State of Alaska Department of Revenue Has $706,000 Stock Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

State of Alaska Department of Revenue boosted its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 7.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,390 shares of the biopharmaceutical company’s stock after purchasing an additional 925 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cytokinetics were worth $706,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Darwin Global Management Ltd. acquired a new position in shares of Cytokinetics during the second quarter valued at about $246,074,000. Integral Health Asset Management LLC grew its holdings in shares of Cytokinetics by 122.2% during the second quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $54,180,000 after buying an additional 550,000 shares during the last quarter. Hood River Capital Management LLC grew its holdings in shares of Cytokinetics by 5.9% during the second quarter. Hood River Capital Management LLC now owns 737,637 shares of the biopharmaceutical company’s stock valued at $39,965,000 after buying an additional 40,990 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Cytokinetics during the first quarter valued at about $51,277,000. Finally, Great Point Partners LLC grew its holdings in shares of Cytokinetics by 134.5% during the second quarter. Great Point Partners LLC now owns 474,202 shares of the biopharmaceutical company’s stock valued at $25,692,000 after buying an additional 272,000 shares during the last quarter.

Cytokinetics Trading Up 5.7 %

Shares of CYTK opened at $55.50 on Thursday. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of -10.34 and a beta of 0.78. The company has a debt-to-equity ratio of 5.93, a quick ratio of 10.39 and a current ratio of 10.39. Cytokinetics, Incorporated has a fifty-two week low of $30.68 and a fifty-two week high of $110.25. The firm has a 50 day moving average price of $54.11 and a 200-day moving average price of $55.70.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $7.61 million. During the same period in the prior year, the company earned ($1.34) EPS. The firm’s revenue was down 71.3% compared to the same quarter last year. As a group, equities research analysts forecast that Cytokinetics, Incorporated will post -5.15 earnings per share for the current year.

Insider Activity at Cytokinetics

In related news, Director Wendall Wierenga sold 4,452 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $52.25, for a total transaction of $232,617.00. Following the completion of the sale, the director now directly owns 24,559 shares in the company, valued at $1,283,207.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Wendall Wierenga sold 4,452 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $52.25, for a total transaction of $232,617.00. Following the completion of the sale, the director now directly owns 24,559 shares in the company, valued at $1,283,207.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $57.03, for a total transaction of $285,150.00. Following the sale, the chief executive officer now owns 397,456 shares of the company’s stock, valued at $22,666,915.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,236 shares of company stock worth $3,800,944 in the last three months. 3.40% of the stock is owned by insiders.

Analysts Set New Price Targets

CYTK has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research report on Thursday, October 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. JPMorgan Chase & Co. raised their price target on shares of 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 lowered shares of Cytokinetics from a “buy” rating to a “neutral” rating and dropped their price target for the company from $85.00 to $60.00 in a research report on Tuesday, August 13th. Finally, HC Wainwright reissued a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

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.