Cytokinetics (NASDAQ:CYTK) PT Lowered to $95.00 at Barclays

Cytokinetics (NASDAQ:CYTK) had its price target lowered by Barclays from $100.00 to $95.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

Other equities analysts also recently issued research reports about the stock. Raymond James cut their price objective on shares of Cytokinetics from $92.00 to $70.00 and set an outperform rating on the stock in a report on Thursday. JMP Securities decreased their price target on shares of Cytokinetics from $110.00 to $106.00 and set a market outperform rating for the company in a report on Thursday, May 9th. Truist Financial reissued a buy rating and set a $86.00 price objective on shares of Cytokinetics in a report on Monday, April 8th. Oppenheimer cut their target price on Cytokinetics from $107.00 to $106.00 and set an outperform rating on the stock in a research report on Thursday, May 9th. Finally, Needham & Company LLC lowered their price target on Cytokinetics from $108.00 to $72.00 and set a buy rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $77.47.

Cytokinetics Trading Down 1.4 %

NASDAQ CYTK opened at $48.30 on Thursday. Cytokinetics has a 12-month low of $25.98 and a 12-month high of $110.25. The firm’s fifty day simple moving average is $65.80 and its two-hundred day simple moving average is $63.74. The firm has a market capitalization of $5.06 billion, a P/E ratio of -8.94 and a beta of 0.72.

Cytokinetics (NASDAQ:CYTK) last announced its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($1.16) by ($0.17). The company had revenue of $0.84 million during the quarter, compared to analysts’ expectations of $0.91 million. During the same quarter last year, the business posted ($1.38) EPS. Cytokinetics’s revenue was down 81.8% compared to the same quarter last year. As a group, sell-side analysts predict that Cytokinetics will post -4.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 32,605 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $74.31, for a total transaction of $2,422,877.55. Following the sale, the executive vice president now directly owns 138,567 shares in the company, valued at approximately $10,296,913.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director John T. Henderson sold 10,562 shares of Cytokinetics stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $64.54, for a total value of $681,671.48. Following the sale, the director now owns 32,070 shares of the company’s stock, valued at approximately $2,069,797.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Fady Ibraham Malik sold 32,605 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $74.31, for a total transaction of $2,422,877.55. Following the completion of the sale, the executive vice president now directly owns 138,567 shares of the company’s stock, valued at approximately $10,296,913.77. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,318 shares of company stock valued at $6,319,540. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Cytokinetics

Institutional investors and hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp raised its holdings in shares of Cytokinetics by 94.1% during the first quarter. Fifth Third Bancorp now owns 656 shares of the biopharmaceutical company’s stock valued at $46,000 after acquiring an additional 318 shares during the last quarter. GAMMA Investing LLC acquired a new position in Cytokinetics in the 4th quarter valued at $80,000. EntryPoint Capital LLC purchased a new position in Cytokinetics in the 1st quarter valued at $74,000. Bessemer Group Inc. boosted its stake in Cytokinetics by 25,100.0% during the 1st quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 1,255 shares during the last quarter. Finally, Sage Rhino Capital LLC acquired a new stake in Cytokinetics during the 4th quarter worth $204,000.

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.