Ensign Peak Advisors Inc Buys 39,172 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Ensign Peak Advisors Inc raised its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 9.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 463,431 shares of the biopharmaceutical company’s stock after purchasing an additional 39,172 shares during the period. Ensign Peak Advisors Inc owned approximately 0.44% of Cytokinetics worth $25,109,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. First Bank & Trust boosted its holdings in Cytokinetics by 4.7% in the 2nd quarter. First Bank & Trust now owns 6,757 shares of the biopharmaceutical company’s stock valued at $366,000 after purchasing an additional 303 shares during the period. J.Safra Asset Management Corp boosted its holdings in Cytokinetics by 642.3% in the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 456 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Cytokinetics by 19.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,416 shares of the biopharmaceutical company’s stock valued at $239,000 after purchasing an additional 558 shares during the period. Inspire Investing LLC boosted its holdings in Cytokinetics by 13.5% in the 1st quarter. Inspire Investing LLC now owns 5,087 shares of the biopharmaceutical company’s stock valued at $357,000 after purchasing an additional 605 shares during the period. Finally, DNB Asset Management AS boosted its holdings in Cytokinetics by 9.8% in the 2nd quarter. DNB Asset Management AS now owns 7,231 shares of the biopharmaceutical company’s stock valued at $392,000 after purchasing an additional 645 shares during the period.

Cytokinetics Trading Down 3.3 %

CYTK opened at $53.77 on Monday. Cytokinetics, Incorporated has a fifty-two week low of $25.98 and a fifty-two week high of $110.25. 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 firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of -9.96 and a beta of 0.77. The company’s 50 day moving average price is $56.22 and its two-hundred day moving average price is $59.18.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data 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 firm had revenue of $0.25 million for the quarter, compared to the consensus estimate of $7.61 million. During the same quarter in the prior year, the company posted ($1.34) earnings per share. The business’s revenue was down 71.3% on a year-over-year basis. As a group, research analysts predict that Cytokinetics, Incorporated will post -5.15 earnings per share for the current year.

Insider Activity

In other news, CEO Robert I. Blum sold 11,500 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $54.05, for a total value of $621,575.00. Following the sale, the chief executive officer now directly owns 405,145 shares of the company’s stock, valued at approximately $21,898,087.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Robert I. Blum sold 11,500 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $54.05, for a total transaction of $621,575.00. Following the transaction, the chief executive officer now directly owns 405,145 shares of the company’s stock, valued at $21,898,087.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $57.03, for a total transaction of $285,150.00. Following the transaction, the chief executive officer now owns 397,456 shares in the company, valued at approximately $22,666,915.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 107,837 shares of company stock valued at $6,018,383. 3.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on CYTK. JMP Securities reissued a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Wednesday, September 4th. Truist Financial dropped their target price on shares of Cytokinetics from $86.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. JPMorgan Chase & Co. boosted their target price 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 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 research report on Tuesday, August 13th. Finally, HC Wainwright restated a “buy” rating and issued a $90.00 target price on shares of Cytokinetics in a research report on Friday. One research 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 data from MarketBeat, Cytokinetics presently has an average rating of “Moderate Buy” and an average target price of $80.67.

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.