Texas Permanent School Fund Corp Has $4.37 Million Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Texas Permanent School Fund Corp lessened its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,729 shares of the biopharmaceutical company’s stock after selling 5,087 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.08% of Cytokinetics worth $4,374,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. J.Safra Asset Management Corp raised its position in shares of Cytokinetics by 642.3% in the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 456 shares during the period. EntryPoint Capital LLC bought a new position in Cytokinetics in the 1st quarter valued at about $74,000. Bessemer Group Inc. lifted its position in Cytokinetics by 25,100.0% during the first quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock worth $88,000 after acquiring an additional 1,255 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Cytokinetics during the second quarter worth approximately $190,000. Finally, Kennedy Capital Management LLC acquired a new position in shares of Cytokinetics in the first quarter valued at approximately $224,000.

Analyst Upgrades and Downgrades

CYTK has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price objective 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 reiterated a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a research note on Tuesday, September 3rd. Raymond James decreased their target price on shares of Cytokinetics from $92.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. B. Riley dropped their price target on shares of Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th. Finally, Bank of America reduced their price target on Cytokinetics from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.67.

Cytokinetics Stock Up 3.4 %

Shares of NASDAQ CYTK opened at $55.88 on Friday. The company has a market cap of $6.57 billion, a price-to-earnings ratio of -10.35 and a beta of 0.77. 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, Incorporated has a 12 month low of $25.98 and a 12 month high of $110.25. The stock has a 50-day moving average price of $56.23 and a two-hundred day moving average price of $59.91.

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

Insider Transactions at Cytokinetics

In related news, CEO Robert I. Blum sold 22,500 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $52.60, for a total transaction of $1,183,500.00. Following the sale, the chief executive officer now owns 416,645 shares of the company’s stock, valued at approximately $21,915,527. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Cytokinetics news, Director B Lynne Parshall sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $52.55, for a total value of $262,750.00. Following the completion of the transaction, the director now directly owns 20,600 shares in the company, valued at approximately $1,082,530. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Robert I. Blum sold 22,500 shares of Cytokinetics stock in a transaction on Monday, June 17th. The stock was sold at an average price of $52.60, for a total transaction of $1,183,500.00. Following the transaction, the chief executive officer now owns 416,645 shares in the company, valued at approximately $21,915,527. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,337 shares of company stock worth $7,464,633. Corporate insiders own 3.40% of the company’s stock.

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.