Redmile Group LLC Sells 14,751 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Redmile Group LLC trimmed its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK - Free Report) by 13.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,116 shares of the biopharmaceutical company's stock after selling 14,751 shares during the period. Redmile Group LLC owned about 0.08% of Cytokinetics worth $5,128,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp lifted its stake in Cytokinetics by 21.3% in the third quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company's stock worth $3,802,000 after purchasing an additional 12,565 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Cytokinetics by 38.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company's stock valued at $64,040,000 after acquiring an additional 339,373 shares during the last quarter. Ghisallo Capital Management LLC purchased a new stake in Cytokinetics during the 2nd quarter valued at about $10,619,000. Darwin Global Management Ltd. purchased a new stake in Cytokinetics during the 2nd quarter valued at about $246,074,000. Finally, WINTON GROUP Ltd bought a new position in Cytokinetics during the 2nd quarter worth approximately $983,000.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CYTK shares. The Goldman Sachs Group lowered shares of Cytokinetics from a "buy" rating to a "neutral" rating and lowered their price target for the company from $85.00 to $60.00 in a report on Tuesday, August 13th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Cytokinetics in a research note on Friday, October 18th. Needham & Company LLC reissued a "buy" rating and issued a $72.00 target price on shares of Cytokinetics in a research note on Monday. Royal Bank of Canada began coverage on Cytokinetics in a report on Friday, November 8th. They set an "outperform" rating and a $80.00 price target on the stock. Finally, JMP Securities reiterated a "market outperform" rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $83.93.

Insider Buying and Selling

In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $52.14, for a total value of $260,700.00. Following the completion of the transaction, the chief executive officer now directly owns 397,456 shares of the company's stock, valued at approximately $20,723,355.84. The trade was a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wendall Wierenga sold 4,452 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $52.25, for a total transaction of $232,617.00. Following the sale, the director now owns 24,559 shares in the company, valued at approximately $1,283,207.75. The trade was a 15.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,994 shares of company stock worth $3,427,975 in the last 90 days. Insiders own 3.40% of the company's stock.

Cytokinetics Stock Down 0.1 %

Shares of NASDAQ:CYTK traded down $0.04 during midday trading on Thursday, reaching $50.40. The company's stock had a trading volume of 824,419 shares, compared to its average volume of 2,021,199. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The firm has a 50 day moving average of $53.11 and a 200-day moving average of $54.20. The firm has a market capitalization of $5.95 billion, a P/E ratio of -9.37 and a beta of 0.80. Cytokinetics, Incorporated has a 12-month low of $32.50 and a 12-month high of $110.25.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts' consensus estimates of ($1.27) by ($0.09). The business had revenue of $0.46 million for the quarter, compared to analyst estimates of $1.21 million. During the same quarter in the previous year, the business posted ($1.35) EPS. The business's revenue for the quarter was up 22.5% on a year-over-year basis. On average, research analysts anticipate that Cytokinetics, Incorporated will post -5.25 earnings per share for the current year.

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.