Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System grew its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 14.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,400 shares of the biopharmaceutical company’s stock after purchasing an additional 4,200 shares during the period. Louisiana State Employees Retirement System’s holdings in Cytokinetics were worth $1,755,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Vestal Point Capital LP acquired a new position in Cytokinetics during the fourth quarter valued at $4,174,000. Victory Capital Management Inc. boosted its stake in shares of Cytokinetics by 1,040.4% in the fourth quarter. Victory Capital Management Inc. now owns 191,654 shares of the biopharmaceutical company’s stock worth $16,001,000 after buying an additional 174,848 shares during the last quarter. State of Michigan Retirement System acquired a new stake in Cytokinetics during the first quarter worth about $1,690,000. Susquehanna Fundamental Investments LLC purchased a new position in Cytokinetics during the first quarter valued at approximately $4,703,000. Finally, Entropy Technologies LP lifted its holdings in Cytokinetics by 110.6% in the first quarter. Entropy Technologies LP now owns 19,433 shares of the biopharmaceutical company’s stock valued at $1,362,000 after acquiring an additional 10,205 shares during the period.

Cytokinetics Price Performance

CYTK opened at $57.32 on Friday. The firm has a market capitalization of $6.01 billion, a price-to-earnings ratio of -10.61 and a beta of 0.75. The company’s 50 day simple moving average is $55.61 and its two-hundred day simple moving average is $62.21. Cytokinetics, Incorporated has a 1-year low of $25.98 and a 1-year high of $110.25.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.25). The company had revenue of $0.25 million during the quarter, compared to analysts’ expectations of $7.61 million. The business’s quarterly revenue was down 71.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.34) EPS. On average, equities analysts anticipate that Cytokinetics, Incorporated will post -4.5 earnings per share for the current fiscal year.

Insider Activity

In other Cytokinetics news, Director Robert Arthur Harrington sold 1,580 shares of Cytokinetics 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 transaction, the director now directly owns 15,541 shares of the company’s stock, valued at $755,914.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cytokinetics news, Director Robert Arthur Harrington sold 1,580 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $48.64, for a total transaction of $76,851.20. Following the completion of the sale, the director now owns 15,541 shares of the company’s stock, valued at $755,914.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Muna Bhanji sold 2,000 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $52.07, for a total value of $104,140.00. Following the completion of the transaction, the director now directly owns 17,631 shares in the company, valued at approximately $918,046.17. The disclosure for this sale can be found here. In the last quarter, insiders have sold 169,832 shares of company stock valued at $9,087,691. 3.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CYTK shares. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a report on Friday, August 9th. JPMorgan Chase & Co. cut their price objective on shares of Cytokinetics from $77.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Raymond James lowered their target price on shares of Cytokinetics from $92.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, May 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price target on shares of Cytokinetics in a report on Monday, August 12th. Finally, JMP Securities dropped their price objective on Cytokinetics from $106.00 to $78.00 and set a “market outperform” rating on the stock in a report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $80.27.

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.