Oak Ridge Investments LLC Sells 717 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Oak Ridge Investments LLC lowered its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 3.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 17,771 shares of the biopharmaceutical company’s stock after selling 717 shares during the period. Oak Ridge Investments LLC’s holdings in Cytokinetics were worth $938,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. State of Michigan Retirement System bought a new stake in Cytokinetics during the first quarter worth about $1,690,000. Entropy Technologies LP lifted its stake in shares of Cytokinetics by 110.6% in the first quarter. Entropy Technologies LP now owns 19,433 shares of the biopharmaceutical company’s stock worth $1,362,000 after buying an additional 10,205 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Cytokinetics in the first quarter worth approximately $4,703,000. Westfield Capital Management Co. LP bought a new position in shares of Cytokinetics in the first quarter worth approximately $51,277,000. Finally, Ghisallo Capital Management LLC bought a new position in shares of Cytokinetics in the second quarter worth approximately $10,619,000.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their target price on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. The Goldman Sachs Group cut shares of Cytokinetics from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $85.00 to $60.00 in a report on Tuesday, August 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.93.

Insider Activity at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $53.71, for a total transaction of $392,083.00. Following the completion of the transaction, the executive vice president now directly owns 121,704 shares of the company’s stock, valued at approximately $6,536,721.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $53.71, for a total transaction of $392,083.00. Following the completion of the transaction, the executive vice president now directly owns 121,704 shares of the company’s stock, valued at approximately $6,536,721.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $57.03, for a total value of $285,150.00. Following the completion of the sale, the chief executive officer now directly owns 397,456 shares of the company’s stock, valued at $22,666,915.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,536 shares of company stock valued at $3,934,877. Insiders own 3.40% of the company’s stock.

Cytokinetics Stock Performance

Shares of CYTK opened at $51.82 on Friday. The company has a quick ratio of 10.39, a current ratio of 10.39 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 52 week low of $30.68 and a 52 week high of $110.25. The business has a 50-day simple moving average of $54.29 and a two-hundred day simple moving average of $56.09. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of -9.65 and a beta of 0.77.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The company had revenue of $0.25 million during the quarter, compared to analysts’ expectations of $7.61 million. During the same period in the prior year, the company earned ($1.34) EPS. The company’s quarterly revenue was down 71.3% compared to the same quarter last year. On average, analysts expect that Cytokinetics, Incorporated will post -5.15 EPS for the current year.

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.