Cytokinetics (NASDAQ:CYTK) Director B Lynne Parshall Sells 5,000 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director B Lynne Parshall sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $64.73, for a total transaction of $323,650.00. Following the transaction, the director owned 22,933 shares in the company, valued at $1,484,453.09. The trade was a 17.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Cytokinetics Stock Performance

Shares of CYTK opened at $64.52 on Thursday. Cytokinetics, Incorporated has a one year low of $29.31 and a one year high of $67.98. The stock has a market cap of $7.89 billion, a P/E ratio of -12.92 and a beta of 0.58. The stock has a 50-day moving average of $57.89 and a two-hundred day moving average of $43.50.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, topping the consensus estimate of ($1.59) by $0.05. The business had revenue of $1.94 million during the quarter, compared to analyst estimates of $6.05 million. Cytokinetics’s quarterly revenue was up 318.1% compared to the same quarter last year. During the same quarter last year, the company posted ($1.36) EPS. Analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CYTK. EverSource Wealth Advisors LLC lifted its holdings in Cytokinetics by 723.7% in the second quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 673 shares during the period. Quarry LP purchased a new position in Cytokinetics during the third quarter worth about $30,000. Advisory Services Network LLC acquired a new stake in shares of Cytokinetics during the 3rd quarter worth $32,000. Johnson Financial Group Inc. acquired a new position in shares of Cytokinetics during the 3rd quarter valued at $40,000. Finally, Hantz Financial Services Inc. lifted its position in shares of Cytokinetics by 2,872.7% during the second quarter. Hantz Financial Services Inc. now owns 1,308 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 1,264 shares in the last quarter.

Analyst Ratings Changes

CYTK has been the subject of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cytokinetics in a research report on Wednesday, October 8th. Wall Street Zen lowered Cytokinetics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Evercore ISI lifted their target price on shares of Cytokinetics from $60.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 3rd. Needham & Company LLC restated a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a report on Tuesday, September 2nd. Finally, B. Riley reaffirmed a “buy” rating and issued a $90.00 price target (up previously from $80.00) on shares of Cytokinetics in a research report on Monday, November 10th. Thirteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.86.

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.