California Public Employees Retirement System Has $6.37 Million Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

California Public Employees Retirement System reduced its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 26.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,473 shares of the biopharmaceutical company's stock after selling 48,263 shares during the quarter. California Public Employees Retirement System owned 0.11% of Cytokinetics worth $6,373,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Stifel Financial Corp boosted its position in shares of Cytokinetics by 8.5% in the 3rd quarter. Stifel Financial Corp now owns 25,067 shares of the biopharmaceutical company's stock valued at $1,324,000 after purchasing an additional 1,959 shares during the period. Two Sigma Advisers LP purchased a new position in shares of Cytokinetics in the third quarter worth approximately $11,336,000. XTX Topco Ltd acquired a new stake in shares of Cytokinetics during the third quarter valued at approximately $521,000. Geode Capital Management LLC boosted its stake in Cytokinetics by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company's stock worth $150,433,000 after purchasing an additional 109,938 shares during the period. Finally, Teachers Retirement System of The State of Kentucky grew its position in Cytokinetics by 12.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 56,885 shares of the biopharmaceutical company's stock worth $3,003,000 after purchasing an additional 6,300 shares in the last quarter.

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Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CYTK. Stifel Nicolaus began coverage on Cytokinetics in a research note on Wednesday, January 22nd. They issued a "buy" rating and a $80.00 price objective for the company. JMP Securities restated a "market outperform" rating and set a $78.00 price target on shares of Cytokinetics in a research note on Thursday. Evercore ISI upgraded Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. Morgan Stanley set a $67.00 price target on Cytokinetics in a report on Friday, March 7th. Finally, Needham & Company LLC restated a "buy" rating and issued a $72.00 price objective on shares of Cytokinetics in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cytokinetics has a consensus rating of "Moderate Buy" and an average price target of $82.00.

Insider Buying and Selling

In related news, EVP Fady Ibraham Malik sold 2,000 shares of the company's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $45.92, for a total value of $91,840.00. Following the completion of the sale, the executive vice president now owns 116,071 shares in the company, valued at approximately $5,329,980.32. This represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $36.77, for a total transaction of $183,850.00. Following the transaction, the chief executive officer now directly owns 422,629 shares in the company, valued at $15,540,068.33. The trade was a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,170 shares of company stock valued at $2,766,739 over the last quarter. Corporate insiders own 3.40% of the company's stock.

Cytokinetics Stock Performance

Shares of CYTK stock traded up $0.80 during mid-day trading on Friday, reaching $38.65. The stock had a trading volume of 2,450,299 shares, compared to its average volume of 1,583,353. The firm has a market cap of $4.58 billion, a PE ratio of -7.18 and a beta of 0.94. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a one year low of $32.74 and a one year high of $73.76. The firm's 50 day simple moving average is $43.17 and its 200 day simple moving average is $48.18.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping analysts' consensus estimates of ($1.29) by $0.03. The business had revenue of $16.93 million for the quarter, compared to analyst estimates of $14.26 million. On average, analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS 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.