Cytokinetics (NASDAQ:CYTK) Director Robert Landry Sells 1,000 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director Robert Landry sold 1,000 shares of the company’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $74.66, for a total value of $74,660.00. Following the sale, the director directly owned 9,184 shares in the company, valued at $685,677.44. This represents a 9.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cytokinetics Trading Up 0.2%

Shares of NASDAQ CYTK opened at $73.77 on Friday. The stock has a market cap of $9.18 billion, a P/E ratio of -10.22 and a beta of 0.36. The business’s fifty day simple moving average is $78.05 and its 200-day simple moving average is $72.71. Cytokinetics, Incorporated has a 12-month low of $47.22 and a 12-month high of $88.31.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.50) EPS for the quarter, topping the consensus estimate of ($1.63) by $0.13. The company had revenue of $28.62 million for the quarter, compared to analyst estimates of $17.59 million. The company’s revenue for the quarter was down 57.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.12) earnings per share. On average, equities analysts forecast that Cytokinetics, Incorporated will post -5.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Cytokinetics

Several institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System lifted its position in Cytokinetics by 7,880.8% in the second quarter. California State Teachers Retirement System now owns 10,901,679 shares of the biopharmaceutical company’s stock valued at $928,714,000 after acquiring an additional 10,765,080 shares during the last quarter. Woodline Partners LP grew its holdings in shares of Cytokinetics by 676.1% during the third quarter. Woodline Partners LP now owns 1,647,725 shares of the biopharmaceutical company’s stock worth $90,559,000 after purchasing an additional 1,435,422 shares during the last quarter. Norges Bank purchased a new position in shares of Cytokinetics during the fourth quarter worth about $51,281,000. Deep Track Capital LP increased its position in shares of Cytokinetics by 17.8% during the third quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company’s stock worth $236,328,000 after purchasing an additional 650,000 shares in the last quarter. Finally, Siren L.L.C. acquired a new stake in shares of Cytokinetics during the first quarter worth about $40,466,000.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Mizuho upped their target price on shares of Cytokinetics from $100.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 24th. Barclays boosted their price target on shares of Cytokinetics from $95.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. HC Wainwright reissued a “buy” rating and issued a $140.00 price objective on shares of Cytokinetics in a research report on Monday, August 31st. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a report on Friday. Finally, UBS Group raised shares of Cytokinetics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $69.00 to $115.00 in a research report on Monday, June 29th. Eighteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Cytokinetics presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.37.

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.