Ontario Teachers Pension Plan Board Takes Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Ontario Teachers Pension Plan Board bought a new position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 11,212 shares of the biopharmaceutical company’s stock, valued at approximately $592,000.

A number of other hedge funds also recently added to or reduced their stakes in CYTK. Avior Wealth Management LLC boosted its holdings in Cytokinetics by 57.1% in the third quarter. Avior Wealth Management LLC now owns 3,999 shares of the biopharmaceutical company’s stock valued at $211,000 after purchasing an additional 1,454 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Cytokinetics in the 3rd quarter valued at $248,000. Pathstone Holdings LLC lifted its holdings in Cytokinetics by 17.0% during the 3rd quarter. Pathstone Holdings LLC now owns 34,560 shares of the biopharmaceutical company’s stock worth $1,825,000 after buying an additional 5,027 shares during the last quarter. Swiss National Bank boosted its holdings in Cytokinetics by 10.2% in the third quarter. Swiss National Bank now owns 215,500 shares of the biopharmaceutical company’s stock valued at $11,378,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Royce & Associates LP boosted its holdings in shares of Cytokinetics by 70.2% in the 3rd quarter. Royce & Associates LP now owns 24,250 shares of the biopharmaceutical company’s stock valued at $1,280,000 after buying an additional 10,000 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research note on Wednesday, September 4th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. Royal Bank of Canada began coverage on shares of Cytokinetics in a report on Friday, November 8th. They set an “outperform” rating and a $80.00 price objective on the stock. The Goldman Sachs Group cut shares of Cytokinetics from a “buy” rating to a “neutral” rating and dropped their target price for the company from $85.00 to $60.00 in a report on Tuesday, August 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Cytokinetics Trading Down 4.4 %

Shares of CYTK opened at $47.67 on Friday. Cytokinetics, Incorporated has a 52-week low of $30.68 and a 52-week high of $110.25. The company has a market cap of $5.63 billion, a price-to-earnings ratio of -8.86 and a beta of 0.78. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The stock has a fifty day moving average price of $53.74 and a two-hundred day moving average price of $54.92.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The firm had revenue of $0.46 million during the quarter, compared to analyst estimates of $1.21 million. The firm’s revenue was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.35) EPS. Analysts predict that Cytokinetics, Incorporated will post -5.31 EPS for the current fiscal year.

Insider Activity at Cytokinetics

In other news, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.03, for a total value of $285,150.00. Following the transaction, the chief executive officer now directly owns 397,456 shares of the company’s stock, valued at $22,666,915.68. The trade was a 1.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Fady Ibraham Malik sold 7,384 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $57.01, for a total value of $420,961.84. Following the transaction, the executive vice president now owns 122,920 shares in the company, valued at $7,007,669.20. The trade was a 5.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,078 shares of company stock worth $3,514,119. Insiders own 3.40% of the company’s stock.

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.