US Bancorp DE Sells 1,752 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

US Bancorp DE reduced its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 24.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,290 shares of the biopharmaceutical company’s stock after selling 1,752 shares during the period. US Bancorp DE’s holdings in Cytokinetics were worth $279,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Darwin Global Management Ltd. acquired a new stake in shares of Cytokinetics during the 2nd quarter worth approximately $246,074,000. Integral Health Asset Management LLC grew its holdings in shares of Cytokinetics by 122.2% during the 2nd quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $54,180,000 after purchasing an additional 550,000 shares in the last quarter. Hood River Capital Management LLC grew its holdings in shares of Cytokinetics by 5.9% during the 2nd quarter. Hood River Capital Management LLC now owns 737,637 shares of the biopharmaceutical company’s stock worth $39,965,000 after purchasing an additional 40,990 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of Cytokinetics during the 1st quarter worth approximately $51,277,000. Finally, Great Point Partners LLC grew its holdings in shares of Cytokinetics by 134.5% during the 2nd quarter. Great Point Partners LLC now owns 474,202 shares of the biopharmaceutical company’s stock worth $25,692,000 after purchasing an additional 272,000 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CYTK. The Goldman Sachs Group lowered Cytokinetics from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $85.00 to $60.00 in a report on Tuesday, August 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research note on Wednesday, September 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research note on Thursday, October 17th. Finally, Royal Bank of Canada began coverage on Cytokinetics in a research note on Friday, November 8th. They issued an “outperform” rating and a $80.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.67.

Cytokinetics Price Performance

Cytokinetics stock opened at $55.96 on Thursday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The firm has a market cap of $6.60 billion, a P/E ratio of -10.40 and a beta of 0.78. The business’s fifty day moving average is $54.18 and its two-hundred day moving average is $55.39. Cytokinetics, Incorporated has a 52 week low of $30.68 and a 52 week high of $110.25.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The business had revenue of $0.46 million during the quarter, compared to the consensus estimate of $1.21 million. The business’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.35) earnings per share. Equities research analysts forecast that Cytokinetics, Incorporated will post -5.31 earnings per share for the current fiscal year.

Insider Transactions at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 6,342 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $58.48, for a total transaction of $370,880.16. Following the completion of the sale, the executive vice president now owns 113,878 shares in the company, valued at $6,659,585.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Fady Ibraham Malik sold 6,342 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $58.48, for a total transaction of $370,880.16. Following the completion of the sale, the executive vice president now owns 113,878 shares in the company, valued at $6,659,585.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $52.14, for a total value of $260,700.00. Following the completion of the sale, the chief executive officer now owns 397,456 shares of the company’s stock, valued at $20,723,355.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,078 shares of company stock worth $3,261,369 over the last 90 days. 3.40% of the stock is owned by insiders.

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.