Ameritas Investment Partners Inc. Has $1.91 Million Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Ameritas Investment Partners Inc. lifted its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 14.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,332 shares of the biopharmaceutical company’s stock after buying an additional 4,329 shares during the period. Ameritas Investment Partners Inc.’s holdings in Cytokinetics were worth $1,914,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Thrivent Financial for Lutherans raised its holdings in Cytokinetics by 12.7% during the second quarter. Thrivent Financial for Lutherans now owns 27,704 shares of the biopharmaceutical company’s stock worth $1,501,000 after acquiring an additional 3,132 shares in the last quarter. Sei Investments Co. increased its position in shares of Cytokinetics by 8.1% during the 2nd quarter. Sei Investments Co. now owns 63,009 shares of the biopharmaceutical company’s stock worth $3,414,000 after purchasing an additional 4,695 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Cytokinetics by 21.2% during the 2nd quarter. Pacer Advisors Inc. now owns 18,720 shares of the biopharmaceutical company’s stock worth $1,014,000 after purchasing an additional 3,271 shares in the last quarter. Inspire Investing LLC boosted its holdings in shares of Cytokinetics by 29.2% in the 2nd quarter. Inspire Investing LLC now owns 6,571 shares of the biopharmaceutical company’s stock valued at $356,000 after buying an additional 1,484 shares during the last quarter. Finally, Amalgamated Bank grew its stake in shares of Cytokinetics by 8.0% in the second quarter. Amalgamated Bank now owns 55,397 shares of the biopharmaceutical company’s stock valued at $3,001,000 after buying an additional 4,099 shares in the last quarter.

Wall Street Analyst Weigh In

CYTK has been the topic of several analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a research report on Wednesday, September 4th. The Goldman Sachs Group cut shares of Cytokinetics from a “buy” rating to a “neutral” rating and dropped their target price for the company from $85.00 to $60.00 in a report on Tuesday, August 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research note on Monday, September 9th. Needham & Company LLC reissued a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. raised their price objective on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Cytokinetics currently has an average rating of “Moderate Buy” and an average target price of $80.67.

Insider Activity at Cytokinetics

In other Cytokinetics news, Director B Lynne Parshall sold 5,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $54.22, for a total transaction of $271,100.00. Following the transaction, the director now owns 20,600 shares in the company, valued at approximately $1,116,932. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $53.72, for a total transaction of $392,156.00. Following the completion of the sale, the executive vice president now owns 133,004 shares of the company’s stock, valued at approximately $7,144,974.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director B Lynne Parshall sold 5,000 shares of Cytokinetics stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $54.22, for a total transaction of $271,100.00. Following the completion of the transaction, the director now directly owns 20,600 shares in the company, valued at $1,116,932. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 107,837 shares of company stock worth $6,018,383. Company insiders own 3.40% of the company’s stock.

Cytokinetics Trading Down 3.3 %

Shares of Cytokinetics stock opened at $53.77 on Monday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 10.39 and a current ratio of 10.39. The firm has a 50-day moving average of $56.22 and a 200-day moving average of $59.18. Cytokinetics, Incorporated has a 52-week low of $25.98 and a 52-week high of $110.25. The stock has a market cap of $5.64 billion, a PE ratio of -9.96 and a beta of 0.77.

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

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.