Cytokinetics, Incorporated $CYTK Shares Bought by Rhumbline Advisers

Rhumbline Advisers increased its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 4.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 389,940 shares of the biopharmaceutical company’s stock after acquiring an additional 16,085 shares during the period. Rhumbline Advisers’ holdings in Cytokinetics were worth $12,884,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Teacher Retirement System of Texas lifted its position in Cytokinetics by 1.1% in the second quarter. Teacher Retirement System of Texas now owns 30,514 shares of the biopharmaceutical company’s stock worth $1,008,000 after purchasing an additional 341 shares during the period. KLP Kapitalforvaltning AS raised its stake in shares of Cytokinetics by 1.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 24,000 shares of the biopharmaceutical company’s stock worth $793,000 after buying an additional 400 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Cytokinetics by 0.4% in the second quarter. New York State Teachers Retirement System now owns 114,500 shares of the biopharmaceutical company’s stock valued at $3,783,000 after buying an additional 400 shares during the period. UMB Bank n.a. lifted its holdings in shares of Cytokinetics by 37.8% in the second quarter. UMB Bank n.a. now owns 1,593 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 437 shares during the period. Finally, State of Michigan Retirement System boosted its stake in Cytokinetics by 1.8% during the second quarter. State of Michigan Retirement System now owns 28,700 shares of the biopharmaceutical company’s stock valued at $948,000 after buying an additional 500 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Cytokinetics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Bank of America boosted their target price on shares of Cytokinetics from $52.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, October 2nd. HC Wainwright restated a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a report on Monday, September 29th. Royal Bank Of Canada lifted their price target on shares of Cytokinetics from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytokinetics in a research report on Wednesday, October 8th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cytokinetics has an average rating of “Moderate Buy” and a consensus price target of $77.86.

Cytokinetics Price Performance

Cytokinetics stock opened at $68.19 on Monday. Cytokinetics, Incorporated has a fifty-two week low of $29.31 and a fifty-two week high of $69.33. The firm’s 50 day simple moving average is $60.27 and its 200-day simple moving average is $45.27. The company has a market cap of $8.34 billion, a P/E ratio of -13.37 and a beta of 0.58.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) EPS for the quarter, topping analysts’ consensus estimates of ($1.59) by $0.05. The firm had revenue of $1.94 million during the quarter, compared to analyst estimates of $6.05 million. During the same period in the prior year, the business posted ($1.36) EPS. The company’s revenue for the quarter was up 318.1% on a year-over-year basis. On average, analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Edward M. Md Kaye sold 5,175 shares of Cytokinetics stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $65.08, for a total transaction of $336,789.00. Following the completion of the sale, the director owned 9,977 shares of the company’s stock, valued at approximately $649,303.16. This trade represents a 34.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $62.86, for a total value of $314,300.00. Following the completion of the transaction, the chief executive officer directly owned 358,108 shares in the company, valued at approximately $22,510,668.88. The trade was a 1.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 67,358 shares of company stock valued at $3,895,365. 2.70% of the stock is currently 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.