American International Group Inc. Has $268,000 Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

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 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of CYTK. Parametric Portfolio Associates LLC increased its position in Cytokinetics, by 1.4% in the first quarter. Parametric Portfolio Associates LLC now owns 13,333 shares of the biopharmaceutical company’s stock worth $171,000 after buying an additional 189 shares during the period. Teachers Advisors LLC increased its position 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 during the last quarter. Wells Fargo & Company MN increased its position in Cytokinetics, by 46.9% in the first quarter. Wells Fargo & Company MN now owns 39,308 shares of the biopharmaceutical company’s stock valued at $505,000 after buying an additional 12,542 shares during the last quarter. Alambic Investment Management L.P. increased its position 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 during the last quarter. Finally, Capital Fund Management S.A. acquired a new position in Cytokinetics, during the first quarter valued at approximately $213,000. 56.50% of the stock is currently owned by institutional investors and hedge funds.

Shares of Cytokinetics, Incorporated (CYTK) traded up 0.40% on Friday, reaching $12.50. 930,981 shares of the company’s stock were exchanged. Cytokinetics, Incorporated has a 12 month low of $8.51 and a 12 month high of $17.20. The firm’s 50-day moving average price is $13.29 and its 200 day moving average price is $13.11. The company’s market cap is $670.83 million.

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

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Several research firms have commented on CYTK. Zacks Investment Research downgraded shares of Cytokinetics, from a “buy” rating to a “hold” rating in a research report on Thursday. Cowen and Company reissued a “buy” rating and set a $19.00 target price on shares of Cytokinetics, in a research report on Friday, August 4th. HC Wainwright set a $26.00 target price on shares of Cytokinetics, and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Morgan Stanley began coverage on shares of Cytokinetics, in a report on Monday, July 31st. They set an “overweight” rating and a $24.00 price target for the company. Finally, BidaskClub upgraded shares of Cytokinetics, from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $21.30.

In related news, insider Caryn Gordon Mcdowell sold 11,348 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $12.47, for a total value of $141,509.56. Following the transaction, the insider now owns 21,570 shares in the company, valued at approximately $268,977.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $12.14, for a total transaction of $60,700.00. Following the completion of the transaction, the chief executive officer now owns 88,385 shares in the company, valued at approximately $1,072,993.90. The disclosure for this sale can be found here. Insiders sold a total of 26,348 shares of company stock worth $339,260 over the last ninety days. Insiders own 7.20% of the company’s stock.

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.