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

Cytokinetics, Incorporated (NASDAQ:CYTK) Director B Lynne Parshall sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $55.20, for a total value of $276,000.00. Following the transaction, the director now owns 20,600 shares in the company, valued at $1,137,120. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, July 29th, B Lynne Parshall sold 5,000 shares of Cytokinetics stock. The stock was sold at an average price of $59.84, for a total value of $299,200.00.
• On Monday, July 15th, B Lynne Parshall sold 5,000 shares of Cytokinetics stock. The stock was sold at an average price of $55.82, for a total value of $279,100.00.
• On Monday, July 1st, B Lynne Parshall sold 5,000 shares of Cytokinetics stock. The shares were sold at an average price of $54.22, for a total transaction of $271,100.00.
• 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 Stock Performance

CYTK stock traded up $0.39 during mid-day trading on Monday, reaching $56.18. The company had a trading volume of 946,398 shares, compared to its average volume of 2,446,054. Cytokinetics, Incorporated has a fifty-two week low of $25.98 and a fifty-two week high of $110.25. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of -10.33 and a beta of 0.75. The firm has a fifty day simple moving average of $54.83 and a 200 day simple moving average of $63.66.

Cytokinetics (NASDAQ:CYTK) last issued its 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 company had revenue of $0.25 million for the quarter, compared to analysts’ expectations of $7.61 million. The firm’s quarterly revenue was down 71.3% compared to the same quarter last year. During the same quarter last year, the business posted ($1.34) earnings per share. As a group, analysts predict that Cytokinetics, Incorporated will post -4.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CYTK. Oppenheimer decreased their price objective on Cytokinetics from $107.00 to $106.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Barclays lowered their price target on Cytokinetics from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. HC Wainwright restated a “buy” rating and issued a $90.00 price objective on shares of Cytokinetics in a report on Monday. 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. Finally, 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 note on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.06.

Institutional Investors Weigh In On Cytokinetics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. HealthInvest Partners AB purchased a new stake in shares of Cytokinetics during the 4th quarter worth approximately $980,000. Vestal Point Capital LP acquired a new position in Cytokinetics in the fourth quarter valued at $4,174,000. Victory Capital Management Inc. boosted its stake in Cytokinetics by 1,040.4% in the fourth quarter. Victory Capital Management Inc. now owns 191,654 shares of the biopharmaceutical company’s stock valued at $16,001,000 after acquiring an additional 174,848 shares in the last quarter. State of Michigan Retirement System acquired a new stake in shares of Cytokinetics during the first quarter worth about $1,690,000. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Cytokinetics during the fourth quarter worth about $4,099,000.

About Cytokinetics

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.