Los Angeles Capital Management LLC Sells 3,190 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Los Angeles Capital Management LLC cut its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 17.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,627 shares of the biopharmaceutical company’s stock after selling 3,190 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Cytokinetics were worth $792,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in shares of Cytokinetics by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 789,969 shares of the biopharmaceutical company’s stock valued at $65,955,000 after acquiring an additional 33,257 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Cytokinetics during the fourth quarter valued at about $458,000. Inceptionr LLC bought a new position in shares of Cytokinetics during the 4th quarter worth about $289,000. Quadrant Capital Group LLC grew its stake in shares of Cytokinetics by 9.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,268 shares of the biopharmaceutical company’s stock valued at $273,000 after buying an additional 287 shares during the period. Finally, Norges Bank bought a new stake in Cytokinetics in the 4th quarter valued at about $60,299,000.

Insider Activity

In other news, Director B Lynne Parshall sold 5,000 shares of Cytokinetics stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $52.55, for a total value of $262,750.00. Following the transaction, the director now owns 20,600 shares in the company, valued at $1,082,530. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Cytokinetics news, CEO Robert I. Blum sold 22,500 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $52.60, for a total value of $1,183,500.00. Following the sale, the chief executive officer now owns 416,645 shares of the company’s stock, valued at approximately $21,915,527. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director B Lynne Parshall sold 5,000 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $52.55, for a total transaction of $262,750.00. Following the transaction, the director now directly owns 20,600 shares of the company’s stock, valued at $1,082,530. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,337 shares of company stock valued at $7,464,633. Corporate insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a report on Monday. JPMorgan Chase & Co. raised their price target on shares of Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Truist Financial cut their price objective on Cytokinetics from $86.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. Raymond James lowered their target price on Cytokinetics from $92.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, May 23rd. Finally, The Goldman Sachs Group downgraded shares of Cytokinetics from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $85.00 to $60.00 in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Cytokinetics presently has a consensus rating of “Moderate Buy” and an average price target of $80.67.

Cytokinetics Trading Up 0.5 %

NASDAQ CYTK opened at $54.06 on Friday. The company has a quick ratio of 10.39, a current ratio of 10.39 and a debt-to-equity ratio of 5.93. The stock’s 50-day simple moving average is $56.22 and its two-hundred day simple moving average is $60.07. Cytokinetics, Incorporated has a twelve month low of $25.98 and a twelve month high of $110.25. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of -10.01 and a beta of 0.77.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.25). The company had revenue of $0.25 million during the quarter, compared to the consensus estimate of $7.61 million. The company’s quarterly revenue was down 71.3% compared to the same quarter last year. During the same quarter last year, the company posted ($1.34) earnings per share. Research analysts forecast that Cytokinetics, Incorporated will post -5.1 EPS for the current fiscal 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.