Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) Director Sells 5,000 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director B Lynne Parshall sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $55.20, for a total value of $276,000.00. Following the sale, the director now directly owns 20,600 shares in the company, valued at approximately $1,137,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, July 29th, B Lynne Parshall sold 5,000 shares of Cytokinetics stock. The shares were sold at an average price of $59.84, for a total value of $299,200.00.
• On Monday, July 15th, B Lynne Parshall sold 5,000 shares of Cytokinetics stock. The shares were sold at an average price of $55.82, for a total value of $279,100.00.
• On Monday, July 1st, B Lynne Parshall sold 5,000 shares of Cytokinetics stock. The stock was sold at an average price of $54.22, for a total value of $271,100.00.
• 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 transaction of $262,750.00.

Cytokinetics Stock Up 0.7 %

Shares of CYTK traded up $0.39 during mid-day trading on Monday, hitting $56.18. 946,398 shares of the company’s stock were exchanged, compared to its average volume of 2,446,054. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of -10.33 and a beta of 0.75. The firm has a fifty day moving average of $54.83 and a two-hundred day moving average of $63.66. Cytokinetics, Incorporated has a twelve month low of $25.98 and a twelve month high of $110.25.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.25). The business had revenue of $0.25 million during the quarter, compared to the consensus estimate of $7.61 million. Cytokinetics’s revenue was down 71.3% on a year-over-year basis. During the same period in the prior year, the company earned ($1.34) earnings per share. On average, equities analysts predict that Cytokinetics, Incorporated will post -4.5 earnings per share for the current year.

Hedge Funds Weigh In On Cytokinetics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HealthInvest Partners AB acquired a new stake in shares of Cytokinetics in the fourth quarter worth $980,000. Vestal Point Capital LP bought a new stake in Cytokinetics during the fourth quarter valued at about $4,174,000. Victory Capital Management Inc. boosted its holdings in Cytokinetics by 1,040.4% during the fourth quarter. Victory Capital Management Inc. now owns 191,654 shares of the biopharmaceutical company’s stock valued at $16,001,000 after acquiring an additional 174,848 shares during the period. State of Michigan Retirement System acquired a new stake in shares of Cytokinetics in the first quarter valued at about $1,690,000. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Cytokinetics during the 4th quarter worth about $4,099,000.

Wall Street Analyst Weigh In

CYTK has been the subject of several recent research reports. 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. HC Wainwright reissued a “buy” rating and set a $90.00 price objective on shares of Cytokinetics in a research note on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a report on Friday. Oppenheimer decreased their price target on Cytokinetics from $107.00 to $106.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Finally, Barclays reduced their price target on shares of Cytokinetics from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.06.

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.