Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Bought by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp grew its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,816 shares of the biopharmaceutical company’s stock after acquiring an additional 1,111 shares during the period. Texas Permanent School Fund Corp owned about 0.08% of Cytokinetics worth $6,017,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. acquired a new position in shares of Cytokinetics during the 4th quarter worth approximately $46,308,000. Vanguard Group Inc. raised its holdings in shares of Cytokinetics by 4.6% in the third quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company’s stock worth $316,498,000 after acquiring an additional 472,595 shares during the last quarter. HealthInvest Partners AB purchased a new stake in shares of Cytokinetics in the fourth quarter valued at $980,000. Legato Capital Management LLC acquired a new stake in shares of Cytokinetics during the fourth quarter valued at $1,305,000. Finally, Vestal Point Capital LP purchased a new stake in Cytokinetics during the 4th quarter worth about $4,174,000.

Analysts Set New Price Targets

Several brokerages have weighed in on CYTK. Oppenheimer cut their price target on Cytokinetics from $107.00 to $106.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. Needham & Company LLC lowered their price target on Cytokinetics from $108.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Cytokinetics in a research report on Monday, June 17th. JMP Securities lowered their target price on shares of Cytokinetics from $106.00 to $78.00 and set a “market outperform” rating for the company in a report on Tuesday, May 28th. Finally, JPMorgan Chase & Co. cut their price target on shares of Cytokinetics from $77.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.06.

Insider Activity at Cytokinetics

In other Cytokinetics news, Director Robert Arthur Harrington sold 1,580 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $48.64, for a total value of $76,851.20. Following the completion of the transaction, the director now owns 15,541 shares in the company, valued at approximately $755,914.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Robert Wong sold 13,011 shares of Cytokinetics stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $48.88, for a total transaction of $635,977.68. Following the sale, the chief accounting officer now directly owns 16,653 shares in the company, valued at $813,998.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert Arthur Harrington sold 1,580 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $48.64, for a total transaction of $76,851.20. Following the completion of the transaction, the director now owns 15,541 shares of the company’s stock, valued at approximately $755,914.24. The disclosure for this sale can be found here. Insiders have sold a total of 143,341 shares of company stock worth $7,800,408 in the last ninety days. 3.40% of the stock is owned by insiders.

Cytokinetics Stock Performance

CYTK stock traded up $0.71 during midday trading on Friday, reaching $57.01. The company had a trading volume of 209,864 shares, compared to its average volume of 2,619,332. The stock has a 50 day moving average price of $55.09 and a 200 day moving average price of $67.88. Cytokinetics, Incorporated has a fifty-two week low of $25.98 and a fifty-two week high of $110.25.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.17). The company had revenue of $0.84 million during the quarter, compared to analysts’ expectations of $0.91 million. Cytokinetics’s revenue was down 81.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.38) EPS. As a group, analysts anticipate that Cytokinetics, Incorporated will post -4.5 EPS 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.