Ontario Teachers Pension Plan Board Purchases New Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

Ontario Teachers Pension Plan Board bought a new position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,212 shares of the biopharmaceutical company's stock, valued at approximately $592,000.

Several other large investors also recently bought and sold shares of the company. Louisiana State Employees Retirement System grew its holdings in Cytokinetics by 0.6% during 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 buying an additional 200 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Cytokinetics by 65.6% during the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company's stock valued at $32,000 after acquiring an additional 238 shares during the last quarter. First Bank & Trust boosted its stake in shares of Cytokinetics by 4.7% during the second quarter. First Bank & Trust now owns 6,757 shares of the biopharmaceutical company's stock valued at $366,000 after acquiring an additional 303 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Cytokinetics by 2.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 15,062 shares of the biopharmaceutical company's stock valued at $795,000 after purchasing an additional 430 shares during the last quarter. Finally, J.Safra Asset Management Corp lifted its holdings in Cytokinetics by 642.3% in the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 456 shares in the last quarter.

Cytokinetics Stock Up 3.0 %

CYTK traded up $1.43 during trading on Friday, reaching $49.10. 1,640,036 shares of the stock traded hands, compared to its average volume of 2,054,286. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. Cytokinetics, Incorporated has a fifty-two week low of $30.68 and a fifty-two week high of $110.25. The stock's 50-day simple moving average is $53.74 and its two-hundred day simple moving average is $54.92. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of -8.86 and a beta of 0.78.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing analysts' consensus estimates of ($1.27) by ($0.09). The company had revenue of $0.46 million during the quarter, compared to analysts' expectations of $1.21 million. The business's revenue was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.35) EPS. As a group, equities research analysts expect that Cytokinetics, Incorporated will post -5.31 EPS for the current year.

Analyst Ratings Changes

CYTK has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 price target on shares of Cytokinetics in a research report on Wednesday. Mizuho increased their price target on Cytokinetics from $99.00 to $103.00 and gave the company an "outperform" rating in a report on Thursday. HC Wainwright reiterated a "buy" rating and set a $120.00 target price on shares of Cytokinetics in a report on Monday. Cantor Fitzgerald restated an "overweight" rating on shares of Cytokinetics in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an "overweight" rating in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Cytokinetics presently has a consensus rating of "Moderate Buy" and an average target price of $83.93.

Insider Buying and Selling at Cytokinetics

In related news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $57.03, for a total value of $285,150.00. Following the completion of the sale, the chief executive officer now owns 397,456 shares in the company, valued at approximately $22,666,915.68. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Fady Ibraham Malik sold 7,300 shares of the business's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $51.91, for a total value of $378,943.00. Following the sale, the executive vice president now owns 114,920 shares in the company, valued at approximately $5,965,497.20. This represents a 5.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,078 shares of company stock worth $3,514,119 over the last 90 days. 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.