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

Cytokinetics, Incorporated (NASDAQ:CYTK) Director B Lynne Parshall sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $74.08, for a total transaction of $370,400.00. Following the sale, the director directly owned 15,784 shares in the company, valued at $1,169,278.72. The trade was a 24.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cytokinetics Stock Performance

Cytokinetics stock opened at $70.91 on Wednesday. The company’s fifty day moving average price is $69.17 and its 200 day moving average price is $65.80. Cytokinetics, Incorporated has a 1 year low of $30.81 and a 1 year high of $80.20. The stock has a market capitalization of $8.82 billion, a P/E ratio of -10.37 and a beta of 0.42.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($1.67). The company had revenue of $19.36 million during the quarter, compared to analyst estimates of $8.52 million. During the same period in the prior year, the business posted ($1.36) EPS. Cytokinetics’s revenue was up 1112.5% compared to the same quarter last year. Sell-side analysts predict that Cytokinetics, Incorporated will post -6.27 EPS for the current year.

Analyst Upgrades and Downgrades

CYTK has been the topic of a number of research analyst reports. HC Wainwright lifted their price target on shares of Cytokinetics from $136.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Citizens Jmp lifted their price target on shares of Cytokinetics from $88.00 to $96.00 and gave the company a “market outperform” rating in a research note on Wednesday, February 25th. Stifel Nicolaus lifted their price target on shares of Cytokinetics from $98.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Cytokinetics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cytokinetics in a research note on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.30.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in Cytokinetics by 723.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 673 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new position in Cytokinetics in the 4th quarter valued at $27,000. Kestra Advisory Services LLC purchased a new position in Cytokinetics in the 4th quarter valued at $29,000. Quarry LP purchased a new position in Cytokinetics in the 3rd quarter valued at $30,000. Finally, TD Waterhouse Canada Inc. purchased a new position in Cytokinetics in the 4th quarter valued at $32,000.

About Cytokinetics

Cytokinetics, Inc is a late?stage biopharmaceutical company focused on the discovery and development of novel small?molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.