49,100 Shares in Cytokinetics, Incorporated (NASDAQ:CYTK) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 49,100 shares of the biopharmaceutical company's stock, valued at approximately $4,099,000. Louisiana State Employees Retirement System owned 0.05% of Cytokinetics as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Cytokinetics by 25.1% in the first quarter. Vanguard Group Inc. now owns 8,741,124 shares of the biopharmaceutical company's stock worth $321,760,000 after purchasing an additional 1,751,405 shares during the period. Bank of America Corp DE raised its position in Cytokinetics by 244.6% in the first quarter. Bank of America Corp DE now owns 1,203,255 shares of the biopharmaceutical company's stock worth $42,343,000 after acquiring an additional 854,101 shares during the period. Norges Bank bought a new stake in Cytokinetics in the fourth quarter worth about $38,459,000. Price T Rowe Associates Inc. MD increased its stake in shares of Cytokinetics by 119.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,093,447 shares of the biopharmaceutical company's stock worth $52,978,000 after purchasing an additional 595,708 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Cytokinetics in the fourth quarter worth about $46,308,000.

Cytokinetics Stock Down 5.0 %

Shares of NASDAQ:CYTK traded down $3.56 during midday trading on Monday, reaching $68.00. The company's stock had a trading volume of 1,516,923 shares, compared to its average volume of 3,122,778. The firm has a 50 day moving average of $71.93 and a 200-day moving average of $57.85. The firm has a market capitalization of $7.11 billion, a P/E ratio of -12.48 and a beta of 0.68. Cytokinetics, Incorporated has a 12-month low of $25.98 and a 12-month high of $110.25.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The company had revenue of $1.70 million for the quarter, compared to the consensus estimate of $7.62 million. During the same quarter last year, the business earned ($1.45) earnings per share. The business's revenue was down 10.5% compared to the same quarter last year. On average, research analysts predict that Cytokinetics, Incorporated will post -4.5 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $108.00 price objective on shares of Cytokinetics in a research note on Tuesday, April 9th. Oppenheimer restated an "outperform" rating and issued a $107.00 price objective on shares of Cytokinetics in a report on Monday, March 4th. Mizuho lowered their price objective on shares of Cytokinetics from $103.00 to $99.00 and set a "buy" rating for the company in a report on Wednesday, March 6th. UBS Group lowered shares of Cytokinetics from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $61.00 to $92.00 in a report on Wednesday, January 24th. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $90.00 price target (up from $60.00) on shares of Cytokinetics in a report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $79.33.

Insider Transactions at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 12,500 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $79.57, for a total transaction of $994,625.00. Following the completion of the sale, the chief executive officer now directly owns 441,797 shares of the company's stock, valued at approximately $35,153,787.29. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director John T. Henderson sold 5,000 shares of Cytokinetics stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $76.48, for a total transaction of $382,400.00. Following the completion of the sale, the director now directly owns 42,632 shares in the company, valued at $3,260,495.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert I. Blum sold 12,500 shares of Cytokinetics stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $79.57, for a total value of $994,625.00. Following the sale, the chief executive officer now owns 441,797 shares of the company's stock, valued at $35,153,787.29. The disclosure for this sale can be found here. Insiders have sold 127,814 shares of company stock worth $9,605,955 in the last quarter. Company insiders own 3.80% of the company's stock.

Cytokinetics Company 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.