Peregrine Capital Management LLC Sells 73,150 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Peregrine Capital Management LLC lowered its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 35.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 131,514 shares of the biopharmaceutical company's stock after selling 73,150 shares during the quarter. Peregrine Capital Management LLC owned 0.13% of Cytokinetics worth $10,980,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CYTK. BlackRock Inc. lifted its stake in Cytokinetics by 0.9% in the first quarter. BlackRock Inc. now owns 13,064,618 shares of the biopharmaceutical company's stock worth $480,908,000 after purchasing an additional 113,654 shares during the last quarter. Vanguard Group Inc. lifted its stake in Cytokinetics by 4.6% in the third quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company's stock worth $316,498,000 after purchasing an additional 472,595 shares during the last quarter. State Street Corp lifted its stake in Cytokinetics by 7.1% in the second quarter. State Street Corp now owns 5,091,580 shares of the biopharmaceutical company's stock worth $166,087,000 after purchasing an additional 337,680 shares during the last quarter. Geode Capital Management LLC lifted its stake in Cytokinetics by 4.6% in the first quarter. Geode Capital Management LLC now owns 1,734,696 shares of the biopharmaceutical company's stock worth $61,044,000 after purchasing an additional 76,846 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Cytokinetics by 19.7% in the first quarter. Wellington Management Group LLP now owns 1,344,493 shares of the biopharmaceutical company's stock worth $49,491,000 after purchasing an additional 221,421 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts have weighed in on CYTK shares. Oppenheimer reissued an "outperform" rating and issued a $107.00 price target on shares of Cytokinetics in a research note on Monday, March 4th. StockNews.com downgraded shares of Cytokinetics from a "hold" rating to a "sell" rating in a research note on Friday, January 5th. Mizuho decreased their price objective on shares of Cytokinetics from $103.00 to $99.00 and set a "buy" rating on the stock in a research report on Wednesday, March 6th. UBS Group cut shares of Cytokinetics from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $61.00 to $92.00 in a research report on Wednesday, January 24th. Finally, Truist Financial restated a "buy" rating and issued a $86.00 price objective on shares of Cytokinetics in a research report on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.33.

Insider Buying and Selling

In related news, EVP Fady Ibraham Malik sold 32,605 shares of the business's stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $79.30, for a total transaction of $2,585,576.50. Following the sale, the executive vice president now owns 142,973 shares of the company's stock, valued at $11,337,758.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Fady Ibraham Malik sold 32,605 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president now owns 142,973 shares in the company, valued at $11,337,758.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John T. Henderson sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $76.48, for a total transaction of $382,400.00. Following the completion of the transaction, the director now owns 42,632 shares in the company, valued at approximately $3,260,495.36. The disclosure for this sale can be found here. Insiders have sold 132,814 shares of company stock valued at $10,031,655 over the last quarter. Corporate insiders own 3.80% of the company's stock.

Cytokinetics Stock Performance

Shares of NASDAQ CYTK traded up $0.86 during midday trading on Tuesday, hitting $75.05. 1,224,444 shares of the company traded hands, compared to its average volume of 3,249,140. Cytokinetics, Incorporated has a 12-month low of $25.98 and a 12-month high of $110.25. The stock has a 50-day moving average price of $72.62 and a 200 day moving average price of $56.68. The firm has a market cap of $7.73 billion, a P/E ratio of -13.77 and a beta of 0.68.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The company had revenue of $1.70 million for the quarter, compared to analyst estimates of $7.62 million. During the same quarter in the prior year, the firm earned ($1.45) earnings per share. Cytokinetics's quarterly revenue was down 10.5% compared to the same quarter last year. As a group, equities analysts expect that Cytokinetics, Incorporated will post -4.5 earnings per share for the current year.

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.