First Turn Management LLC Sells 70,171 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

First Turn Management LLC reduced its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 23.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,147 shares of the biopharmaceutical company's stock after selling 70,171 shares during the quarter. First Turn Management LLC owned about 0.19% of Cytokinetics worth $11,782,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. J.Safra Asset Management Corp lifted its position in shares of Cytokinetics by 642.3% during the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 456 shares in the last quarter. UMB Bank n.a. lifted its holdings in Cytokinetics by 65.6% during the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company's stock worth $32,000 after purchasing an additional 238 shares in the last quarter. Blue Trust Inc. lifted its holdings in Cytokinetics by 225.9% during the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 680 shares in the last quarter. Values First Advisors Inc. bought a new position in Cytokinetics in the 3rd quarter worth about $54,000. Finally, EntryPoint Capital LLC purchased a new position in Cytokinetics during the 1st quarter valued at about $74,000.

Cytokinetics Price Performance

Shares of CYTK stock traded down $0.85 during trading hours on Tuesday, hitting $51.09. 1,936,911 shares of the company's stock were exchanged, compared to its average volume of 2,059,327. Cytokinetics, Incorporated has a 12-month low of $30.68 and a 12-month high of $110.25. The company has a market capitalization of $6.03 billion, a PE ratio of -9.50 and a beta of 0.78. The business's 50 day simple moving average is $53.94 and its 200-day simple moving average is $55.01. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing analysts' consensus estimates of ($1.27) by ($0.09). The company had revenue of $0.46 million for the quarter, compared to the consensus estimate of $1.21 million. During the same quarter in the previous year, the firm posted ($1.35) EPS. The firm's revenue for the quarter was up 22.5% compared to the same quarter last year. On average, equities research analysts anticipate that Cytokinetics, Incorporated will post -4.32 earnings per share for the current year.

Insider Buying and Selling

In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $50.55, for a total transaction of $252,750.00. Following the completion of the sale, the chief executive officer now owns 397,456 shares of the company's stock, valued at $20,091,400.80. This represents a 1.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Fady Ibraham Malik sold 7,384 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $57.01, for a total transaction of $420,961.84. Following the completion of the transaction, the executive vice president now owns 122,920 shares in the company, valued at $7,007,669.20. The trade was a 5.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,078 shares of company stock worth $3,514,119 in the last ninety days. 3.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CYTK. Cantor Fitzgerald restated an "overweight" rating on shares of Cytokinetics in a research report on Friday, October 18th. Royal Bank of Canada began coverage on shares of Cytokinetics in a report on Friday, November 8th. They issued an "outperform" rating and a $80.00 price target for the company. JMP Securities reaffirmed a "market outperform" rating and issued a $78.00 price target on shares of Cytokinetics in a report on Wednesday, September 4th. Needham & Company LLC restated a "buy" rating and set a $72.00 target price on shares of Cytokinetics in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised their price target on Cytokinetics from $65.00 to $71.00 and gave the company an "overweight" rating in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Cytokinetics presently has a consensus rating of "Moderate Buy" and an average price target of $83.67.

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.