Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Sold by Silphium Asset Management Ltd

Silphium Asset Management Ltd lessened its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 59.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,000 shares of the biopharmaceutical company's stock after selling 43,564 shares during the period. Silphium Asset Management Ltd's holdings in Cytokinetics were worth $1,411,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp raised its holdings in shares of Cytokinetics by 189.8% in the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 374 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in Cytokinetics in the fourth quarter valued at $29,000. Blue Trust Inc. lifted its holdings in Cytokinetics by 85.8% during the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company's stock worth $86,000 after buying an additional 842 shares during the last quarter. R Squared Ltd acquired a new stake in Cytokinetics during the fourth quarter worth approximately $133,000. Finally, Quarry LP lifted its position in shares of Cytokinetics by 50.0% during the 3rd quarter. Quarry LP now owns 3,000 shares of the biopharmaceutical company's stock worth $158,000 after buying an additional 1,000 shares during the last quarter.

Cytokinetics Price Performance

CYTK stock traded down $0.61 on Thursday, reaching $43.27. The company had a trading volume of 1,107,080 shares, compared to its average volume of 1,573,417. The company's fifty day moving average is $47.00 and its 200 day moving average is $51.03. The company has a market cap of $5.12 billion, a P/E ratio of -8.04 and a beta of 0.95. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. Cytokinetics, Incorporated has a 1 year low of $40.53 and a 1 year high of $75.71.

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Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.29) by $0.03. The company had revenue of $16.93 million during the quarter, compared to analysts' expectations of $14.26 million. On average, research analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Morgan Stanley upgraded shares of Cytokinetics from an "equal weight" rating to an "overweight" rating and cut their price target for the stock from $70.00 to $67.00 in a research note on Thursday, February 13th. Citigroup started coverage on Cytokinetics in a research note on Friday, February 7th. They set a "buy" rating and a $86.00 price target on the stock. Royal Bank of Canada boosted their price objective on Cytokinetics from $80.00 to $82.00 and gave the company an "outperform" rating in a research note on Wednesday, December 18th. Needham & Company LLC restated a "buy" rating and set a $72.00 target price on shares of Cytokinetics in a research report on Thursday, February 6th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $120.00 target price on shares of Cytokinetics in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $82.00.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, Director Wendall Wierenga sold 742 shares of the business's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $48.61, for a total value of $36,068.62. Following the completion of the transaction, the director now directly owns 24,559 shares in the company, valued at approximately $1,193,812.99. The trade was a 2.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Fady Ibraham Malik sold 7,300 shares of the firm's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $50.64, for a total value of $369,672.00. Following the sale, the executive vice president now owns 116,071 shares in the company, valued at $5,877,835.44. This trade represents a 5.92 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,822 shares of company stock worth $874,048. Corporate insiders own 3.40% of the company's stock.

Cytokinetics Company 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.