Cytokinetics, Incorporated $CYTK Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its position in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 4.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,523,440 shares of the biopharmaceutical company's stock after selling 71,884 shares during the period. Alliancebernstein L.P. owned about 1.28% of Cytokinetics worth $61,227,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Vestal Point Capital LP raised its holdings in Cytokinetics by 10.2% in the 1st quarter. Vestal Point Capital LP now owns 2,590,531 shares of the biopharmaceutical company's stock worth $104,113,000 after purchasing an additional 240,531 shares during the period. Orbimed Advisors LLC raised its stake in shares of Cytokinetics by 106.5% during the 4th quarter. Orbimed Advisors LLC now owns 1,584,005 shares of the biopharmaceutical company's stock worth $74,512,000 after buying an additional 817,099 shares during the period. Westfield Capital Management Co. LP raised its stake in shares of Cytokinetics by 2.4% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,310,336 shares of the biopharmaceutical company's stock worth $52,662,000 after buying an additional 30,346 shares during the period. Brown Advisory Inc. raised its position in Cytokinetics by 0.9% during the first quarter. Brown Advisory Inc. now owns 1,086,300 shares of the biopharmaceutical company's stock worth $43,658,000 after acquiring an additional 9,869 shares during the period. Finally, Integral Health Asset Management LLC raised its position in Cytokinetics by 33.3% during the fourth quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company's stock worth $47,040,000 after acquiring an additional 250,000 shares during the period.

Cytokinetics Stock Down 2.2%

Shares of CYTK traded down $1.19 during midday trading on Friday, reaching $52.13. The company had a trading volume of 528,298 shares, compared to its average volume of 1,855,454. Cytokinetics, Incorporated has a 1-year low of $29.31 and a 1-year high of $59.39. The stock has a market cap of $6.24 billion, a PE ratio of -10.21 and a beta of 0.62. The firm has a 50 day simple moving average of $39.10 and a 200-day simple moving average of $37.89.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.12) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.34) by $0.22. The company had revenue of $66.77 million during the quarter, compared to analyst estimates of $1.95 million. During the same period last year, the business earned ($1.31) earnings per share. The firm's revenue was up 26727.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CYTK. Mizuho reduced their price objective on shares of Cytokinetics from $103.00 to $84.00 and set an "outperform" rating for the company in a research report on Thursday, May 29th. Barclays increased their target price on Cytokinetics from $53.00 to $71.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Wall Street Zen raised Cytokinetics from a "strong sell" rating to a "hold" rating in a report on Sunday, August 10th. Evercore ISI increased their target price on Cytokinetics from $60.00 to $80.00 and gave the company an "outperform" rating in a report on Wednesday, September 3rd. Finally, HC Wainwright reissued a "buy" rating on shares of Cytokinetics in a research note on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $75.38.

Insider Buying and Selling

In other news, CEO Robert I. Blum sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $36.45, for a total transaction of $182,250.00. Following the completion of the sale, the chief executive officer owned 388,108 shares in the company, valued at $14,146,536.60. This trade represents a 1.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Fady Ibraham Malik sold 2,000 shares of the firm's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $51.29, for a total value of $102,580.00. Following the sale, the executive vice president directly owned 140,610 shares of the company's stock, valued at approximately $7,211,886.90. This trade represents a 1.40% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,756 shares of company stock worth $1,274,140. Insiders own 2.70% of the company's stock.

Cytokinetics 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.