Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 26.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,197 shares of the biopharmaceutical company’s stock after selling 14,018 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Cytokinetics were worth $2,124,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. J.Safra Asset Management Corp grew its stake in Cytokinetics by 642.3% during the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 456 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in Cytokinetics in the first quarter worth about $74,000. Bessemer Group Inc. grew its stake in shares of 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 acquired a new position in shares of Cytokinetics during the second quarter valued at about $190,000. Finally, Kennedy Capital Management LLC purchased a new position in shares of Cytokinetics in the 1st quarter valued at approximately $224,000.

Wall Street Analyst Weigh In

Several research firms have weighed in on CYTK. Bank of America dropped their target price on shares of Cytokinetics from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, May 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a report on Monday, September 9th. JPMorgan Chase & Co. boosted their price target on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research note on Wednesday, September 4th. Finally, Barclays decreased their target price on shares of Cytokinetics from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $80.67.

Cytokinetics Price Performance

Shares of Cytokinetics stock opened at $55.60 on Friday. 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 business has a 50 day simple moving average of $56.28 and a two-hundred day simple moving average of $59.41. The stock has a market capitalization of $5.83 billion, a P/E ratio of -10.30 and a beta of 0.77. Cytokinetics, Incorporated has a 12 month low of $25.98 and a 12 month high of $110.25.

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 analysts’ consensus estimates of ($1.06) by ($0.25). The business had revenue of $0.25 million during the quarter, compared to the consensus estimate of $7.61 million. During the same quarter in the prior year, the firm earned ($1.34) EPS. The business’s quarterly revenue was down 71.3% compared to the same quarter last year. As a group, analysts predict that Cytokinetics, Incorporated will post -5.15 EPS for the current fiscal year.

Insider Buying and Selling

In other Cytokinetics news, EVP Fady Ibraham Malik sold 7,384 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $57.01, for a total value of $420,961.84. Following the completion of the sale, the executive vice president now owns 122,920 shares in the company, valued at approximately $7,007,669.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Cytokinetics news, EVP Fady Ibraham Malik sold 7,384 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $57.01, for a total value of $420,961.84. Following the completion of the sale, the executive vice president now directly owns 122,920 shares in the company, valued at approximately $7,007,669.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director B Lynne Parshall sold 5,000 shares of Cytokinetics stock in a transaction on Monday, July 1st. The stock was sold at an average price of $54.22, for a total value of $271,100.00. Following the transaction, the director now owns 20,600 shares in the company, valued at approximately $1,116,932. The disclosure for this sale can be found here. Over the last three months, insiders have sold 107,837 shares of company stock worth $6,018,383. 3.40% of the stock is owned by insiders.

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.