Raymond James & Associates Sells 1,861 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Raymond James & Associates reduced its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 11.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 14,827 shares of the biopharmaceutical company’s stock after selling 1,861 shares during the period. Raymond James & Associates’ holdings in Cytokinetics were worth $1,238,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Legato Capital Management LLC bought a new position in shares of Cytokinetics in the fourth quarter valued at approximately $1,305,000. High Net Worth Advisory Group LLC bought a new position in shares of Cytokinetics in the fourth quarter valued at approximately $417,000. Vanguard Group Inc. grew its holdings in shares of Cytokinetics by 4.6% in the third quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company’s stock valued at $316,498,000 after acquiring an additional 472,595 shares in the last quarter. Hudson Bay Capital Management LP grew its holdings in shares of Cytokinetics by 300.0% in the third quarter. Hudson Bay Capital Management LP now owns 80,000 shares of the biopharmaceutical company’s stock valued at $2,357,000 after acquiring an additional 60,000 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of Cytokinetics in the third quarter valued at approximately $470,000.

Cytokinetics Price Performance

NASDAQ:CYTK opened at $67.55 on Friday. The company has a market cap of $7.06 billion, a P/E ratio of -12.39 and a beta of 0.68. Cytokinetics, Incorporated has a 1 year low of $25.98 and a 1 year high of $110.25. The stock’s fifty day moving average price is $71.10 and its two-hundred day moving average price is $58.75.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.35). The company had revenue of $1.70 million during the quarter, compared to analyst estimates of $7.62 million. During the same quarter in the previous year, the company posted ($1.45) earnings per share. The firm’s revenue was down 10.5% compared to the same quarter last year. On average, analysts expect that Cytokinetics, Incorporated will post -4.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CYTK shares. HC Wainwright reaffirmed a “buy” rating and issued a $94.00 target price on shares of Cytokinetics in a report on Wednesday, February 28th. StockNews.com lowered Cytokinetics from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 price objective (up previously from $60.00) on shares of Cytokinetics in a research note on Friday, January 5th. Raymond James upped their price objective on Cytokinetics from $63.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, December 28th. Finally, Mizuho dropped their price objective on Cytokinetics from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.33.

Insider Transactions at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 32,605 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $74.31, for a total transaction of $2,422,877.55. Following the completion of the sale, the executive vice president now directly owns 138,567 shares in the company, valued at $10,296,913.77. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Fady Ibraham Malik sold 32,605 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $74.31, for a total transaction of $2,422,877.55. Following the completion of the sale, the executive vice president now directly owns 138,567 shares in the company, valued at $10,296,913.77. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert I. Blum sold 12,500 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $79.57, for a total transaction of $994,625.00. Following the sale, the chief executive officer now owns 441,797 shares of the company’s stock, valued at $35,153,787.29. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,314 shares of company stock worth $8,588,205. Company insiders own 3.80% 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.