Police & Firemen s Retirement System of New Jersey Boosts Stake in Cytokinetics, Incorporated $CYTK

Police & Firemen s Retirement System of New Jersey lifted its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 5.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,231 shares of the biopharmaceutical company’s stock after buying an additional 1,320 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Cytokinetics were worth $867,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in Cytokinetics by 1.9% during the second quarter. Geode Capital Management LLC now owns 2,994,445 shares of the biopharmaceutical company’s stock worth $98,948,000 after acquiring an additional 56,961 shares during the period. Quinn Opportunity Partners LLC increased its position in shares of Cytokinetics by 50.0% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 194,939 shares of the biopharmaceutical company’s stock valued at $6,441,000 after purchasing an additional 65,000 shares during the last quarter. Profund Advisors LLC raised its stake in shares of Cytokinetics by 13.0% during the 2nd quarter. Profund Advisors LLC now owns 38,448 shares of the biopharmaceutical company’s stock worth $1,270,000 after purchasing an additional 4,413 shares during the period. Monaco Asset Management SAM bought a new stake in shares of Cytokinetics during the 2nd quarter worth $1,404,000. Finally, State of Michigan Retirement System boosted its holdings in shares of Cytokinetics by 1.8% in the 2nd quarter. State of Michigan Retirement System now owns 28,700 shares of the biopharmaceutical company’s stock worth $948,000 after buying an additional 500 shares during the last quarter.

Insider Buying and Selling at Cytokinetics

In other news, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $62.86, for a total transaction of $314,300.00. Following the completion of the sale, the chief executive officer directly owned 358,108 shares of the company’s stock, valued at approximately $22,510,668.88. The trade was a 1.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director B Lynne Parshall sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $64.73, for a total transaction of $323,650.00. Following the completion of the transaction, the director owned 22,933 shares of the company’s stock, valued at $1,484,453.09. This trade represents a 17.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 67,358 shares of company stock valued at $3,895,365 over the last quarter. Company insiders own 2.70% of the company’s stock.

Cytokinetics Stock Up 3.1%

Shares of NASDAQ CYTK opened at $65.44 on Friday. The stock’s 50-day simple moving average is $58.37 and its two-hundred day simple moving average is $43.91. Cytokinetics, Incorporated has a twelve month low of $29.31 and a twelve month high of $67.98. The firm has a market capitalization of $8.00 billion, a P/E ratio of -12.83 and a beta of 0.58.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.59) by $0.05. The business had revenue of $1.94 million for the quarter, compared to the consensus estimate of $6.05 million. The business’s revenue was up 318.1% compared to the same quarter last year. During the same quarter last year, the business posted ($1.36) EPS. As a group, research analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on CYTK shares. B. Riley restated a “buy” rating and set a $90.00 price objective (up previously from $80.00) on shares of Cytokinetics in a report on Monday, November 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cytokinetics in a research report on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a report on Monday, September 29th. Evercore ISI upped their price objective on Cytokinetics from $60.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. Finally, JMP Securities reissued a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a report on Tuesday, September 2nd. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Cytokinetics presently has an average rating of “Moderate Buy” and a consensus price target of $77.86.

Cytokinetics 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.