4.5 earnings per share for the current year.

Analysts Set New Price Targets

CYTK has been the topic of several research reports. Needham & Company LLC reiterated a “buy” rating and set a $108.00 price target on shares of Cytokinetics in a research report on Tuesday, April 9th. Truist Financial restated a “buy” rating and set a $86.00 target price on shares of Cytokinetics in a research report on Monday, April 8th. Oppenheimer restated an “outperform” rating and set a $107.00 target price on shares of Cytokinetics in a research report on Monday, March 4th. UBS Group downgraded shares of Cytokinetics from a “buy” rating to a “neutral” rating and upped their target price for the company from $61.00 to $92.00 in a research report on Wednesday, January 24th. Finally, HC Wainwright reiterated a “buy” rating and issued a $94.00 price target on shares of Cytokinetics in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.33.

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.