American International Group Inc. boosted its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 7.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,852 shares of the biopharmaceutical company’s stock after buying an additional 1,380 shares during the period. American International Group Inc. owned about 0.05% of Cytokinetics, worth $268,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the stock. Alambic Investment Management L.P. increased its stake in Cytokinetics, by 115.9% in the first quarter. Alambic Investment Management L.P. now owns 28,500 shares of the biopharmaceutical company’s stock valued at $366,000 after buying an additional 15,300 shares in the last quarter. Norges Bank purchased a new stake in Cytokinetics, during the fourth quarter valued at about $976,000. Capital Fund Management S.A. purchased a new stake in Cytokinetics, during the first quarter valued at about $213,000. Essex Investment Management Co. LLC purchased a new stake in Cytokinetics, during the first quarter valued at about $373,000. Finally, Teachers Advisors LLC increased its stake in Cytokinetics, by 4.0% in the fourth quarter. Teachers Advisors LLC now owns 53,278 shares of the biopharmaceutical company’s stock valued at $647,000 after buying an additional 2,025 shares in the last quarter. Hedge funds and other institutional investors own 58.57% of the company’s stock.
Shares of Cytokinetics, Incorporated (NASDAQ CYTK) opened at 14.40 on Tuesday. Cytokinetics, Incorporated has a one year low of $8.51 and a one year high of $17.20. The stock has a market cap of $649.20 million, a P/E ratio of 194.59 and a beta of 1.97. The firm’s 50-day moving average price is $13.66 and its 200 day moving average price is $12.88.
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Several equities research analysts recently issued reports on CYTK shares. HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective on shares of Cytokinetics, in a report on Tuesday, April 25th. Zacks Investment Research downgraded Cytokinetics, from a “hold” rating to a “strong sell” rating in a report on Thursday, May 4th. Cowen and Company reiterated an “outperform” rating and issued a $19.00 price objective (up previously from $17.00) on shares of Cytokinetics, in a report on Saturday, April 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics, in a report on Friday, May 19th. Finally, ValuEngine upgraded Cytokinetics, from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Cytokinetics, currently has an average rating of “Buy” and an average target price of $20.40.
In other news, CEO Robert I. Blum sold 5,000 shares of Cytokinetics, stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $13.62, for a total transaction of $68,100.00. Following the sale, the chief executive officer now directly owns 94,785 shares of the company’s stock, valued at $1,290,971.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 7.20% of the stock is currently owned by insiders.
About Cytokinetics,
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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