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

Cytokinetics, Incorporated (NASDAQ:CYTKGet Free Report) Director Robert Landry sold 1,000 shares of Cytokinetics 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 owned 8,184 shares in the company, valued at approximately $590,311.92. This trade represents a 10.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cytokinetics Trading Down 4.3%

Cytokinetics stock traded down $3.14 during mid-day trading on Tuesday, hitting $69.31. The stock had a trading volume of 2,576,604 shares, compared to its average volume of 2,121,944. Cytokinetics, Incorporated has a one year low of $47.22 and a one year high of $88.31. The firm has a market capitalization of $8.62 billion, a P/E ratio of -9.60 and a beta of 0.36. The firm’s 50 day moving average is $77.79 and its 200 day moving average is $72.75.

Cytokinetics (NASDAQ:CYTKGet Free Report) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.50) EPS for the quarter, beating analysts’ consensus estimates of ($1.63) by $0.13. The business had revenue of $28.62 million for the quarter, compared to the consensus estimate of $17.59 million. During the same period in the prior year, the business earned ($1.12) earnings per share. Cytokinetics’s revenue was down 57.1% compared to the same quarter last year. As a group, equities research analysts forecast that Cytokinetics, Incorporated will post -5.98 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a report on Friday. UBS Group upgraded Cytokinetics from a “neutral” rating to a “buy” rating and raised their price objective for the company from $69.00 to $115.00 in a research report on Monday, June 29th. Mizuho lifted their target price on Cytokinetics from $100.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, June 24th. Truist Financial lifted their target price on Cytokinetics from $106.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $140.00 target price on shares of Cytokinetics in a research report on Monday, August 31st. Eighteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.37.

View Our Latest Analysis on Cytokinetics

Institutional Investors Weigh In On Cytokinetics

Several large investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in Cytokinetics by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,056,017 shares of the biopharmaceutical company’s stock valued at $194,214,000 after purchasing an additional 15,815 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Cytokinetics by 11.9% in the 1st quarter. Principal Financial Group Inc. now owns 1,093,485 shares of the biopharmaceutical company’s stock worth $72,072,000 after buying an additional 116,593 shares during the last quarter. Frazier Life Sciences Management L.P. increased its holdings in shares of Cytokinetics by 5.0% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 934,642 shares of the biopharmaceutical company’s stock worth $59,387,000 after buying an additional 44,197 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Cytokinetics by 8.0% during the 4th quarter. Fisher Asset Management LLC now owns 822,885 shares of the biopharmaceutical company’s stock valued at $52,286,000 after buying an additional 61,298 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Cytokinetics during the 4th quarter valued at about $51,281,000.

About Cytokinetics

(Get Free Report)

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.

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