Strs Ohio Invests $418,000 in Cytokinetics, Incorporated $CYTK

Key Points

• Strs Ohio invested approximately $418,000 in Cytokinetics, acquiring 10,400 shares of the biopharmaceutical company during the first quarter of the year.
• Cytokinetics CEO Robert I. Blum sold 5,000 shares of the company's stock for a total of $190,750, reducing his ownership by 1.26%.
• Recent earnings showed Cytokinetics reported ($1.12) EPS, exceeding estimates and achieving a revenue increase of 26,727.3% compared to the same quarter last year.

Strs Ohio acquired a new position in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 10,400 shares of the biopharmaceutical company's stock, valued at approximately $418,000.

Other large investors also recently modified their holdings of the company. Fifth Third Bancorp lifted its holdings in shares of Cytokinetics by 42.2% during the 1st quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company's stock valued at $39,000 after acquiring an additional 291 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Cytokinetics by 500.5% during the 1st quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company's stock valued at $44,000 after acquiring an additional 916 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Cytokinetics by 281.0% during the 1st quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company's stock valued at $45,000 after acquiring an additional 826 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Cytokinetics by 91.4% during the 1st quarter. UMB Bank n.a. now owns 1,156 shares of the biopharmaceutical company's stock valued at $46,000 after acquiring an additional 552 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Cytokinetics by 11,510.0% during the 1st quarter. Assetmark Inc. now owns 1,161 shares of the biopharmaceutical company's stock valued at $47,000 after acquiring an additional 1,151 shares in the last quarter.

Insider Activity

In related news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $38.15, for a total transaction of $190,750.00. Following the completion of the sale, the chief executive officer directly owned 393,108 shares of the company's stock, valued at $14,997,070.20. This represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $51.29, for a total transaction of $102,580.00. Following the sale, the executive vice president directly owned 140,610 shares of the company's stock, valued at approximately $7,211,886.90. This represents a 1.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,756 shares of company stock worth $1,353,990 over the last three months. Corporate insiders own 3.40% of the company's stock.

Cytokinetics Stock Performance

Shares of Cytokinetics stock opened at $48.25 on Tuesday. The firm has a market cap of $5.77 billion, a PE ratio of -9.46 and a beta of 0.62. The firm's 50-day simple moving average is $40.98 and its 200-day simple moving average is $38.00. Cytokinetics, Incorporated has a 1 year low of $29.31 and a 1 year high of $59.39.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.12) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.34) by $0.22. The company had revenue of $66.77 million during the quarter, compared to analyst estimates of $1.95 million. During the same quarter last year, the company posted ($1.31) EPS. The business's revenue for the quarter was up 26727.3% compared to the same quarter last year. On average, equities analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Analysts Set New Price Targets

CYTK has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Cytokinetics from $71.00 to $53.00 and set an "overweight" rating on the stock in a report on Monday, June 9th. Mizuho reduced their target price on shares of Cytokinetics from $103.00 to $84.00 and set an "outperform" rating on the stock in a report on Thursday, May 29th. Citigroup lifted their target price on shares of Cytokinetics from $77.00 to $84.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Stifel Nicolaus lifted their target price on shares of Cytokinetics from $87.00 to $96.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Finally, Barclays boosted their price objective on shares of Cytokinetics from $53.00 to $71.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Cytokinetics presently has a consensus rating of "Moderate Buy" and an average price target of $75.71.

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.

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