Amalgamated Bank Has $3 Million Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Amalgamated Bank raised its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 8.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 55,397 shares of the biopharmaceutical company’s stock after purchasing an additional 4,099 shares during the period. Amalgamated Bank’s holdings in Cytokinetics were worth $3,001,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. E Fund Management Co. Ltd. raised its position in Cytokinetics by 141.6% in the 2nd quarter. E Fund Management Co. Ltd. now owns 15,927 shares of the biopharmaceutical company’s stock valued at $863,000 after buying an additional 9,336 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Cytokinetics by 12.3% in the second quarter. Mutual of America Capital Management LLC now owns 65,645 shares of the biopharmaceutical company’s stock valued at $3,557,000 after purchasing an additional 7,208 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of Cytokinetics in the second quarter worth $858,000. Renaissance Technologies LLC boosted its holdings in Cytokinetics by 28.7% during the second quarter. Renaissance Technologies LLC now owns 470,967 shares of the biopharmaceutical company’s stock worth $25,517,000 after purchasing an additional 105,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Cytokinetics by 27.9% in the second quarter. Dimensional Fund Advisors LP now owns 148,561 shares of the biopharmaceutical company’s stock valued at $8,049,000 after purchasing an additional 32,372 shares in the last quarter.

Insiders Place Their Bets

In other Cytokinetics news, Director B Lynne Parshall sold 5,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $54.22, for a total transaction of $271,100.00. Following the transaction, the director now owns 20,600 shares in the company, valued at approximately $1,116,932. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director B Lynne Parshall sold 5,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $54.22, for a total transaction of $271,100.00. Following the completion of the sale, the director now directly owns 20,600 shares in the company, valued at approximately $1,116,932. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert I. Blum sold 11,500 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $54.05, for a total value of $621,575.00. Following the sale, the chief executive officer now directly owns 405,145 shares in the company, valued at $21,898,087.25. The disclosure for this sale can be found here. Insiders sold 100,537 shares of company stock worth $5,626,227 in the last quarter. 3.40% of the stock is currently owned by corporate insiders.

Cytokinetics Stock Performance

NASDAQ:CYTK opened at $52.09 on Tuesday. The stock has a 50 day simple moving average of $56.11 and a 200 day simple moving average of $59.09. The stock has a market cap of $5.46 billion, a P/E ratio of -9.65 and a beta of 0.77. Cytokinetics, Incorporated has a 1-year low of $25.98 and a 1-year high of $110.25. The company has a current ratio of 10.39, a quick ratio of 10.39 and a debt-to-equity ratio of 5.93.

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

Wall Street Analysts Forecast Growth

CYTK has been the subject of a number of recent research reports. JMP Securities restated a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research note on Wednesday, September 4th. B. Riley decreased their price target on Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, June 4th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research note on Monday, September 9th. HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Cytokinetics in a research note on Friday. Finally, Truist Financial cut their price target on shares of Cytokinetics from $86.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th. One 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.67.

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.