Victory Capital Management Inc. purchased a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 9,933 shares of the biopharmaceutical company’s stock, valued at approximately $231,000.
Several other institutional investors and hedge funds also recently bought and sold shares of CYTK. State of New Jersey Common Pension Fund D acquired a new stake in Cytokinetics during the 1st quarter worth approximately $2,414,000. Nisa Investment Advisors LLC boosted its position in Cytokinetics by 23.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 10,620 shares of the biopharmaceutical company’s stock worth $247,000 after buying an additional 2,020 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Cytokinetics during the 1st quarter worth approximately $5,374,000. Oregon Public Employees Retirement Fund boosted its position in Cytokinetics by 4.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 29,206 shares of the biopharmaceutical company’s stock worth $679,000 after buying an additional 1,261 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its position in Cytokinetics by 4.0% during the 1st quarter. Crossmark Global Holdings Inc. now owns 15,950 shares of the biopharmaceutical company’s stock worth $371,000 after buying an additional 610 shares during the period. Institutional investors own 97.52% of the company’s stock.
CYTK opened at $21.52 on Friday. The company has a quick ratio of 12.05, a current ratio of 12.05 and a debt-to-equity ratio of 1.94. The stock has a market cap of $1.54 billion, a P/E ratio of -10.71 and a beta of 1.38. The business’s fifty day moving average price is $23.93. Cytokinetics, Incorporated has a 1 year low of $14.71 and a 1 year high of $30.14.
Several equities research analysts recently commented on the stock. Barclays assumed coverage on shares of Cytokinetics in a research report on Thursday, February 18th. They set an “overweight” rating and a $28.00 target price on the stock. Wolfe Research assumed coverage on shares of Cytokinetics in a research report on Thursday, March 11th. They issued an “outperform” rating and a $50.00 price target on the stock. Zacks Investment Research upgraded shares of Cytokinetics from a “sell” rating to a “hold” rating in a research report on Wednesday, April 28th. Morgan Stanley boosted their price target on shares of Cytokinetics from $24.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, April 19th. Finally, Mizuho boosted their price target on shares of Cytokinetics from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, May 11th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Cytokinetics currently has an average rating of “Buy” and an average target price of $35.08.
In related news, Director Sandford D. Smith sold 27,582 shares of the business’s stock in a transaction dated Friday, April 9th. The shares were sold at an average price of $23.93, for a total value of $660,037.26. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director L Patrick Gage sold 10,000 shares of the business’s stock in a transaction dated Friday, March 19th. The stock was sold at an average price of $24.45, for a total transaction of $244,500.00. Following the completion of the transaction, the director now directly owns 31,762 shares in the company, valued at $776,580.90. The disclosure for this sale can be found here. Insiders sold a total of 117,367 shares of company stock worth $2,829,923 over the last three months. 5.70% of the stock is owned by insiders.
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 is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.
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