Nisa Investment Advisors LLC Trims Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

Nisa Investment Advisors LLC trimmed its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 2.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,692 shares of the biopharmaceutical company’s stock after selling 370 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Cytokinetics were worth $691,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in Cytokinetics by 27.9% during the second quarter. Dimensional Fund Advisors LP now owns 148,561 shares of the biopharmaceutical company’s stock valued at $8,049,000 after purchasing an additional 32,372 shares in the last quarter. Sei Investments Co. grew its stake in Cytokinetics by 8.1% during the 2nd quarter. Sei Investments Co. now owns 63,009 shares of the biopharmaceutical company’s stock worth $3,414,000 after buying an additional 4,695 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Cytokinetics by 12.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 27,704 shares of the biopharmaceutical company’s stock valued at $1,501,000 after buying an additional 3,132 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Cytokinetics by 14.8% during the second quarter. Bank of Montreal Can now owns 13,392 shares of the biopharmaceutical company’s stock worth $727,000 after acquiring an additional 1,727 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Cytokinetics by 10.5% during the 2nd quarter. AQR Capital Management LLC now owns 33,401 shares of the biopharmaceutical company’s stock worth $1,810,000 after purchasing an additional 3,168 shares during the last quarter.

Cytokinetics Trading Down 2.5 %

Shares of NASDAQ:CYTK opened at $48.70 on Wednesday. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of -9.05 and a beta of 0.82. The business’s 50 day moving average price is $48.72 and its 200-day moving average price is $52.83. 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 1 year low of $44.49 and a 1 year high of $84.05.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The business had revenue of $0.46 million for the quarter, compared to analyst estimates of $1.21 million. The firm’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter last year, the firm posted ($1.35) earnings per share. On average, equities research analysts forecast that Cytokinetics, Incorporated will post -5.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. HC Wainwright restated a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a research note on Tuesday, January 21st. Stifel Nicolaus initiated coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They set a “buy” rating and a $80.00 price objective for the company. JMP Securities reiterated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research note on Tuesday, January 14th. Needham & Company LLC restated a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research report on Monday, December 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $82.79.

Insider Activity at Cytokinetics

In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $51.63, for a total value of $258,150.00. Following the transaction, the chief executive officer now owns 397,456 shares in the company, valued at approximately $20,520,653.28. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $50.16, for a total transaction of $366,168.00. Following the sale, the executive vice president now directly owns 111,878 shares of the company’s stock, valued at $5,611,800.48. The trade was a 6.13 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,464 shares of company stock valued at $2,187,716. 3.40% of the stock is owned by corporate insiders.

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.