Retirement Systems of Alabama Has $6.75 Million Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Retirement Systems of Alabama raised its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 143,495 shares of the biopharmaceutical company’s stock after purchasing an additional 565 shares during the quarter. Retirement Systems of Alabama’s holdings in Cytokinetics were worth $6,750,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Louisiana State Employees Retirement System boosted its stake in shares of Cytokinetics by 0.6% in the 3rd quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the biopharmaceutical company’s stock valued at $1,721,000 after purchasing an additional 200 shares during the last quarter. UMB Bank n.a. lifted its holdings in Cytokinetics by 65.6% in the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 238 shares during the period. Nisa Investment Advisors LLC grew its holdings in Cytokinetics by 2.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 15,062 shares of the biopharmaceutical company’s stock worth $795,000 after acquiring an additional 430 shares during the period. MetLife Investment Management LLC raised its position in shares of Cytokinetics by 0.4% during the 3rd quarter. MetLife Investment Management LLC now owns 123,308 shares of the biopharmaceutical company’s stock valued at $6,511,000 after acquiring an additional 538 shares during the last quarter. Finally, Inspire Investing LLC lifted its stake in shares of Cytokinetics by 7.8% in the 4th quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock valued at $400,000 after purchasing an additional 616 shares during the period.

Insider Transactions at Cytokinetics

In related news, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $50.76, for a total value of $253,800.00. Following the completion of the sale, the chief executive officer now directly owns 397,678 shares in the company, valued at approximately $20,186,135.28. The trade was a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Fady Ibraham Malik sold 2,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $45.92, for a total value of $91,840.00. Following the completion of the transaction, the executive vice president now owns 116,071 shares in the company, valued at $5,329,980.32. The trade was a 1.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,464 shares of company stock worth $2,025,686. Company insiders own 3.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CYTK. Royal Bank of Canada raised their target price on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Stifel Nicolaus assumed coverage on shares of Cytokinetics in a report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a report on Thursday. JMP Securities reissued a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research note on Friday. Finally, Citigroup started coverage on shares of Cytokinetics in a report on Friday. They issued a “buy” rating and a $86.00 price target for the company. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Cytokinetics Stock Down 7.4 %

Cytokinetics stock opened at $42.76 on Monday. The company’s 50-day moving average price is $48.32 and its two-hundred day moving average price is $52.34. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The stock has a market cap of $5.05 billion, a P/E ratio of -7.95 and a beta of 0.83. Cytokinetics, Incorporated has a twelve month low of $42.72 and a twelve month high of $81.36.

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.