Key Points
- Director B. Lynne Parshall sold 5,000 Cytokinetics shares at an average $54.73, receiving $273,650. The sale was made under a pre-arranged Rule 10b5-1 plan; Parshall retained 5,784 shares afterward.
- Cytokinetics reported a quarterly loss of $1.37 per share, narrower than the $1.43 loss analysts expected, while revenue of $47.56 million topped estimates and rose sharply year over year.
- Analysts’ consensus rating was Moderate Buy, with a consensus price target of $106.67; shares opened at $56.16 and were down 4% in the reported session.
Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) Director B. Parshall sold 5,000 shares of Cytokinetics stock in a transaction on Monday, November 9th. The shares were sold at an average price of $54.73, for a total transaction of $273,650.00. Following the completion of the sale, the director owned 5,784 shares in the company, valued at approximately $316,558.32. This trade represents a 46.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
B Lynne Parshall also recently made the following trade(s):
- On Tuesday, September 1st, B. Parshall sold 5,000 shares of Cytokinetics stock. The shares were sold at an average price of $71.48, for a total transaction of $357,400.00.
Cytokinetics Trading Down 4.0%
Shares of NASDAQ CYTK opened at $56.16 on Friday. Cytokinetics, Incorporated has a 12 month low of $53.55 and a 12 month high of $88.31. The firm has a market capitalization of $7.82 billion, a PE ratio of -9.30 and a beta of 0.45. The firm has a fifty day simple moving average of $64.47 and a two-hundred day simple moving average of $69.82.
Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The biopharmaceutical company reported ($1.37) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.43) by $0.06. The company had revenue of $47.56 million during the quarter, compared to the consensus estimate of $41.88 million. During the same period in the previous year, the company earned ($2.55) earnings per share. Cytokinetics's quarterly revenue was up 2356.5% on a year-over-year basis. On average, sell-side analysts predict that Cytokinetics, Incorporated will post -5.85 earnings per share for the current year.
Institutional Investors Weigh In On Cytokinetics
Several hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC boosted its stake in Cytokinetics by 3.8% during the third quarter. Commonwealth Equity Services LLC now owns 4,925 shares of the biopharmaceutical company's stock worth $325,000 after acquiring an additional 179 shares in the last quarter. V Square Quantitative Management LLC increased its stake in shares of Cytokinetics by 71.5% during the third quarter. V Square Quantitative Management LLC now owns 458 shares of the biopharmaceutical company's stock valued at $30,000 after purchasing an additional 191 shares in the last quarter. Allworth Financial LP increased its stake in shares of Cytokinetics by 35.6% during the third quarter. Allworth Financial LP now owns 732 shares of the biopharmaceutical company's stock valued at $48,000 after purchasing an additional 192 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Cytokinetics by 8.6% during the third quarter. GAMMA Investing LLC now owns 2,700 shares of the biopharmaceutical company's stock valued at $178,000 after purchasing an additional 213 shares in the last quarter. Finally, AlphaCentric Advisors LLC lifted its holdings in shares of Cytokinetics by 4.1% during the third quarter. AlphaCentric Advisors LLC now owns 5,933 shares of the biopharmaceutical company's stock valued at $391,000 after purchasing an additional 236 shares during the last quarter.
Analyst Ratings Changes
A number of research analysts have weighed in on CYTK shares. William Blair assumed coverage on Cytokinetics in a report on Friday, October 16th. They set an "outperform" rating on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Cytokinetics in a research note on Thursday, October 15th. Needham & Company LLC raised their target price on Cytokinetics from $102.00 to $112.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Citigroup lifted their price target on Cytokinetics from $99.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, November 5th. Finally, Wall Street Zen raised Cytokinetics from a "sell" rating to a "hold" rating in a research note on Saturday, November 7th. Nineteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $106.67.
Get Our Latest Analysis on Cytokinetics
About Cytokinetics
(
Get Free Report)
Cytokinetics is a biopharmaceutical company focused on discovering and developing medicines that target the biology of muscle function. Its research centers on therapies for conditions involving impaired cardiac muscle performance. The company's work includes aficamten, a cardiac myosin inhibitor developed for hypertrophic cardiomyopathy, and other drug candidates designed to affect muscle contraction. Cytokinetics conducts research and clinical development through programs that may involve patients and collaborators in multiple countries.
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