Impax Asset Management Group plc Increases Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

Impax Asset Management Group plc grew its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 40.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 175,000 shares of the biopharmaceutical company’s stock after buying an additional 50,000 shares during the quarter. Impax Asset Management Group plc owned 0.15% of Cytokinetics worth $8,232,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Louisiana State Employees Retirement System increased its holdings in shares of Cytokinetics by 0.6% in the 3rd quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the biopharmaceutical company’s stock valued at $1,721,000 after purchasing an additional 200 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Cytokinetics by 2.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 15,062 shares of the biopharmaceutical company’s stock valued at $795,000 after acquiring an additional 430 shares in the last quarter. MetLife Investment Management LLC increased its holdings in Cytokinetics by 0.4% during the 3rd quarter. MetLife Investment Management LLC now owns 123,308 shares of the biopharmaceutical company’s stock valued at $6,511,000 after acquiring an additional 538 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of Cytokinetics by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company’s stock worth $6,750,000 after purchasing an additional 565 shares during the last quarter. Finally, Inspire Investing LLC boosted its stake in shares of Cytokinetics by 7.8% during the 4th quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock worth $400,000 after purchasing an additional 616 shares during the last quarter.

Analysts Set New Price Targets

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 note on Friday, February 7th. Mizuho raised their price target 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 reaffirmed a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a research note on Tuesday, January 21st. Royal Bank of Canada raised their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Finally, Citigroup initiated coverage on shares of Cytokinetics in a research report on Friday, February 7th. They issued a “buy” rating and a $86.00 target price on the stock. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $82.00.

Insider Activity at Cytokinetics

In other news, Director Wendall Wierenga sold 742 shares of Cytokinetics stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $48.61, for a total transaction of $36,068.62. Following the sale, the director now owns 24,559 shares in the company, valued at $1,193,812.99. This trade represents a 2.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $45.98, for a total transaction of $91,960.00. Following the sale, the executive vice president now owns 116,071 shares in the company, valued at $5,336,944.58. This represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,822 shares of company stock worth $1,127,848. Company insiders own 3.40% of the company’s stock.

Cytokinetics Trading Down 4.2 %

NASDAQ CYTK opened at $48.14 on Tuesday. Cytokinetics, Incorporated has a one year low of $40.53 and a one year high of $81.36. The company’s 50 day moving average price is $47.27 and its 200 day moving average price is $51.48. 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 capitalization of $5.68 billion, a price-to-earnings ratio of -8.95 and a beta of 0.83.

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.