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

Cytokinetics, Incorporated (NASDAQ:CYTK) Director B Lynne Parshall sold 5,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $54.22, for a total transaction of $271,100.00. Following the transaction, the director now directly owns 20,600 shares of the company’s stock, valued at approximately $1,116,932. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, June 17th, B Lynne Parshall sold 5,000 shares of Cytokinetics stock. The stock was sold at an average price of $52.55, for a total transaction of $262,750.00.

Cytokinetics Price Performance

NASDAQ:CYTK opened at $54.70 on Tuesday. Cytokinetics, Incorporated has a one year low of $25.98 and a one year high of $110.25. The company has a market cap of $5.74 billion, a PE ratio of -10.13 and a beta of 0.75. The firm has a 50-day moving average of $56.54 and a 200-day moving average of $67.37.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.17). The business had revenue of $0.84 million during the quarter, compared to analysts’ expectations of $0.91 million. During the same period in the prior year, the company earned ($1.38) earnings per share. The business’s quarterly revenue was down 81.8% on a year-over-year basis. On average, equities research analysts expect that Cytokinetics, Incorporated will post -4.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CYTK has been the subject of a number of analyst reports. Barclays lowered their target price on shares of Cytokinetics from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. B. Riley lowered their target price on shares of Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, June 4th. HC Wainwright reissued a “buy” rating and set a $90.00 target price on shares of Cytokinetics in a research note on Monday, June 17th. JPMorgan Chase & Co. lowered their target price on shares of Cytokinetics from $77.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. Finally, JMP Securities lowered their target price on shares of Cytokinetics from $106.00 to $78.00 and set a “market outperform” rating for the company in a research note on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Cytokinetics presently has a consensus rating of “Moderate Buy” and an average price target of $77.06.

Institutional Investors Weigh In On Cytokinetics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cetera Advisors LLC purchased a new stake in Cytokinetics in the 1st quarter valued at $531,000. Zimmer Partners LP purchased a new stake in Cytokinetics in the 1st quarter valued at $2,706,000. Comerica Bank raised its position in Cytokinetics by 185.4% in the 1st quarter. Comerica Bank now owns 130,806 shares of the biopharmaceutical company’s stock valued at $9,171,000 after buying an additional 84,967 shares during the last quarter. Castleark Management LLC purchased a new stake in Cytokinetics in the 1st quarter valued at $1,471,000. Finally, Murchinson Ltd. raised its position in Cytokinetics by 56.7% in the 1st quarter. Murchinson Ltd. now owns 108,795 shares of the biopharmaceutical company’s stock valued at $7,628,000 after buying an additional 39,356 shares during the last quarter.

Cytokinetics Company Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.