Lisanti Capital Growth LLC Sells 26,800 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Lisanti Capital Growth LLC decreased its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 68.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,355 shares of the biopharmaceutical company's stock after selling 26,800 shares during the period. Lisanti Capital Growth LLC's holdings in Cytokinetics were worth $652,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CYTK. Darwin Global Management Ltd. purchased a new stake in Cytokinetics during the second quarter valued at about $246,074,000. Integral Health Asset Management LLC raised its stake in Cytokinetics by 122.2% during the second quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company's stock valued at $54,180,000 after purchasing an additional 550,000 shares in the last quarter. Hood River Capital Management LLC raised its stake in shares of Cytokinetics by 5.9% in the second quarter. Hood River Capital Management LLC now owns 737,637 shares of the biopharmaceutical company's stock valued at $39,965,000 after acquiring an additional 40,990 shares during the period. Westfield Capital Management Co. LP purchased a new stake in Cytokinetics in the first quarter worth $51,277,000. Finally, Great Point Partners LLC increased its position in Cytokinetics by 134.5% during the 2nd quarter. Great Point Partners LLC now owns 474,202 shares of the biopharmaceutical company's stock valued at $25,692,000 after purchasing an additional 272,000 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Wednesday, September 4th. HC Wainwright reissued a "buy" rating and issued a $120.00 price objective on shares of Cytokinetics in a research note on Thursday, November 7th. Royal Bank of Canada assumed coverage on Cytokinetics in a research report on Friday. They issued an "outperform" rating and a $80.00 price objective for the company. Cantor Fitzgerald restated an "overweight" rating on shares of Cytokinetics in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. upped their price objective 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 stock. According to data from MarketBeat.com, Cytokinetics has a consensus rating of "Moderate Buy" and a consensus target price of $83.67.

Cytokinetics Price Performance

Shares of Cytokinetics stock traded down $2.43 during trading on Tuesday, reaching $56.19. 1,148,501 shares of the stock traded hands, compared to its average volume of 2,072,246. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of -10.90 and a beta of 0.78. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 10.39. The business has a fifty day simple moving average of $54.13 and a two-hundred day simple moving average of $55.45. Cytokinetics, Incorporated has a 52-week low of $30.68 and a 52-week high of $110.25.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The firm had revenue of $0.46 million during the quarter, compared to analysts' expectations of $1.21 million. The company's revenue was up 22.5% on a year-over-year basis. During the same period in the previous year, the company posted ($1.35) EPS. Sell-side analysts expect that Cytokinetics, Incorporated will post -5.29 EPS for the current year.

Insider Activity

In related news, EVP Fady Ibraham Malik sold 7,384 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $57.01, for a total value of $420,961.84. Following the completion of the transaction, the executive vice president now directly owns 122,920 shares in the company, valued at approximately $7,007,669.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $51.63, for a total transaction of $258,150.00. Following the transaction, the chief executive officer now owns 397,456 shares of the company's stock, valued at approximately $20,520,653.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Fady Ibraham Malik sold 7,384 shares of Cytokinetics stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $57.01, for a total value of $420,961.84. Following the sale, the executive vice president now directly owns 122,920 shares in the company, valued at approximately $7,007,669.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 53,736 shares of company stock worth $2,890,489 over the last three months. Insiders own 3.40% of the company's stock.

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.