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

Cytokinetics, Incorporated (NASDAQ:CYTK) Director B. Parshall sold 5,000 shares of the company’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $54.73, for a total transaction of $273,650.00. Following the completion of the sale, the director directly owned 5,784 shares of the company’s stock, valued at $316,558.32. This trade represents a 46.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 1st, B. Parshall sold 5,000 shares of Cytokinetics stock. The stock was sold at an average price of $71.48, for a total transaction of $357,400.00.

Cytokinetics Stock Down 4.0%

Shares of NASDAQ:CYTK opened at $56.16 on Friday. The stock has a market cap of $7.82 billion, a PE ratio of -9.30 and a beta of 0.45. The company’s fifty day moving average is $64.47 and its 200 day moving average is $69.82. Cytokinetics, Incorporated has a 52 week low of $53.55 and a 52 week high of $88.31.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Wednesday, November 4th. The biopharmaceutical company reported ($1.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.43) by $0.06. The business had revenue of $47.56 million for the quarter, compared to analysts’ expectations of $41.88 million. The business’s quarterly revenue was up 2356.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($2.55) earnings per share. Sell-side analysts anticipate that Cytokinetics, Incorporated will post -5.85 EPS for the current year.

Hedge Funds Weigh In On Cytokinetics

Hedge funds and other institutional investors have recently modified their holdings of the company. Pictet Asset Management Holding SA grew its stake in shares of Cytokinetics by 18.4% in the third quarter. Pictet Asset Management Holding SA now owns 1,374,523 shares of the biopharmaceutical company’s stock worth $90,569,000 after purchasing an additional 214,060 shares during the last quarter. Principal Financial Group Inc. raised its position in Cytokinetics by 11.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,093,485 shares of the biopharmaceutical company’s stock valued at $72,072,000 after purchasing an additional 116,593 shares during the last quarter. GW&K Investment Management LLC raised its position in Cytokinetics by 11.1% during the 3rd quarter. GW&K Investment Management LLC now owns 1,017,714 shares of the biopharmaceutical company’s stock valued at $67,078,000 after purchasing an additional 101,607 shares during the last quarter. Fisher Asset Management LLC raised its position in Cytokinetics by 10.1% during the 3rd quarter. Fisher Asset Management LLC now owns 818,832 shares of the biopharmaceutical company’s stock valued at $53,969,000 after purchasing an additional 75,135 shares during the last quarter. Finally, ADAR1 Capital Management LLC lifted its holdings in Cytokinetics by 17.1% in the 1st quarter. ADAR1 Capital Management LLC now owns 632,556 shares of the biopharmaceutical company’s stock worth $41,692,000 after buying an additional 92,390 shares during the period.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Citizens Jmp increased their target price on Cytokinetics from $105.00 to $110.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. Truist Financial lifted their price target on Cytokinetics from $106.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. HC Wainwright reiterated a “buy” rating and issued a $140.00 price objective on shares of Cytokinetics in a research report on Monday, October 19th. Leerink Partners dropped their price objective on Cytokinetics from $103.00 to $100.00 and set an “outperform” rating for the company in a research note on Thursday, November 5th. Finally, UBS Group reissued a “buy” rating and set a $104.00 price objective on shares of Cytokinetics in a research note on Wednesday, October 14th. Nineteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Cytokinetics has a consensus rating of “Moderate Buy” and a consensus price target of $106.67.

Cytokinetics Company Profile

Cytokinetics is a biopharmaceutical company focused on discovering and developing medicines that target the biology of muscle function. Its research centers on therapies for conditions involving impaired cardiac muscle performance. The company’s work includes aficamten, a cardiac myosin inhibitor developed for hypertrophic cardiomyopathy, and other drug candidates designed to affect muscle contraction. Cytokinetics conducts research and clinical development through programs that may involve patients and collaborators in multiple countries.