South Dakota Investment Council Sells 33,700 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

South Dakota Investment Council cut its position in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 80.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,021 shares of the biopharmaceutical company's stock after selling 33,700 shares during the quarter. South Dakota Investment Council's holdings in Cytokinetics were worth $670,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Cytokinetics by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company's stock valued at $316,498,000 after acquiring an additional 472,595 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Cytokinetics in the 4th quarter valued at $46,308,000. Rhumbline Advisers raised its holdings in Cytokinetics by 1.1% in the 3rd quarter. Rhumbline Advisers now owns 274,869 shares of the biopharmaceutical company's stock valued at $8,098,000 after acquiring an additional 3,005 shares in the last quarter. Rafferty Asset Management LLC raised its holdings in Cytokinetics by 10.0% in the 3rd quarter. Rafferty Asset Management LLC now owns 246,922 shares of the biopharmaceutical company's stock valued at $7,274,000 after acquiring an additional 22,498 shares in the last quarter. Finally, Affinity Asset Advisors LLC raised its holdings in Cytokinetics by 84.1% in the 3rd quarter. Affinity Asset Advisors LLC now owns 230,366 shares of the biopharmaceutical company's stock valued at $6,787,000 after acquiring an additional 105,218 shares in the last quarter.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, Director John T. Henderson sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $76.48, for a total value of $382,400.00. Following the completion of the sale, the director now owns 42,632 shares of the company's stock, valued at $3,260,495.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cytokinetics news, Director John T. Henderson sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $76.48, for a total value of $382,400.00. Following the completion of the sale, the director now owns 42,632 shares of the company's stock, valued at $3,260,495.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert I. Blum sold 12,500 shares of the firm's stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $79.57, for a total value 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 125,876 shares of company stock valued at $9,269,877. Company insiders own 3.40% of the company's stock.

Cytokinetics Price Performance

Shares of Cytokinetics stock traded up $0.54 on Friday, hitting $65.34. 628,014 shares of the company's stock traded hands, compared to its average volume of 2,899,541. Cytokinetics, Incorporated has a one year low of $25.98 and a one year high of $110.25. The company has a fifty day moving average of $70.14 and a two-hundred day moving average of $59.58. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of -11.99 and a beta of 0.68.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $7.62 million. During the same quarter last year, the firm posted ($1.45) EPS. Cytokinetics's quarterly revenue was down 10.5% compared to the same quarter last year. Equities research analysts anticipate that Cytokinetics, Incorporated will post -4.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CYTK shares. Mizuho lowered their price target on Cytokinetics from $103.00 to $99.00 and set a "buy" rating for the company in a report on Wednesday, March 6th. HC Wainwright reissued a "buy" rating and set a $94.00 price target on shares of Cytokinetics in a report on Wednesday, February 28th. StockNews.com cut Cytokinetics from a "hold" rating to a "sell" rating in a report on Friday, January 5th. Truist Financial reissued a "buy" rating and set a $86.00 price target on shares of Cytokinetics in a report on Monday, April 8th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $107.00 target price on shares of Cytokinetics in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, Cytokinetics presently has an average rating of "Moderate Buy" and an average price target of $79.33.

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.