Teachers Retirement System of The State of Kentucky grew its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 19.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,406 shares of the biopharmaceutical company’s stock after buying an additional 7,554 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Cytokinetics were worth $1,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Cytokinetics by 13.8% in the 3rd quarter. BlackRock Inc. now owns 13,262,947 shares of the biopharmaceutical company’s stock valued at $474,017,000 after acquiring an additional 1,608,545 shares in the last quarter. FMR LLC increased its position in shares of Cytokinetics by 121.0% during the second quarter. FMR LLC now owns 8,488,682 shares of the biopharmaceutical company’s stock valued at $167,991,000 after purchasing an additional 4,646,979 shares during the period. State Street Corp increased its position in shares of Cytokinetics by 2.6% during the second quarter. State Street Corp now owns 4,250,786 shares of the biopharmaceutical company’s stock valued at $84,123,000 after purchasing an additional 108,816 shares during the period. Logos Global Management LP increased its position in shares of Cytokinetics by 100.0% during the second quarter. Logos Global Management LP now owns 1,400,000 shares of the biopharmaceutical company’s stock valued at $27,706,000 after purchasing an additional 700,000 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Cytokinetics by 4.5% during the second quarter. Geode Capital Management LLC now owns 1,210,422 shares of the biopharmaceutical company’s stock valued at $23,954,000 after purchasing an additional 52,294 shares during the period.
CYTK has been the topic of several recent analyst reports. Zacks Investment Research raised Cytokinetics from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Tuesday. Mizuho boosted their price target on Cytokinetics from $45.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, December 1st. JMP Securities reissued a “buy” rating on shares of Cytokinetics in a research note on Thursday, November 4th. HC Wainwright boosted their price objective on Cytokinetics from $62.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, December 21st. Finally, Oppenheimer assumed coverage on Cytokinetics in a research report on Tuesday, December 21st. They set an “outperform” rating and a $55.00 target price for the company. Fourteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Cytokinetics presently has a consensus rating of “Buy” and a consensus price target of $52.43.
Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Wednesday, November 3rd. The biopharmaceutical company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.20). Cytokinetics had a negative net margin of 1,061.13% and a negative return on equity of 204.75%. The company had revenue of $5.44 million for the quarter, compared to analyst estimates of $5.46 million. During the same period last year, the company posted ($0.05) earnings per share. As a group, sell-side analysts predict that Cytokinetics, Incorporated will post -3.23 earnings per share for the current year.
In other news, insider David Cragg sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 1st. The stock was sold at an average price of $34.89, for a total value of $872,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director B Lynne Parshall sold 10,332 shares of the firm’s stock in a transaction that occurred on Tuesday, October 19th. The shares were sold at an average price of $35.73, for a total value of $369,162.36. The disclosure for this sale can be found here. Insiders have sold 253,333 shares of company stock valued at $9,843,322 over the last three months. Insiders own 5.70% of the company’s stock.
Cytokinetics, Inc operates as a biopharmaceutical company. The firm focuses on the discovery and development of muscle activators as potential treatment for debilitating diseases. It conducts a Phase 2 clinical trials program for tirasemtiv, including a Phase 2b clinical trial in patients with ALS, known as BENEFIT-ALS (Blinded Evaluation of Neuromuscular Effects and Functional Improvement with Tirasemtiv in ALS).
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