ProShare Advisors LLC Sells 2,600 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

ProShare Advisors LLC decreased its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 8.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,567 shares of the biopharmaceutical company’s stock after selling 2,600 shares during the period. ProShare Advisors LLC’s holdings in Cytokinetics were worth $1,439,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Cytokinetics by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 11,016,889 shares of the biopharmaceutical company’s stock valued at $919,800,000 after acquiring an additional 273,565 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Cytokinetics during the 1st quarter worth approximately $51,277,000. Hood River Capital Management LLC grew its position in shares of Cytokinetics by 24.2% during the 1st quarter. Hood River Capital Management LLC now owns 696,647 shares of the biopharmaceutical company’s stock worth $48,842,000 after purchasing an additional 135,666 shares in the last quarter. Fisher Asset Management LLC bought a new position in shares of Cytokinetics during the fourth quarter worth approximately $44,754,000. Finally, Renaissance Technologies LLC raised its position in shares of Cytokinetics by 28.7% in the second quarter. Renaissance Technologies LLC now owns 470,967 shares of the biopharmaceutical company’s stock valued at $25,517,000 after buying an additional 105,000 shares in the last quarter.

Insiders Place Their Bets

In other news, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $57.03, for a total transaction of $285,150.00. Following the completion of the transaction, the chief executive officer now owns 397,456 shares of the company’s stock, valued at $22,666,915.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cytokinetics news, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $55.90, for a total value of $408,070.00. Following the sale, the executive vice president now owns 131,004 shares in the company, valued at approximately $7,323,123.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $57.03, for a total value of $285,150.00. Following the completion of the sale, the chief executive officer now directly owns 397,456 shares of the company’s stock, valued at approximately $22,666,915.68. The disclosure for this sale can be found here. Insiders have sold 100,537 shares of company stock valued at $5,626,227 in the last ninety days. 3.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. JMP Securities restated a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research report on Wednesday, September 4th. The Goldman Sachs Group cut shares of Cytokinetics from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $85.00 to $60.00 in a research report on Tuesday, August 13th. HC Wainwright reiterated a “buy” rating and set a $90.00 price objective on shares of Cytokinetics in a research note on Friday, September 20th. Finally, B. Riley dropped their target price on shares of Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cytokinetics currently has a consensus rating of “Moderate Buy” and an average price target of $80.67.

Cytokinetics Stock Down 0.6 %

Shares of NASDAQ:CYTK opened at $52.34 on Friday. Cytokinetics, Incorporated has a 52-week low of $25.98 and a 52-week high of $110.25. The company has a market capitalization of $6.16 billion, a PE ratio of -9.69 and a beta of 0.77. The company has a debt-to-equity ratio of 5.93, a quick ratio of 10.39 and a current ratio of 10.39. The company has a fifty day moving average of $55.80 and a 200-day moving average of $58.82.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The firm had revenue of $0.25 million during the quarter, compared to the consensus estimate of $7.61 million. During the same quarter in the prior year, the business posted ($1.34) EPS. The company’s revenue was down 71.3% on a year-over-year basis. On average, equities analysts predict that Cytokinetics, Incorporated will post -5.15 EPS for the current fiscal year.

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.