Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System boosted its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,637 shares of the biopharmaceutical company’s stock after purchasing an additional 278 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Cytokinetics were worth $2,975,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its position in shares of Cytokinetics by 96.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,463 shares of the biopharmaceutical company’s stock valued at $73,000 after purchasing an additional 1,209 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Cytokinetics in the 4th quarter valued at $80,000. Sage Rhino Capital LLC acquired a new position in Cytokinetics during the 4th quarter worth about $204,000. Caprock Group LLC purchased a new position in Cytokinetics during the 4th quarter valued at about $216,000. Finally, PNC Financial Services Group Inc. grew its position in Cytokinetics by 4.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,373 shares of the biopharmaceutical company’s stock valued at $217,000 after acquiring an additional 340 shares in the last quarter.

Insider Activity at Cytokinetics

In other Cytokinetics news, Director John T. Henderson sold 10,562 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $64.54, for a total transaction of $681,671.48. Following the transaction, the director now owns 32,070 shares of the company’s stock, valued at $2,069,797.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Fady Ibraham Malik sold 32,605 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $74.31, for a total value of $2,422,877.55. Following the transaction, the executive vice president now owns 138,567 shares in the company, valued at $10,296,913.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John T. Henderson sold 10,562 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $64.54, for a total transaction of $681,671.48. Following the sale, the director now owns 32,070 shares of the company’s stock, valued at $2,069,797.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,771 shares of company stock worth $5,689,675. 3.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on CYTK shares. Mizuho lowered their price objective on shares of Cytokinetics from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, March 6th. Needham & Company LLC reiterated a “buy” rating and issued a $108.00 price objective on shares of Cytokinetics in a research note on Tuesday, April 9th. UBS Group lowered shares of Cytokinetics from a “buy” rating to a “neutral” rating and raised their price objective for the company from $61.00 to $92.00 in a report on Wednesday, January 24th. HC Wainwright restated a “buy” rating and issued a $94.00 price target on shares of Cytokinetics in a research note on Wednesday, February 28th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $107.00 price objective on shares of Cytokinetics in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $79.33.

Cytokinetics Price Performance

Shares of Cytokinetics stock traded up $0.23 during mid-day trading on Tuesday, hitting $65.28. 827,853 shares of the stock were exchanged, compared to its average volume of 2,755,279. The company has a 50-day simple moving average of $68.29 and a 200 day simple moving average of $61.41. Cytokinetics, Incorporated has a twelve month low of $25.98 and a twelve month high of $110.25.

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

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.