Los Angeles Capital Management LLC Trims Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Los Angeles Capital Management LLC cut its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 64.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,219 shares of the biopharmaceutical company’s stock after selling 9,408 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Cytokinetics were worth $276,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Sei Investments Co. boosted its stake in Cytokinetics by 20.1% during the first quarter. Sei Investments Co. now owns 58,314 shares of the biopharmaceutical company’s stock valued at $4,088,000 after buying an additional 9,779 shares during the period. US Bancorp DE increased its position in shares of Cytokinetics by 67.2% in the first quarter. US Bancorp DE now owns 5,634 shares of the biopharmaceutical company’s stock worth $395,000 after purchasing an additional 2,265 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Cytokinetics by 105.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 5,028 shares of the biopharmaceutical company’s stock worth $353,000 after purchasing an additional 2,577 shares during the last quarter. Bessemer Group Inc. raised its stake in Cytokinetics by 25,100.0% in the first quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 1,255 shares in the last quarter. Finally, American International Group Inc. lifted its position in Cytokinetics by 245.9% during the first quarter. American International Group Inc. now owns 176,072 shares of the biopharmaceutical company’s stock valued at $12,344,000 after purchasing an additional 125,172 shares during the last quarter.

Cytokinetics Stock Up 3.4 %

NASDAQ CYTK opened at $51.94 on Tuesday. Cytokinetics, Incorporated has a 1 year low of $30.68 and a 1 year high of $110.25. The stock has a market capitalization of $6.13 billion, a PE ratio of -9.65 and a beta of 0.78. 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 business’s 50-day moving average is $54.00 and its 200 day moving average is $55.11.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The firm had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $1.21 million. The business’s revenue was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.35) EPS. Sell-side analysts forecast that Cytokinetics, Incorporated will post -4.32 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CYTK shares. JMP Securities restated a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research report on Wednesday, September 4th. The Goldman Sachs Group cut Cytokinetics from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $85.00 to $60.00 in a report on Tuesday, August 13th. Needham & Company LLC reissued a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a report on Thursday, October 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. Finally, Royal Bank of Canada began coverage on shares of Cytokinetics in a research note on Friday, November 8th. They set an “outperform” rating and a $80.00 price target on the stock. One 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.67.

Insider Activity at Cytokinetics

In related news, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $57.03, for a total transaction of $285,150.00. Following the sale, the chief executive officer now directly owns 397,456 shares in the company, valued at $22,666,915.68. The trade was a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Wendall Wierenga sold 4,452 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $52.25, for a total value of $232,617.00. Following the transaction, the director now directly owns 24,559 shares of the company’s stock, valued at $1,283,207.75. This represents a 15.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,078 shares of company stock worth $3,261,369 over the last quarter. Corporate 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.