Retirement Systems of Alabama Has $7.55 Million Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

Retirement Systems of Alabama boosted its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,930 shares of the biopharmaceutical company’s stock after acquiring an additional 1,414 shares during the quarter. Retirement Systems of Alabama owned 0.12% of Cytokinetics worth $7,547,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its holdings in shares of Cytokinetics by 65.6% in the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 238 shares in the last quarter. Blue Trust Inc. lifted its stake in Cytokinetics by 225.9% in the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 680 shares in the last quarter. Values First Advisors Inc. acquired a new position in Cytokinetics during the 3rd quarter worth approximately $54,000. Quarry LP grew its stake in shares of Cytokinetics by 233.3% during the 2nd quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 1,400 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Cytokinetics in the second quarter valued at approximately $190,000.

Analyst Ratings Changes

Several brokerages recently commented on CYTK. JMP Securities restated a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a report on Wednesday, September 4th. Mizuho increased their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. HC Wainwright restated a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a report on Monday, December 2nd. Royal Bank of Canada assumed coverage on Cytokinetics in a report on Friday, November 8th. They set an “outperform” rating and a $80.00 target price on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $83.93.

Insiders Place Their Bets

In other news, EVP Fady Ibraham Malik sold 7,300 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $52.10, for a total transaction of $380,330.00. Following the transaction, the executive vice president now directly owns 118,920 shares of the company’s stock, valued at approximately $6,195,732. This trade represents a 5.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $55.61, for a total value of $278,050.00. Following the completion of the sale, the chief executive officer now owns 397,456 shares of the company’s stock, valued at approximately $22,102,528.16. This trade represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 74,816 shares of company stock worth $3,923,463 in the last 90 days. Company insiders own 3.40% of the company’s stock.

Cytokinetics Stock Down 2.5 %

Shares of CYTK opened at $47.78 on Wednesday. The firm’s 50-day simple moving average is $52.38 and its 200 day simple moving average is $54.08. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The firm has a market cap of $5.64 billion, a P/E ratio of -8.88 and a beta of 0.80. Cytokinetics, Incorporated has a 52 week low of $32.70 and a 52 week high of $110.25.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The firm had revenue of $0.46 million during the quarter, compared to the consensus estimate of $1.21 million. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.35) EPS. On average, analysts forecast that Cytokinetics, Incorporated will post -5.25 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.