Cytokinetics, Incorporated (NASDAQ:CYTK – Get Free Report) Director B Lynne Parshall sold 5,000 shares of Cytokinetics stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $54.22, for a total transaction of $271,100.00. Following the completion of the transaction, the director now directly owns 20,600 shares in the company, valued at approximately $1,116,932. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
B Lynne Parshall also recently made the following trade(s):
- On Monday, June 17th, B Lynne Parshall sold 5,000 shares of Cytokinetics stock. The shares were sold at an average price of $52.55, for a total transaction of $262,750.00.
Cytokinetics Price Performance
Shares of CYTK stock opened at $54.84 on Wednesday. The stock’s fifty day simple moving average is $56.32 and its 200 day simple moving average is $67.50. Cytokinetics, Incorporated has a one year low of $25.98 and a one year high of $110.25. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of -10.16 and a beta of 0.75.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on CYTK shares. Mizuho lowered their price target on Cytokinetics from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, March 6th. Raymond James dropped their price target on Cytokinetics from $92.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. Needham & Company LLC reduced their price objective on Cytokinetics from $108.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Truist Financial lowered 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. Finally, Barclays cut their target price on shares of Cytokinetics from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Cytokinetics has a consensus rating of “Moderate Buy” and an average price target of $77.06.
Read Our Latest Stock Report on Cytokinetics
Hedge Funds Weigh In On Cytokinetics
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new position in shares of Cytokinetics in the 4th quarter worth approximately $46,308,000. Vanguard Group Inc. raised its position in Cytokinetics by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company’s stock valued at $316,498,000 after purchasing an additional 472,595 shares during the last quarter. HealthInvest Partners AB bought a new stake in shares of Cytokinetics during the fourth quarter worth $980,000. Legato Capital Management LLC acquired a new stake in shares of Cytokinetics in the fourth quarter valued at $1,305,000. Finally, Vestal Point Capital LP bought a new position in shares of Cytokinetics in the fourth quarter valued at about $4,174,000.
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.
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