State of New Jersey Common Pension Fund D Boosts Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

State of New Jersey Common Pension Fund D grew its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 13.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 80,157 shares of the biopharmaceutical company’s stock after buying an additional 9,220 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Cytokinetics were worth $6,692,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Cytokinetics by 4.6% during the third quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company’s stock valued at $316,498,000 after buying an additional 472,595 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Cytokinetics during the fourth quarter valued at approximately $46,308,000. Rhumbline Advisers boosted its position in shares of Cytokinetics by 1.1% during the third quarter. Rhumbline Advisers now owns 274,869 shares of the biopharmaceutical company’s stock valued at $8,098,000 after purchasing an additional 3,005 shares in the last quarter. Rafferty Asset Management LLC boosted its position in shares of Cytokinetics by 10.0% during the third quarter. Rafferty Asset Management LLC now owns 246,922 shares of the biopharmaceutical company’s stock valued at $7,274,000 after purchasing an additional 22,498 shares in the last quarter. Finally, Affinity Asset Advisors LLC boosted its position in shares of Cytokinetics by 84.1% during the third quarter. Affinity Asset Advisors LLC now owns 230,366 shares of the biopharmaceutical company’s stock valued at $6,787,000 after purchasing an additional 105,218 shares in the last quarter.

Insider Transactions at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 32,605 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $79.30, for a total value of $2,585,576.50. Following the sale, the executive vice president now directly owns 142,973 shares in the company, valued at $11,337,758.90. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director John T. Henderson sold 5,000 shares of Cytokinetics stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $76.48, for a total value of $382,400.00. Following the transaction, the director now directly owns 42,632 shares in the company, valued at approximately $3,260,495.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total value of $2,585,576.50. Following the completion of the transaction, the executive vice president now owns 142,973 shares in the company, valued at $11,337,758.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,876 shares of company stock worth $9,269,877. 3.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CYTK has been the topic of several research reports. Raymond James lifted their price target on Cytokinetics from $63.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, December 28th. Oppenheimer reiterated an “outperform” rating and set a $107.00 price objective on shares of Cytokinetics in a research report on Monday, March 4th. Truist Financial restated a “buy” rating and issued a $86.00 price target on shares of Cytokinetics in a research report on Monday, April 8th. HC Wainwright reaffirmed a “buy” rating and issued a $94.00 price objective on shares of Cytokinetics in a research note on Wednesday, February 28th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $90.00 price objective (up previously from $60.00) on shares of Cytokinetics in a research note on Friday, January 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.33.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK traded up $0.54 during trading on Friday, hitting $65.34. The company had a trading volume of 628,014 shares, compared to its average volume of 2,899,541. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of -11.99 and a beta of 0.68. Cytokinetics, Incorporated has a one year low of $25.98 and a one year high of $110.25. The company has a fifty day simple moving average of $69.91 and a two-hundred day simple moving average of $59.82.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The firm had revenue of $1.70 million during the quarter, compared to analyst estimates of $7.62 million. During the same period last year, the firm earned ($1.45) earnings per share. Cytokinetics’s revenue was down 10.5% on a year-over-year basis. On average, equities research analysts anticipate that Cytokinetics, Incorporated will post -4.5 earnings per share for the current year.

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.