Rafferty Asset Management LLC Has $7.90 Million Stock Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Rafferty Asset Management LLC lowered its position in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 22.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 167,935 shares of the biopharmaceutical company's stock after selling 48,891 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.14% of Cytokinetics worth $7,900,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CYTK. Jones Financial Companies Lllp lifted its stake in Cytokinetics by 189.8% in the 4th 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 during the last quarter. Retirement Systems of Alabama raised its stake in 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 buying an additional 565 shares during the period. Arizona State Retirement System lifted its position 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 buying an additional 600 shares during the last quarter. 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 acquiring an additional 616 shares during the period. Finally, Centricity Wealth Management LLC bought a new position in shares of Cytokinetics during the 4th quarter worth approximately $29,000.

Insider Buying and Selling

In other news, EVP Andrew Callos sold 3,341 shares of the business's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $43.27, for a total transaction of $144,565.07. Following the completion of the transaction, the executive vice president now owns 64,434 shares of the company's stock, valued at approximately $2,788,059.18. The trade was a 4.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wendall Wierenga sold 20,000 shares of the company's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $38.46, for a total value of $769,200.00. Following the sale, the director now owns 24,848 shares of the company's stock, valued at approximately $955,654.08. This represents a 44.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,816 shares of company stock worth $3,850,385. Corporate insiders own 2.70% of the company's stock.

Cytokinetics Price Performance

Shares of CYTK traded down $0.07 during trading hours on Friday, hitting $30.42. 505,043 shares of the company were exchanged, compared to its average volume of 1,688,154. The company has a market cap of $3.63 billion, a price-to-earnings ratio of -5.65 and a beta of 0.81. The firm's fifty day moving average is $37.83 and its 200 day moving average is $44.72. Cytokinetics, Incorporated has a fifty-two week low of $29.31 and a fifty-two week high of $61.38. 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 (NASDAQ:CYTK - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.41) by $0.05. The firm had revenue of $1.60 million for the quarter, compared to analyst estimates of $2.77 million. During the same quarter in the previous year, the company earned ($1.33) earnings per share. The company's quarterly revenue was up 89.1% on a year-over-year basis. On average, equities analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CYTK has been the subject of several research reports. Royal Bank of Canada cut their price target on Cytokinetics from $82.00 to $80.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Citigroup dropped their price objective on shares of Cytokinetics from $86.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. HC Wainwright reaffirmed a "buy" rating and set a $120.00 target price on shares of Cytokinetics in a report on Monday, April 21st. JMP Securities reiterated a "market outperform" rating and issued a $78.00 price target on shares of Cytokinetics in a research note on Thursday, April 10th. Finally, Bank of America cut their price objective on shares of Cytokinetics from $62.00 to $54.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $74.44.

Cytokinetics Profile

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.