California Public Employees Retirement System maintained its position in Cytokinetics, Incorporated (NASDAQ:CYTK) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,675 shares of the biopharmaceutical company’s stock at the end of the first quarter. California Public Employees Retirement System’s holdings in Cytokinetics, were worth $1,062,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its position in Cytokinetics, by 8.8% in the first quarter. FMR LLC now owns 5,655,916 shares of the biopharmaceutical company’s stock valued at $72,679,000 after buying an additional 456,502 shares in the last quarter. Acadian Asset Management LLC bought a new position in Cytokinetics, during the first quarter valued at approximately $4,302,000. Oxford Asset Management bought a new position in Cytokinetics, during the first quarter valued at approximately $2,491,000. Russell Investments Group Ltd. bought a new position in Cytokinetics, during the first quarter valued at approximately $2,137,000. Finally, Sphera Funds Management LTD. bought a new position in Cytokinetics, during the first quarter valued at approximately $1,956,000. Institutional investors own 59.76% of the company’s stock.

Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) traded up 1.25% during mid-day trading on Friday, reaching $12.15. 629,882 shares of the company’s stock traded hands. The stock’s market capitalization is $652.04 million. The company’s 50-day moving average price is $13.43 and its 200-day moving average price is $13.03. Cytokinetics, Incorporated has a 12-month low of $8.51 and a 12-month high of $17.20.

Cytokinetics, (NASDAQ:CYTK) last posted its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.57) by $0.03. The firm had revenue of $3.05 million during the quarter, compared to analysts’ expectations of $5.28 million. Cytokinetics, had a negative net margin of 16.00% and a negative return on equity of 14.15%. Analysts anticipate that Cytokinetics, Incorporated will post ($2.08) earnings per share for the current year.

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Several research analysts recently commented on CYTK shares. Zacks Investment Research lowered Cytokinetics, from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 4th. HC Wainwright set a $26.00 price target on Cytokinetics, and gave the stock a “buy” rating in a research report on Thursday, August 3rd. ValuEngine upgraded Cytokinetics, from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub raised shares of Cytokinetics, from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Cowen and Company reissued a “buy” rating and issued a $19.00 price objective on shares of Cytokinetics, in a research note on Friday, August 4th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $21.30.

In other Cytokinetics, news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $12.14, for a total transaction of $60,700.00. Following the sale, the chief executive officer now directly owns 88,385 shares in the company, valued at approximately $1,072,993.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Caryn Gordon Mcdowell sold 11,348 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $12.47, for a total transaction of $141,509.56. Following the sale, the insider now owns 21,570 shares in the company, valued at $268,977.90. The disclosure for this sale can be found here. Insiders have sold a total of 26,348 shares of company stock valued at $339,260 in the last ninety days. 7.20% of the stock is currently owned by corporate insiders.

Cytokinetics, Company Profile

Cytokinetics, Incorporated is a late-stage biopharmaceutical company. The Company is focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions.

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Institutional Ownership by Quarter for Cytokinetics, (NASDAQ:CYTK)

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