New York State Common Retirement Fund Purchases 6,015 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

New York State Common Retirement Fund increased its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 13.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,501 shares of the biopharmaceutical company’s stock after acquiring an additional 6,015 shares during the period. New York State Common Retirement Fund owned approximately 0.05% of Cytokinetics worth $4,300,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. increased its holdings in Cytokinetics by 96.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,463 shares of the biopharmaceutical company’s stock worth $73,000 after acquiring an additional 1,209 shares during the period. Caprock Group LLC bought a new stake in Cytokinetics during the 4th quarter worth approximately $216,000. PNC Financial Services Group Inc. increased its holdings in Cytokinetics by 4.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,373 shares of the biopharmaceutical company’s stock worth $217,000 after acquiring an additional 340 shares during the period. HighTower Advisors LLC increased its holdings in Cytokinetics by 5.1% during the 3rd quarter. HighTower Advisors LLC now owns 8,868 shares of the biopharmaceutical company’s stock worth $261,000 after acquiring an additional 434 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new stake in Cytokinetics during the 4th quarter worth approximately $263,000.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CYTK. Mizuho cut their price target 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. UBS Group cut shares of Cytokinetics from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $61.00 to $92.00 in a research note on Wednesday, January 24th. HC Wainwright reissued a “buy” rating and issued a $94.00 price target on shares of Cytokinetics in a research note on Wednesday, February 28th. Needham & Company LLC reissued a “buy” rating and issued a $108.00 price target on shares of Cytokinetics in a research note on Tuesday, April 9th. Finally, Truist Financial reissued a “buy” rating and issued a $86.00 price target on shares of Cytokinetics in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $79.33.

Cytokinetics Stock Performance

Cytokinetics stock opened at $65.27 on Monday. Cytokinetics, Incorporated has a fifty-two week low of $25.98 and a fifty-two week high of $110.25. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of -11.98 and a beta of 0.72. The stock’s 50 day simple moving average is $68.57 and its two-hundred day simple moving average is $60.99.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The company had revenue of $1.70 million during the quarter, compared to the consensus estimate of $7.62 million. The firm’s revenue for the quarter 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. On average, analysts predict that Cytokinetics, Incorporated will post -4.5 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Fady Ibraham Malik sold 32,605 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total transaction of $2,585,576.50. Following the sale, the executive vice president now owns 142,973 shares of the company’s stock, valued at $11,337,758.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total transaction of $2,585,576.50. Following the completion of the transaction, the executive vice president now directly owns 142,973 shares in the company, valued at $11,337,758.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John T. Henderson sold 10,562 shares of Cytokinetics 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 disclosure for this sale can be found here. Insiders sold a total of 113,376 shares of company stock worth $8,275,252 in the last three months. 3.40% of the stock is owned by corporate insiders.

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.