Robert Landry Sells 1,000 Shares of Cytokinetics (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director Robert Landry sold 1,000 shares of the company’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $74.66, for a total transaction of $74,660.00. Following the completion of the sale, the director directly owned 9,184 shares of the company’s stock, valued at approximately $685,677.44. This trade represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cytokinetics Stock Up 0.2%

CYTK stock traded up $0.15 during trading on Friday, hitting $73.77. 1,721,502 shares of the company’s stock traded hands, compared to its average volume of 1,643,355. The business has a fifty day simple moving average of $78.05 and a two-hundred day simple moving average of $72.71. The firm has a market capitalization of $9.18 billion, a P/E ratio of -10.22 and a beta of 0.36. Cytokinetics, Incorporated has a 1 year low of $47.22 and a 1 year high of $88.31.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.50) EPS for the quarter, topping the consensus estimate of ($1.63) by $0.13. The firm had revenue of $28.62 million for the quarter, compared to the consensus estimate of $17.59 million. During the same quarter last year, the firm earned ($1.12) EPS. The company’s revenue was down 57.1% compared to the same quarter last year. On average, equities research analysts predict that Cytokinetics, Incorporated will post -5.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CYTK. EverSource Wealth Advisors LLC boosted its holdings in shares of Cytokinetics by 723.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 673 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new position in Cytokinetics during the fourth quarter worth approximately $27,000. Kestra Advisory Services LLC acquired a new position in Cytokinetics during the fourth quarter worth $29,000. Quarry LP purchased a new position in shares of Cytokinetics during the 3rd quarter worth $30,000. Finally, Advisory Services Network LLC acquired a new position in shares of Cytokinetics during the 3rd quarter valued at about $32,000.

Analyst Ratings Changes

Several analysts recently commented on the company. Citizens Jmp raised their target price on Cytokinetics from $105.00 to $110.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th. Wall Street Zen cut shares of Cytokinetics from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytokinetics in a research report on Friday, July 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a report on Friday. Finally, JPMorgan Chase & Co. increased their price target on Cytokinetics from $97.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Eighteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Cytokinetics currently has an average rating of “Moderate Buy” and a consensus price target of $103.37.

Cytokinetics Company Profile

Cytokinetics, Incorporated is a biopharmaceutical company focused on discovering and developing medicines that target the biology of muscle function. The company applies expertise in muscle physiology and contractility to develop potential treatments for cardiovascular and neuromuscular diseases.

Its leading programs include aficamten, an investigational cardiac myosin inhibitor being developed for conditions involving abnormal heart-muscle contraction, including hypertrophic cardiomyopathy.