Insider Selling: Cytokinetics (NASDAQ:CYTK) Director Sells $72,130.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director Robert Landry sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $72.13, for a total transaction of $72,130.00. Following the completion of the transaction, the director owned 8,184 shares of the company’s stock, valued at $590,311.92. This trade represents a 10.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cytokinetics Stock Performance

CYTK stock opened at $69.92 on Friday. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of -9.68 and a beta of 0.36. The stock’s fifty day moving average is $76.83 and its two-hundred day moving average is $72.90. 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) earnings per share (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 analyst estimates of $17.59 million. During the same period in the prior year, the company posted ($1.12) EPS. The firm’s quarterly revenue was down 57.1% compared to the same quarter last year. As a group, analysts predict that Cytokinetics, Incorporated will post -5.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. JPMorgan Chase & Co. lifted 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. Citizens Jmp upped their price objective on Cytokinetics from $105.00 to $110.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. UBS Group upgraded Cytokinetics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $69.00 to $115.00 in a report on Monday, June 29th. Wall Street Zen cut Cytokinetics from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Finally, Morgan Stanley raised Cytokinetics from an “overweight” rating to a “buy” rating in a research report on Tuesday, September 1st. Eighteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Cytokinetics has an average rating of “Moderate Buy” and an average price target of $103.37.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC bought a new position in Cytokinetics during the second quarter valued at $36,000. Rockefeller Capital Management L.P. raised its stake in shares of Cytokinetics by 842.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 641 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 573 shares during the period. Clearstead Advisors LLC raised its stake in shares of Cytokinetics by 97.1% in the fourth quarter. Clearstead Advisors LLC now owns 670 shares of the biopharmaceutical company’s stock valued at $43,000 after buying an additional 330 shares during the period. Western Wealth Management LLC purchased a new position in shares of Cytokinetics during the 1st quarter valued at $53,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Cytokinetics by 55.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,548 shares of the biopharmaceutical company’s stock worth $102,000 after acquiring an additional 549 shares during the period.

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.