Mutual of America Capital Management LLC Cuts Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

Mutual of America Capital Management LLC lessened its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,339 shares of the biopharmaceutical company’s stock after selling 1,248 shares during the period. Mutual of America Capital Management LLC’s holdings in Cytokinetics were worth $2,932,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. raised its stake in shares of Cytokinetics by 42.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock valued at $69,769,000 after acquiring an additional 395,709 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in Cytokinetics by 38.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock worth $64,040,000 after purchasing an additional 339,373 shares during the period. Checkpoint Capital L.P. raised its position in Cytokinetics by 145.7% in the 3rd quarter. Checkpoint Capital L.P. now owns 466,813 shares of the biopharmaceutical company’s stock valued at $24,648,000 after purchasing an additional 276,813 shares in the last quarter. Two Sigma Advisers LP purchased a new position in shares of Cytokinetics in the 3rd quarter valued at about $11,336,000. Finally, Janus Henderson Group PLC grew its position in shares of Cytokinetics by 17.2% during the third quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock worth $60,399,000 after buying an additional 167,501 shares in the last quarter.

Cytokinetics Stock Down 1.4 %

Shares of NASDAQ:CYTK opened at $43.27 on Friday. Cytokinetics, Incorporated has a 1-year low of $40.53 and a 1-year high of $75.71. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The stock has a market cap of $5.12 billion, a P/E ratio of -8.04 and a beta of 0.95. The firm has a fifty day moving average price of $46.91 and a 200 day moving average price of $50.98.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.03. The business had revenue of $16.93 million for the quarter, compared to analyst estimates of $14.26 million. Sell-side analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CYTK shares. Stifel Nicolaus started coverage on shares of Cytokinetics in a report on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 target price on the stock. Morgan Stanley raised shares of Cytokinetics from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $70.00 to $67.00 in a research report on Thursday, February 13th. Mizuho increased their target price on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada upped their price objective on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Two investment 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 stock. According to data from MarketBeat.com, Cytokinetics currently has a consensus rating of “Moderate Buy” and an average price target of $82.00.

Insiders Place Their Bets

In related news, Director Wendall Wierenga sold 742 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $48.61, for a total transaction of $36,068.62. Following the completion of the transaction, the director now directly owns 24,559 shares of the company’s stock, valued at $1,193,812.99. This represents a 2.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Fady Ibraham Malik sold 7,300 shares of Cytokinetics stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $50.64, for a total value of $369,672.00. Following the completion of the sale, the executive vice president now directly owns 116,071 shares in the company, valued at $5,877,835.44. This represents a 5.92 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,822 shares of company stock valued at $874,048. 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.