Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Sold by First Turn Management LLC

First Turn Management LLC reduced its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 31.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 293,318 shares of the biopharmaceutical company’s stock after selling 137,031 shares during the period. Cytokinetics comprises approximately 2.6% of First Turn Management LLC’s holdings, making the stock its 20th biggest position. First Turn Management LLC owned 0.28% of Cytokinetics worth $15,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CYTK. Westfield Capital Management Co. LP acquired a new position in Cytokinetics during the 1st quarter worth $51,277,000. Norges Bank acquired a new position in Cytokinetics during the 4th quarter worth $60,299,000. Fisher Asset Management LLC bought a new position in shares of Cytokinetics in the 4th quarter worth about $44,754,000. Iron Triangle Partners LP bought a new position in shares of Cytokinetics in the 1st quarter worth about $21,033,000. Finally, Sarissa Capital Management LP bought a new position in shares of Cytokinetics in the 1st quarter worth about $21,033,000.

Insider Transactions at Cytokinetics

In other news, Director B Lynne Parshall sold 5,000 shares of Cytokinetics stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $59.84, for a total value of $299,200.00. Following the transaction, the director now directly owns 20,600 shares of the company’s stock, valued at $1,232,704. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Fady Ibraham Malik sold 7,300 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $53.72, for a total transaction of $392,156.00. Following the transaction, the executive vice president now directly owns 133,004 shares of the company’s stock, valued at $7,144,974.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director B Lynne Parshall sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $59.84, for a total transaction of $299,200.00. Following the transaction, the director now directly owns 20,600 shares in the company, valued at $1,232,704. The disclosure for this sale can be found here. Insiders have sold a total of 135,337 shares of company stock valued at $7,464,633 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CYTK shares. Raymond James reduced their price target on shares of Cytokinetics from $92.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research report on Monday. B. Riley reduced their price target on shares of Cytokinetics from $122.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. 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. Finally, Needham & Company LLC restated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.67.

Cytokinetics Stock Performance

Shares of CYTK opened at $54.06 on Friday. The firm’s 50 day moving average is $56.22 and its 200-day moving average is $60.07. The stock has a market capitalization of $5.67 billion, a P/E ratio of -10.01 and a beta of 0.77. The company has a debt-to-equity ratio of 5.93, a current ratio of 10.39 and a quick ratio of 10.39. Cytokinetics, Incorporated has a 12-month low of $25.98 and a 12-month high of $110.25.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The firm had revenue of $0.25 million for the quarter, compared to the consensus estimate of $7.61 million. Cytokinetics’s revenue was down 71.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.34) earnings per share. Equities research analysts anticipate that Cytokinetics, Incorporated will post -5.1 EPS for the current fiscal year.

Cytokinetics 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.