Intech Investment Management LLC Purchases 17,602 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Intech Investment Management LLC boosted its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 53.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 50,273 shares of the biopharmaceutical company’s stock after acquiring an additional 17,602 shares during the period. Intech Investment Management LLC’s holdings in Cytokinetics were worth $2,365,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CYTK. Jones Financial Companies Lllp lifted its holdings in shares of Cytokinetics by 189.8% in the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 374 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Cytokinetics by 0.4% in the third quarter. MetLife Investment Management LLC now owns 123,308 shares of the biopharmaceutical company’s stock valued at $6,511,000 after purchasing an additional 538 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Cytokinetics by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company’s stock valued at $6,750,000 after purchasing an additional 565 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Cytokinetics by 1.9% in the fourth quarter. Arizona State Retirement System now owns 32,366 shares of the biopharmaceutical company’s stock valued at $1,522,000 after purchasing an additional 600 shares in the last quarter. Finally, Inspire Investing LLC lifted its holdings in shares of Cytokinetics by 7.8% in the fourth quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock valued at $400,000 after purchasing an additional 616 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CYTK. Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. Needham & Company LLC restated a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a report on Thursday, February 6th. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a research report on Friday, February 7th. Mizuho increased their price target on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, Morgan Stanley set a $67.00 price target on Cytokinetics in a research report on Friday, March 7th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

Insider Activity

In related news, EVP Andrew Callos sold 2,775 shares of Cytokinetics stock in a transaction on Monday, March 17th. The stock was sold at an average price of $44.38, for a total transaction of $123,154.50. Following the completion of the sale, the executive vice president now owns 34,888 shares of the company’s stock, valued at approximately $1,548,329.44. This trade represents a 7.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $49.32, for a total value of $98,640.00. Following the sale, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at $5,724,621.72. This represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,834 shares of company stock worth $1,949,275. 3.40% of the stock is owned by corporate insiders.

Cytokinetics Stock Performance

NASDAQ:CYTK opened at $43.10 on Friday. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The business has a fifty day simple moving average of $45.99 and a two-hundred day simple moving average of $50.04. Cytokinetics, Incorporated has a 1 year low of $40.53 and a 1 year high of $75.71. The company has a market capitalization of $5.10 billion, a P/E ratio of -8.01 and a beta of 0.95.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, beating the consensus estimate of ($1.29) by $0.03. The company had revenue of $16.93 million during the quarter, compared to analysts’ expectations of $14.26 million. On average, analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share 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.