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

Cytokinetics, Incorporated (NASDAQ:CYTK) Director B. Parshall sold 5,000 shares of the stock in a transaction on Monday, November 9th. The stock was sold at an average price of $54.73, for a total value of $273,650.00. Following the transaction, the director owned 5,784 shares of the company’s stock, valued at $316,558.32. This represents a 46.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Trading Down 4.1%

CYTK stock traded down $2.40 during trading on Thursday, hitting $56.13. 2,008,636 shares of the stock traded hands, compared to its average volume of 2,124,186. Cytokinetics, Incorporated has a one year low of $53.55 and a one year high of $88.31. The stock has a market cap of $7.82 billion, a price-to-earnings ratio of -9.29 and a beta of 0.45. The company has a 50 day simple moving average of $64.78 and a 200 day simple moving average of $69.86.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Wednesday, November 4th. The biopharmaceutical company reported ($1.37) earnings per share for the quarter, topping the consensus estimate of ($1.43) by $0.06. The firm had revenue of $47.56 million for the quarter, compared to the consensus estimate of $41.88 million. Cytokinetics’s quarterly revenue was up 2356.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.55) earnings per share. As a group, analysts predict that Cytokinetics, Incorporated will post -5.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CYTK has been the topic of several research analyst reports. UBS Group restated a “buy” rating and set a $104.00 target price on shares of Cytokinetics in a report on Wednesday, October 14th. Leerink Partners decreased their price objective on shares of Cytokinetics from $103.00 to $100.00 and set an “outperform” rating on the stock in a report on Thursday, November 5th. Royal Bank Of Canada raised their price objective on shares of Cytokinetics from $112.00 to $113.00 and gave the company an “outperform” rating in a research report on Thursday, October 8th. Citigroup raised their price objective on shares of Cytokinetics from $99.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. Finally, Citizens Jmp boosted their target price on shares of Cytokinetics from $105.00 to $110.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. 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 company. Based on data from MarketBeat.com, Cytokinetics presently has an average rating of “Moderate Buy” and an average target price of $106.67.

Institutional Investors Weigh In On Cytokinetics

Institutional investors and hedge funds have recently made changes to their positions in the company. Handelsbanken Fonder AB boosted its stake in Cytokinetics by 63.8% in the second quarter. Handelsbanken Fonder AB now owns 405,000 shares of the biopharmaceutical company’s stock valued at $34,502,000 after acquiring an additional 157,700 shares during the last quarter. Sanders Morris Harris LLC bought a new stake in shares of Cytokinetics during the 3rd quarter valued at $1,549,000. Great Lakes Advisors LLC bought a new stake in shares of Cytokinetics during the 2nd quarter valued at $1,960,000. Seven Fleet Capital Management LP raised its position in shares of Cytokinetics by 93.0% during the 2nd quarter. Seven Fleet Capital Management LP now owns 118,240 shares of the biopharmaceutical company’s stock valued at $10,073,000 after acquiring an additional 56,971 shares during the last quarter. Finally, Siren L.L.C. acquired a new position in shares of Cytokinetics in the 1st quarter valued at $40,466,000.

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.