Intech Investment Management LLC Purchases 17,602 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Intech Investment Management LLC grew its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 53.9% in the 4th quarter, HoldingsChannel reports. The firm owned 50,273 shares of the biopharmaceutical company’s stock after acquiring an additional 17,602 shares during the quarter. Intech Investment Management LLC’s holdings in Cytokinetics were worth $2,365,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake in Cytokinetics by 189.8% during the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 374 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Cytokinetics by 0.4% during the third quarter. MetLife Investment Management LLC now owns 123,308 shares of the biopharmaceutical company’s stock worth $6,511,000 after purchasing an additional 538 shares during the last quarter. Retirement Systems of Alabama lifted its stake in Cytokinetics by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company’s stock worth $6,750,000 after purchasing an additional 565 shares during the last quarter. Arizona State Retirement System lifted its stake in Cytokinetics by 1.9% during the fourth quarter. Arizona State Retirement System now owns 32,366 shares of the biopharmaceutical company’s stock worth $1,522,000 after purchasing an additional 600 shares during the last quarter. Finally, Inspire Investing LLC lifted its stake in Cytokinetics by 7.8% during the fourth quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock worth $400,000 after purchasing an additional 616 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Citigroup began coverage on Cytokinetics in a research note on Friday, February 7th. They set a “buy” rating and a $86.00 price target for the company. Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. Mizuho lifted their price objective on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Stifel Nicolaus began coverage on Cytokinetics in a report on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price objective on the stock. Finally, Morgan Stanley set a $67.00 price objective on Cytokinetics in a report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.00.

Insiders Place Their Bets

In other news, EVP Fady Ibraham Malik sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $49.32, for a total value of $98,640.00. Following the sale, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at $5,724,621.72. The trade was a 1.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert I. Blum sold 16,970 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $43.44, for a total value of $737,176.80. Following the completion of the sale, the chief executive officer now directly owns 364,181 shares in the company, valued at approximately $15,820,022.64. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,834 shares of company stock worth $1,949,275. Company insiders own 3.40% of the company’s stock.

Cytokinetics Stock Down 0.8 %

CYTK stock opened at $43.10 on Friday. Cytokinetics, Incorporated has a fifty-two week low of $40.53 and a fifty-two week high of $75.71. The business’s 50 day moving average price is $45.99 and its two-hundred day moving average price is $50.04. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of -8.01 and a beta of 0.95.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.03. The firm had revenue of $16.93 million for the quarter, compared to analysts’ expectations of $14.26 million. As a group, analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

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.