Cytokinetics (NASDAQ:CYTK) Director B Lynne Parshall Sells 5,000 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director B. Parshall sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $54.73, for a total transaction of $273,650.00. Following the completion of the sale, the director directly owned 5,784 shares of the company’s stock, valued at $316,558.32. The trade was a 46.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

B Lynne Parshall also recently made the following trade(s):

• On Tuesday, September 1st, B. Parshall sold 5,000 shares of Cytokinetics stock. The stock was sold at an average price of $71.48, for a total transaction of $357,400.00.

Cytokinetics Stock Down 4.1%

Cytokinetics stock traded down $2.40 during mid-day trading on Thursday, hitting $56.13. 2,008,636 shares of the company’s stock were exchanged, compared to its average volume of 2,124,186. The firm has a market capitalization of $7.82 billion, a P/E ratio of -9.29 and a beta of 0.45. Cytokinetics, Incorporated has a fifty-two week low of $53.55 and a fifty-two week high of $88.31. The company’s 50 day simple moving average is $64.78 and its 200-day simple moving average is $69.86.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Wednesday, November 4th. The biopharmaceutical company reported ($1.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.43) by $0.06. The business had revenue of $47.56 million for the quarter, compared to the consensus estimate of $41.88 million. Cytokinetics’s revenue for the quarter was up 2356.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.55) earnings per share. Research analysts expect that Cytokinetics, Incorporated will post -5.85 EPS for the current year.

Analyst Ratings Changes

CYTK has been the subject of several analyst reports. Royal Bank Of Canada raised their target price on shares of Cytokinetics from $112.00 to $113.00 and gave the company an “outperform” rating in a research note on Thursday, October 8th. Leerink Partners cut their price target on shares of Cytokinetics from $103.00 to $100.00 and set an “outperform” rating for the company in a research note on Thursday, November 5th. William Blair initiated coverage on shares of Cytokinetics in a research report on Friday, October 16th. They issued an “outperform” rating for the company. Morgan Stanley upgraded shares of Cytokinetics from an “overweight” rating to a “buy” rating in a research note on Tuesday, September 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Cytokinetics from $97.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Nineteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $106.67.

Institutional Investors Weigh In On Cytokinetics

Several institutional investors have recently made changes to their positions in CYTK. Pictet Asset Management Holding SA grew its holdings in shares of Cytokinetics by 18.4% during the 3rd quarter. Pictet Asset Management Holding SA now owns 1,374,523 shares of the biopharmaceutical company’s stock worth $90,569,000 after purchasing an additional 214,060 shares in the last quarter. Principal Financial Group Inc. raised its stake in Cytokinetics by 11.9% in the first quarter. Principal Financial Group Inc. now owns 1,093,485 shares of the biopharmaceutical company’s stock valued at $72,072,000 after purchasing an additional 116,593 shares in the last quarter. GW&K Investment Management LLC raised its stake in Cytokinetics by 11.1% in the third quarter. GW&K Investment Management LLC now owns 1,017,714 shares of the biopharmaceutical company’s stock valued at $67,078,000 after purchasing an additional 101,607 shares in the last quarter. Fisher Asset Management LLC lifted its position in Cytokinetics by 10.1% during the third quarter. Fisher Asset Management LLC now owns 818,832 shares of the biopharmaceutical company’s stock worth $53,969,000 after purchasing an additional 75,135 shares during the period. Finally, ADAR1 Capital Management LLC lifted its position in Cytokinetics by 17.1% during the first quarter. ADAR1 Capital Management LLC now owns 632,556 shares of the biopharmaceutical company’s stock worth $41,692,000 after purchasing an additional 92,390 shares during the period.

Cytokinetics Company Profile

Cytokinetics is a biopharmaceutical company focused on discovering and developing medicines that target the biology of muscle function. Its research centers on therapies for conditions involving impaired cardiac muscle performance. The company’s work includes aficamten, a cardiac myosin inhibitor developed for hypertrophic cardiomyopathy, and other drug candidates designed to affect muscle contraction. Cytokinetics conducts research and clinical development through programs that may involve patients and collaborators in multiple countries.