Cytokinetics, Incorporated (NASDAQ:CYTK) Director Sells $271,100.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director B Lynne Parshall sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $54.22, for a total value of $271,100.00. Following the completion of the transaction, the director now owns 20,600 shares of the company’s stock, valued at approximately $1,116,932. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, June 17th, B Lynne Parshall sold 5,000 shares of Cytokinetics stock. The shares were sold at an average price of $52.55, for a total value of $262,750.00.

Cytokinetics Trading Down 0.8 %

NASDAQ CYTK opened at $54.40 on Thursday. Cytokinetics, Incorporated has a 1-year low of $25.98 and a 1-year high of $110.25. The company has a 50 day moving average of $56.07 and a 200-day moving average of $67.41. The company has a market cap of $5.70 billion, a price-to-earnings ratio of -10.07 and a beta of 0.75.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.17). The firm had revenue of $0.84 million for the quarter, compared to the consensus estimate of $0.91 million. During the same period last year, the firm posted ($1.38) EPS. The company’s quarterly revenue was down 81.8% compared to the same quarter last year. On average, equities research analysts forecast that Cytokinetics, Incorporated will post -4.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CYTK. JPMorgan Chase & Co. cut their target price on shares of Cytokinetics from $77.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. Mizuho cut their target price on shares of Cytokinetics from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, March 6th. Raymond James cut their target price on shares of Cytokinetics from $92.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Truist Financial cut their target price on shares of Cytokinetics from $86.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th. Finally, Needham & Company LLC cut their target price on shares of Cytokinetics from $108.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Cytokinetics has an average rating of “Moderate Buy” and a consensus price target of $77.06.

Institutional Investors Weigh In On Cytokinetics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. acquired a new stake in shares of Cytokinetics in the fourth quarter valued at approximately $46,308,000. Vanguard Group Inc. raised its position in shares of Cytokinetics by 4.6% in the third quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company’s stock valued at $316,498,000 after buying an additional 472,595 shares in the last quarter. HealthInvest Partners AB bought a new position in Cytokinetics in the fourth quarter valued at approximately $980,000. Legato Capital Management LLC bought a new position in Cytokinetics in the fourth quarter valued at approximately $1,305,000. Finally, Vestal Point Capital LP bought a new position in Cytokinetics in the fourth quarter valued at approximately $4,174,000.

Cytokinetics Company Profile

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.