New York State Teachers Retirement System Purchases 1,600 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

New York State Teachers Retirement System raised its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 1.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 113,800 shares of the biopharmaceutical company’s stock after acquiring an additional 1,600 shares during the period. New York State Teachers Retirement System’s holdings in Cytokinetics were worth $6,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Darwin Global Management Ltd. bought a new position in shares of Cytokinetics in the second quarter worth $246,074,000. Integral Health Asset Management LLC boosted its stake in Cytokinetics by 122.2% in the 2nd quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $54,180,000 after purchasing an additional 550,000 shares during the period. Hood River Capital Management LLC grew its holdings in Cytokinetics by 5.9% during the 2nd quarter. Hood River Capital Management LLC now owns 737,637 shares of the biopharmaceutical company’s stock valued at $39,965,000 after buying an additional 40,990 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Cytokinetics during the first quarter valued at about $51,277,000. Finally, Great Point Partners LLC lifted its holdings in shares of Cytokinetics by 134.5% in the second quarter. Great Point Partners LLC now owns 474,202 shares of the biopharmaceutical company’s stock worth $25,692,000 after buying an additional 272,000 shares in the last quarter.

Cytokinetics Price Performance

Shares of Cytokinetics stock opened at $52.52 on Wednesday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 10.39 and a current ratio of 10.39. Cytokinetics, Incorporated has a 52-week low of $30.68 and a 52-week high of $110.25. The company has a fifty day moving average of $54.18 and a 200-day moving average of $55.80. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of -9.78 and a beta of 0.78.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The business had revenue of $0.25 million for the quarter, compared to analyst estimates of $7.61 million. During the same period last year, the firm posted ($1.34) EPS. The firm’s revenue for the quarter was down 71.3% on a year-over-year basis. Equities research analysts expect that Cytokinetics, Incorporated will post -5.15 EPS for the current year.

Analysts Set New Price Targets

CYTK has been the subject of several analyst reports. The Goldman Sachs Group downgraded shares of Cytokinetics from a “buy” rating to a “neutral” rating and cut their price target for the company from $85.00 to $60.00 in a report on Tuesday, August 13th. JPMorgan Chase & Co. boosted their target price on Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a report on Thursday, October 17th. JMP Securities reissued a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a report on Wednesday, September 4th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cytokinetics presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Insider Activity at Cytokinetics

In related news, CEO Robert I. Blum sold 11,500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $55.17, for a total transaction of $634,455.00. Following the transaction, the chief executive officer now directly owns 399,412 shares in the company, valued at $22,035,560.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Robert I. Blum sold 11,500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $55.17, for a total value of $634,455.00. Following the transaction, the chief executive officer now owns 399,412 shares in the company, valued at approximately $22,035,560.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $57.03, for a total transaction of $285,150.00. Following the completion of the transaction, the chief executive officer now directly owns 397,456 shares in the company, valued at approximately $22,666,915.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,236 shares of company stock worth $3,800,944 in the last ninety days. 3.40% of the stock is owned by company insiders.

Cytokinetics Company 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.