Cytokinetics (NASDAQ:CYTK) Director Sells 5,000 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) Director B Lynne Parshall sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $64.73, for a total value of $323,650.00. Following the sale, the director owned 22,933 shares in the company, valued at approximately $1,484,453.09. This represents a 17.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cytokinetics Stock Performance

CYTK traded down $1.37 during trading on Wednesday, reaching $64.79. 2,387,280 shares of the stock were exchanged, compared to its average volume of 1,918,766. The stock’s 50 day moving average price is $57.63 and its two-hundred day moving average price is $43.35. Cytokinetics, Incorporated has a twelve month low of $29.31 and a twelve month high of $67.98. The stock has a market cap of $7.92 billion, a P/E ratio of -12.70 and a beta of 0.58.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) EPS for the quarter, beating analysts’ consensus estimates of ($1.59) by $0.05. The firm had revenue of $1.94 million during the quarter, compared to the consensus estimate of $6.05 million. The business’s revenue was up 318.1% on a year-over-year basis. During the same period last year, the business earned ($1.36) EPS. Equities research analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Institutional Trading of Cytokinetics

Several hedge funds have recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. bought a new stake in Cytokinetics in the 3rd quarter valued at $261,000. Danske Bank A S acquired a new stake in shares of Cytokinetics during the third quarter worth $71,000. Advisory Services Network LLC bought a new stake in shares of Cytokinetics in the third quarter valued at about $32,000. Woodline Partners LP grew its stake in shares of Cytokinetics by 676.1% in the third quarter. Woodline Partners LP now owns 1,647,725 shares of the biopharmaceutical company’s stock valued at $90,559,000 after acquiring an additional 1,435,422 shares in the last quarter. Finally, PharVision Advisers LLC acquired a new position in shares of Cytokinetics in the third quarter valued at about $207,000.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CYTK. Needham & Company LLC reissued a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research report on Tuesday, September 2nd. Wall Street Zen downgraded Cytokinetics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research note on Tuesday, October 21st. Stifel Nicolaus raised their price target on Cytokinetics from $87.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Tuesday, September 2nd. Thirteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.86.

About Cytokinetics

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.