Ontario Teachers Pension Plan Board Makes New $592,000 Investment in Cytokinetics, Incorporated (NASDAQ:CYTK)

Ontario Teachers Pension Plan Board acquired a new stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) during the third quarter, HoldingsChannel reports. The fund acquired 11,212 shares of the biopharmaceutical company’s stock, valued at approximately $592,000.

Other large investors also recently modified their holdings of the company. US Bancorp DE grew its stake in Cytokinetics by 67.2% during the first quarter. US Bancorp DE now owns 5,634 shares of the biopharmaceutical company’s stock valued at $395,000 after acquiring an additional 2,265 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Cytokinetics by 105.1% during 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. increased its holdings in Cytokinetics by 25,100.0% during the 1st quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 1,255 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Cytokinetics during the 1st quarter valued at about $2,103,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Cytokinetics during the 1st quarter worth $74,000.

Analysts Set New Price Targets

CYTK has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Mizuho increased their price target on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday. Royal Bank of Canada assumed coverage on Cytokinetics in a research note on Friday, November 8th. They issued an “outperform” rating and a $80.00 price target on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a research note on Wednesday, September 4th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Cytokinetics presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Cytokinetics Stock Performance

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 quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The firm has a 50-day moving average price of $53.74 and a 200 day moving average price of $54.92. The firm has a market capitalization of $5.63 billion, a PE ratio of -8.86 and a beta of 0.78.

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 analysts’ consensus estimates of ($1.27) by ($0.09). The firm had revenue of $0.46 million for the quarter, compared to analyst estimates of $1.21 million. Cytokinetics’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period last year, the business earned ($1.35) earnings per share. On average, sell-side analysts anticipate that Cytokinetics, Incorporated will post -5.31 earnings per share for the current fiscal year.

Insider Activity

In other Cytokinetics news, Director Wendall Wierenga sold 4,452 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 24,559 shares of the company’s stock, valued at approximately $1,283,207.75. This represents a 15.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Fady Ibraham Malik sold 7,384 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $57.01, for a total transaction of $420,961.84. Following the sale, the executive vice president now owns 122,920 shares in the company, valued at $7,007,669.20. This trade represents a 5.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,078 shares of company stock worth $3,514,119. Corporate insiders own 3.40% of the company’s stock.

Cytokinetics Company 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.