Mutual of America Capital Management LLC Has $3.56 Million Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Mutual of America Capital Management LLC boosted its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 12.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,645 shares of the biopharmaceutical company’s stock after buying an additional 7,208 shares during the period. Mutual of America Capital Management LLC owned about 0.06% of Cytokinetics worth $3,557,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CYTK. Vestal Point Capital LP purchased a new position in shares of Cytokinetics during the fourth quarter valued at $4,174,000. State of Michigan Retirement System acquired a new position in shares of Cytokinetics in the 1st quarter valued at about $1,690,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Cytokinetics during the first quarter worth approximately $4,703,000. Entropy Technologies LP boosted its holdings in shares of Cytokinetics by 110.6% during the first quarter. Entropy Technologies LP now owns 19,433 shares of the biopharmaceutical company’s stock worth $1,362,000 after purchasing an additional 10,205 shares during the period. Finally, Perceptive Advisors LLC purchased a new position in Cytokinetics during the fourth quarter valued at approximately $2,531,000.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK opened at $52.09 on Tuesday. The company has a market cap of $5.46 billion, a price-to-earnings ratio of -9.65 and a beta of 0.77. The business has a 50 day moving average price of $56.11 and a 200 day moving average price of $59.09. The company has a quick ratio of 10.39, a current ratio of 10.39 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a twelve month low of $25.98 and a twelve 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 (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The firm had revenue of $0.25 million for the quarter, compared to analyst estimates of $7.61 million. The company’s revenue was down 71.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.34) EPS. Research analysts predict that Cytokinetics, Incorporated will post -5.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CYTK. Needham & Company LLC reissued a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research note on Tuesday, September 3rd. B. Riley cut their price target on Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, June 4th. Truist Financial lowered their price target on Cytokinetics from $86.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research report on Monday, September 9th. Finally, The Goldman Sachs Group downgraded shares of Cytokinetics from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $85.00 to $60.00 in a research report on Tuesday, August 13th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.67.

Insider Activity

In related news, CEO Robert I. Blum sold 11,500 shares of Cytokinetics stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $54.05, for a total transaction of $621,575.00. Following the sale, the chief executive officer now directly owns 405,145 shares of the company’s stock, valued at $21,898,087.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $57.03, for a total value of $285,150.00. Following the completion of the transaction, the chief executive officer now directly owns 397,456 shares of the company’s stock, valued at $22,666,915.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert I. Blum sold 11,500 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $54.05, for a total transaction of $621,575.00. Following the completion of the sale, the chief executive officer now directly owns 405,145 shares in the company, valued at approximately $21,898,087.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,537 shares of company stock valued at $5,626,227. Insiders own 3.40% of the company’s stock.

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.