Cytokinetics (NASDAQ:CYTK) Stock Price Down 3.2%

Cytokinetics, Incorporated (NASDAQ:CYTK)’s stock price traded down 3.2% on Monday . The stock traded as low as $63.14 and last traded at $63.22. 375,780 shares traded hands during trading, a decline of 87% from the average session volume of 2,868,481 shares. The stock had previously closed at $65.34.

Analyst Ratings Changes

Several equities research analysts have recently commented on CYTK shares. Oppenheimer reaffirmed an “outperform” rating and set a $107.00 target price on shares of Cytokinetics in a report on Monday, March 4th. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 price target (up from $60.00) on shares of Cytokinetics in a research note on Friday, January 5th. Needham & Company LLC restated a “buy” rating and set a $108.00 price target on shares of Cytokinetics in a report on Tuesday, April 9th. StockNews.com lowered Cytokinetics from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Finally, HC Wainwright reissued a “buy” rating and set a $94.00 price objective on shares of Cytokinetics in a report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Cytokinetics presently has an average rating of “Moderate Buy” and a consensus price target of $79.33.

Cytokinetics Stock Performance

The firm’s 50-day moving average price is $69.91 and its 200 day moving average price is $60.16.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.35). The company had revenue of $1.70 million during the quarter, compared to analyst estimates of $7.62 million. The company’s revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.45) EPS. Research analysts expect that Cytokinetics, Incorporated will post -4.5 earnings per share for the current year.

Insider Activity at Cytokinetics

In other news, CEO Robert I. Blum sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $79.57, for a total value of $994,625.00. Following the completion of the transaction, the chief executive officer now owns 441,797 shares in the company, valued at $35,153,787.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Cytokinetics news, EVP Fady Ibraham Malik sold 32,605 shares of Cytokinetics stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total value of $2,585,576.50. Following the sale, the executive vice president now directly owns 142,973 shares in the company, valued at approximately $11,337,758.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert I. Blum sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $79.57, for a total value of $994,625.00. Following the completion of the transaction, the chief executive officer now directly owns 441,797 shares of the company’s stock, valued at approximately $35,153,787.29. The disclosure for this sale can be found here. In the last three months, insiders sold 125,876 shares of company stock worth $9,269,877. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cytokinetics

Several large investors have recently modified their holdings of CYTK. Maryland State Retirement & Pension System raised its position in shares of Cytokinetics by 0.8% in the 4th quarter. Maryland State Retirement & Pension System now owns 35,637 shares of the biopharmaceutical company’s stock worth $2,975,000 after acquiring an additional 278 shares in the last quarter. Quadrant Capital Group LLC grew its position in Cytokinetics by 9.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,268 shares of the biopharmaceutical company’s stock worth $273,000 after purchasing an additional 287 shares in the last quarter. Fifth Third Bancorp increased its stake in Cytokinetics by 94.1% in the 1st quarter. Fifth Third Bancorp now owns 656 shares of the biopharmaceutical company’s stock valued at $46,000 after buying an additional 318 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of Cytokinetics by 2.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 17,162 shares of the biopharmaceutical company’s stock valued at $1,433,000 after acquiring an additional 337 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Cytokinetics by 4.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,373 shares of the biopharmaceutical company’s stock valued at $217,000 after purchasing an additional 340 shares during the last quarter.

Cytokinetics Company 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.