Pacer Advisors Inc. Has $1.01 Million Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

Pacer Advisors Inc. lifted its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 21.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,720 shares of the biopharmaceutical company’s stock after acquiring an additional 3,271 shares during the quarter. Pacer Advisors Inc.’s holdings in Cytokinetics were worth $1,014,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vestal Point Capital LP bought a new position in Cytokinetics during the fourth quarter worth $4,174,000. State of Michigan Retirement System bought a new stake in shares of Cytokinetics during the 1st quarter worth about $1,690,000. Susquehanna Fundamental Investments LLC acquired a new position in Cytokinetics in the 1st quarter valued at about $4,703,000. Entropy Technologies LP raised its holdings in Cytokinetics by 110.6% in the 1st 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. Finally, Perceptive Advisors LLC acquired a new stake in Cytokinetics during the fourth quarter worth approximately $2,531,000.

Cytokinetics Stock Performance

Shares of NASDAQ:CYTK opened at $52.34 on Friday. Cytokinetics, Incorporated has a 1 year low of $25.98 and a 1 year high of $110.25. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of -9.69 and a beta of 0.77. The company has a debt-to-equity ratio of 5.93, a current ratio of 10.39 and a quick ratio of 10.39. The company’s 50 day simple moving average is $55.80 and its 200 day simple moving average is $58.82.

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

Insider Transactions at Cytokinetics

In related news, Director B Lynne Parshall sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $59.84, for a total transaction of $299,200.00. Following the completion of the transaction, the director now directly owns 20,600 shares in the company, valued at approximately $1,232,704. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Fady Ibraham Malik sold 7,384 shares of Cytokinetics stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.01, for a total transaction of $420,961.84. Following the sale, the executive vice president now directly owns 122,920 shares of the company’s stock, valued at $7,007,669.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director B Lynne Parshall sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $59.84, for a total value of $299,200.00. Following the completion of the transaction, the director now directly owns 20,600 shares of the company’s stock, valued at approximately $1,232,704. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,537 shares of company stock valued at $5,626,227. 3.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CYTK has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. The Goldman Sachs Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $85.00 to $60.00 in a report on Tuesday, August 13th. HC Wainwright restated a “buy” rating and issued a $90.00 price target on shares of Cytokinetics in a research note on Friday, September 20th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research report on Monday, September 9th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Cytokinetics currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.67.

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.