Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 373,855 shares of the biopharmaceutical company's stock after selling 10,028 shares during the period. Rhumbline Advisers owned 0.31% of Cytokinetics worth $15,025,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CYTK. Jones Financial Companies Lllp increased its holdings in shares of Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 374 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in Cytokinetics in the fourth quarter valued at $29,000. Parallel Advisors LLC grew its position in Cytokinetics by 500.5% during the first quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company's stock valued at $44,000 after acquiring an additional 916 shares during the period. AlphaQuest LLC increased its stake in Cytokinetics by 113,500.0% during the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock worth $53,000 after acquiring an additional 1,135 shares during the last quarter. Finally, J.Safra Asset Management Corp raised its holdings in shares of Cytokinetics by 62.1% in the 4th quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company's stock worth $83,000 after purchasing an additional 671 shares during the period.

Cytokinetics Stock Up 2.6%

Shares of Cytokinetics stock traded up $0.83 during trading hours on Monday, hitting $33.13. 1,360,017 shares of the company's stock traded hands, compared to its average volume of 1,554,766. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a twelve month low of $29.31 and a twelve month high of $61.38. The stock has a 50 day simple moving average of $35.24 and a 200-day simple moving average of $42.87. The company has a market cap of $3.96 billion, a PE ratio of -6.16 and a beta of 0.59.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.41) by $0.05. The business had revenue of $1.60 million for the quarter, compared to analysts' expectations of $2.77 million. Cytokinetics's revenue for the quarter was up 89.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.33) earnings per share. Equities research analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CYTK has been the subject of a number of research reports. JMP Securities reiterated a "market outperform" rating and set a $78.00 target price on shares of Cytokinetics in a report on Thursday, April 10th. Bank of America reduced their price target on shares of Cytokinetics from $62.00 to $54.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. HC Wainwright reiterated a "buy" rating and set a $120.00 price objective on shares of Cytokinetics in a research note on Monday, April 21st. Morgan Stanley set a $67.00 target price on shares of Cytokinetics in a research note on Friday, March 7th. Finally, Royal Bank of Canada reduced their target price on shares of Cytokinetics from $82.00 to $80.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $70.92.

Insider Transactions at Cytokinetics

In other news, Director Muna Bhanji sold 1,454 shares of Cytokinetics stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $29.73, for a total value of $43,227.42. Following the completion of the transaction, the director now directly owns 23,510 shares of the company's stock, valued at approximately $698,952.30. The trade was a 5.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Andrew Callos sold 8,659 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $32.04, for a total transaction of $277,434.36. Following the sale, the executive vice president now owns 52,028 shares in the company, valued at approximately $1,666,977.12. This trade represents a 14.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,800 shares of company stock valued at $3,518,893. 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.