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

Cytokinetics, Incorporated (NASDAQ:CYTK) Director Robert Landry sold 1,000 shares of the stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $72.13, for a total transaction of $72,130.00. Following the transaction, the director directly owned 8,184 shares in the company, valued at approximately $590,311.92. This represents a 10.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cytokinetics Stock Up 0.1%

Shares of NASDAQ:CYTK opened at $69.39 on Thursday. The stock has a market cap of $8.63 billion, a PE ratio of -9.61 and a beta of 0.36. The company’s fifty day moving average is $77.15 and its 200 day moving average is $72.85. Cytokinetics, Incorporated has a 52 week low of $47.22 and a 52 week high of $88.31.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.63) by $0.13. The business had revenue of $28.62 million for the quarter, compared to analysts’ expectations of $17.59 million. The business’s quarterly revenue was down 57.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.12) earnings per share. Sell-side analysts anticipate that Cytokinetics, Incorporated will post -5.98 EPS for the current year.

Institutional Investors Weigh In On Cytokinetics

Institutional investors and hedge funds have recently bought and sold shares of the business. Handelsbanken Fonder AB raised its holdings in Cytokinetics by 63.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 405,000 shares of the biopharmaceutical company’s stock worth $34,502,000 after purchasing an additional 157,700 shares in the last quarter. Royce & Associates LP lifted its position in shares of Cytokinetics by 44.3% in the 4th quarter. Royce & Associates LP now owns 144,426 shares of the biopharmaceutical company’s stock worth $9,177,000 after purchasing an additional 44,343 shares during the period. Norges Bank bought a new stake in shares of Cytokinetics during the 4th quarter valued at about $51,281,000. Profund Advisors LLC boosted its stake in shares of Cytokinetics by 52.9% during the 4th quarter. Profund Advisors LLC now owns 39,642 shares of the biopharmaceutical company’s stock valued at $2,519,000 after purchasing an additional 13,712 shares in the last quarter. Finally, Eventide Asset Management LLC increased its position in shares of Cytokinetics by 181.9% during the fourth quarter. Eventide Asset Management LLC now owns 479,611 shares of the biopharmaceutical company’s stock valued at $30,473,000 after buying an additional 309,503 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Morgan Stanley raised Cytokinetics from an “overweight” rating to a “buy” rating in a research note on Tuesday, September 1st. HC Wainwright restated a “buy” rating and issued a $140.00 target price on shares of Cytokinetics in a report on Monday, August 31st. Citizens Jmp lifted 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. Truist Financial upped their price target on shares of Cytokinetics from $106.00 to $112.00 and gave the company a “buy” rating in a report on Monday, August 10th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a research report on Friday, September 11th. Eighteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.37.

About Cytokinetics

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.