Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Sold by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC cut its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 64.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,805 shares of the biopharmaceutical company’s stock after selling 32,675 shares during the period. Lisanti Capital Growth LLC’s holdings in Cytokinetics were worth $1,248,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Oppenheimer & Co. Inc. lifted its stake in Cytokinetics by 162.7% during the first quarter. Oppenheimer & Co. Inc. now owns 8,328 shares of the biopharmaceutical company’s stock valued at $584,000 after purchasing an additional 5,158 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Cytokinetics by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 85,816 shares of the biopharmaceutical company’s stock valued at $6,017,000 after acquiring an additional 1,111 shares during the period. Mutual of America Capital Management LLC raised its holdings in shares of Cytokinetics by 240.5% during the first quarter. Mutual of America Capital Management LLC now owns 58,437 shares of the biopharmaceutical company’s stock valued at $4,097,000 after acquiring an additional 41,275 shares during the period. FORA Capital LLC raised its holdings in shares of Cytokinetics by 758.0% during the first quarter. FORA Capital LLC now owns 82,776 shares of the biopharmaceutical company’s stock valued at $5,803,000 after acquiring an additional 73,128 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Cytokinetics by 10.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,423 shares of the biopharmaceutical company’s stock valued at $4,166,000 after acquiring an additional 5,676 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CYTK shares. JMP Securities cut their price target on shares of Cytokinetics from $106.00 to $78.00 and set a “market outperform” rating on the stock in a report on Tuesday, May 28th. Needham & Company LLC dropped their price objective on shares of Cytokinetics from $108.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. HC Wainwright reiterated a “buy” rating and issued a $90.00 price objective on shares of Cytokinetics in a research note on Monday, June 17th. Barclays dropped their price objective on shares of Cytokinetics from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Finally, Truist Financial dropped their price objective on shares of Cytokinetics from $86.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Cytokinetics currently has an average rating of “Moderate Buy” and an average price target of $77.06.

Cytokinetics Price Performance

Cytokinetics stock traded down $0.32 during mid-day trading on Friday, reaching $55.98. The company had a trading volume of 1,169,947 shares, compared to its average volume of 1,647,712. Cytokinetics, Incorporated has a 52 week low of $25.98 and a 52 week high of $110.25. The company has a 50 day moving average of $54.91 and a 200-day moving average of $67.95.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.17). The firm had revenue of $0.84 million for the quarter, compared to the consensus estimate of $0.91 million. The business’s revenue for the quarter was down 81.8% compared to the same quarter last year. During the same period last year, the firm earned ($1.38) earnings per share. Analysts expect that Cytokinetics, Incorporated will post -4.5 EPS for the current year.

Insider Transactions at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 15,547 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $65.11, for a total transaction of $1,012,265.17. Following the completion of the transaction, the executive vice president now directly owns 137,056 shares of the company’s stock, valued at approximately $8,923,716.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Fady Ibraham Malik sold 15,547 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $65.11, for a total transaction of $1,012,265.17. Following the completion of the sale, the executive vice president now owns 137,056 shares in the company, valued at approximately $8,923,716.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert I. Blum sold 11,500 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $54.29, for a total transaction of $624,335.00. Following the sale, the chief executive officer now owns 399,412 shares of the company’s stock, valued at approximately $21,684,077.48. The disclosure for this sale can be found here. In the last three months, insiders sold 143,341 shares of company stock valued at $7,800,408. Company insiders own 3.40% of the company’s stock.

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.