Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Sold by South Dakota Investment Council

South Dakota Investment Council lessened its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 80.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. purchased a new stake in shares of Cytokinetics during the 4th quarter worth approximately $46,308,000. Vanguard Group Inc. raised its position in shares of Cytokinetics by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company’s stock worth $316,498,000 after purchasing an additional 472,595 shares during the last quarter. abrdn plc acquired a new position in shares of Cytokinetics during the 4th quarter worth approximately $10,875,000. Affinity Asset Advisors LLC raised its position in shares of Cytokinetics by 84.1% during the 3rd quarter. Affinity Asset Advisors LLC now owns 230,366 shares of the biopharmaceutical company’s stock worth $6,787,000 after purchasing an additional 105,218 shares during the last quarter. Finally, Hudson Bay Capital Management LP raised its position in shares of Cytokinetics by 300.0% during the 3rd quarter. Hudson Bay Capital Management LP now owns 80,000 shares of the biopharmaceutical company’s stock worth $2,357,000 after purchasing an additional 60,000 shares during the last quarter.

Cytokinetics Stock Down 3.0 %

Shares of CYTK stock opened at $64.80 on Friday. Cytokinetics, Incorporated has a one year low of $25.98 and a one year high of $110.25. The company’s 50-day simple moving average is $70.14 and its 200-day simple moving average is $59.58.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share 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 analysts’ expectations of $7.62 million. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the business posted ($1.45) EPS. Sell-side analysts predict that Cytokinetics, Incorporated will post -4.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Mizuho cut 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. Truist Financial reiterated a “buy” rating and issued a $86.00 price target on shares of Cytokinetics in a report on Monday, April 8th. UBS Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and boosted their price target for the company from $61.00 to $92.00 in a report on Wednesday, January 24th. Raymond James boosted their price target on Cytokinetics from $63.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, December 28th. Finally, Oppenheimer restated an “outperform” rating and set a $107.00 price objective on shares of Cytokinetics in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Cytokinetics has an average rating of “Moderate Buy” and an average price target of $79.33.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 32,605 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total value of $2,585,576.50. Following the sale, the executive vice president now owns 142,973 shares in the company, valued at $11,337,758.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Cytokinetics news, EVP Fady Ibraham Malik sold 32,605 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total value of $2,585,576.50. Following the sale, the executive vice president now owns 142,973 shares in the company, valued at $11,337,758.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $994,625.00. Following the completion of the sale, the chief executive officer now owns 441,797 shares in the company, valued at approximately $35,153,787.29. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 125,876 shares of company stock worth $9,269,877. 3.40% of the stock is owned by company insiders.

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.