Mutual of America Capital Management LLC Sells 1,600 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Mutual of America Capital Management LLC reduced its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 2.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 60,739 shares of the biopharmaceutical company’s stock after selling 1,600 shares during the period. Mutual of America Capital Management LLC owned 0.05% of Cytokinetics worth $2,441,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Cytokinetics in the 4th quarter worth approximately $254,000. AlphaQuest LLC boosted its stake in Cytokinetics by 113,500.0% in the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 1,135 shares in the last quarter. Swiss National Bank boosted its stake in Cytokinetics by 2.0% in the 4th quarter. Swiss National Bank now owns 219,800 shares of the biopharmaceutical company’s stock worth $10,339,000 after purchasing an additional 4,300 shares in the last quarter. Cibc World Markets Corp acquired a new stake in Cytokinetics in the 4th quarter worth approximately $503,000. Finally, Intech Investment Management LLC boosted its stake in Cytokinetics by 53.9% in the 4th quarter. Intech Investment Management LLC now owns 50,273 shares of the biopharmaceutical company’s stock worth $2,365,000 after purchasing an additional 17,602 shares in the last quarter.

Cytokinetics Stock Down 4.3%

Shares of Cytokinetics stock opened at $37.23 on Friday. The firm has a market capitalization of $4.45 billion, a P/E ratio of -7.04 and a beta of 0.59. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $61.38. The firm’s 50 day moving average is $33.19 and its two-hundred day moving average is $39.86.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.41) by $0.05. The business had revenue of $1.60 million for the quarter, compared to analysts’ expectations of $2.77 million. The business’s revenue was up 89.1% on a year-over-year basis. During the same quarter last year, the business posted ($1.33) earnings per share. As a group, research analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on CYTK shares. Bank of America lowered their target price on shares of Cytokinetics from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research note on Wednesday, May 14th. Royal Bank Of Canada decreased their target price on shares of Cytokinetics from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. JPMorgan Chase & Co. cut their price target on shares of Cytokinetics from $71.00 to $53.00 and set an “overweight” rating for the company in a report on Monday, June 9th. Finally, Barclays cut their price target on shares of Cytokinetics from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cytokinetics currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.92.

Insiders Place Their Bets

In related news, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $33.76, for a total transaction of $67,520.00. Following the completion of the sale, the executive vice president owned 140,610 shares in the company, valued at approximately $4,746,993.60. This trade represents a 1.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edward M. Md Kaye sold 3,636 shares of Cytokinetics stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $32.10, for a total value of $116,715.60. Following the sale, the director owned 29,658 shares of the company’s stock, valued at approximately $952,021.80. This represents a 10.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,751 shares of company stock valued at $2,217,761. Company insiders own 2.70% of the company’s stock.

About Cytokinetics

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.