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

Cytokinetics, Incorporated (NASDAQ:CYTK) Director Robert Landry sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $74.66, for a total transaction of $74,660.00. Following the completion of the sale, the director owned 9,184 shares of the company’s stock, valued at approximately $685,677.44. The trade was a 9.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cytokinetics Stock Performance

Shares of Cytokinetics stock opened at $73.77 on Friday. Cytokinetics, Incorporated has a 52-week low of $47.22 and a 52-week high of $88.31. The company has a fifty day moving average of $78.05 and a 200-day moving average of $72.71. The stock has a market capitalization of $9.18 billion, a price-to-earnings ratio of -10.22 and a beta of 0.36.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.50) EPS for the quarter, topping analysts’ consensus estimates of ($1.63) by $0.13. The business had revenue of $28.62 million during the quarter, compared to analysts’ expectations of $17.59 million. During the same quarter in the previous year, the business earned ($1.12) EPS. Cytokinetics’s revenue for the quarter was down 57.1% compared to the same quarter last year. On average, equities research analysts forecast that Cytokinetics, Incorporated will post -5.98 earnings per share for the current fiscal year.

Institutional Trading of Cytokinetics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CYTK. EverSource Wealth Advisors LLC increased its position in Cytokinetics by 723.7% during 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 during the period. Kemnay Advisory Services Inc. bought a new stake in shares of Cytokinetics during the 4th quarter valued at about $27,000. Kestra Advisory Services LLC bought a new stake in shares of Cytokinetics during the 4th quarter valued at about $29,000. Quarry LP purchased a new position in shares of Cytokinetics during the third quarter valued at about $30,000. Finally, Advisory Services Network LLC purchased a new position in shares of Cytokinetics during the third quarter valued at about $32,000.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CYTK. Barclays lifted their price target on Cytokinetics from $95.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Royal Bank Of Canada cut their target price on shares of Cytokinetics from $117.00 to $112.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. Mizuho raised their target price on shares of Cytokinetics from $100.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, June 24th. Wall Street Zen downgraded shares of Cytokinetics from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Finally, Citizens Jmp upped their price target on shares of Cytokinetics from $105.00 to $110.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. Eighteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.37.

Cytokinetics Company Profile

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.