PNC Financial Services Group Inc. Sells 517 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

PNC Financial Services Group Inc. reduced its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTKFree Report) by 7.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,856 shares of the biopharmaceutical company’s stock after selling 517 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Cytokinetics were worth $572,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC purchased a new stake in shares of Cytokinetics during the 4th quarter valued at approximately $80,000. Sage Rhino Capital LLC purchased a new stake in shares of Cytokinetics during the 4th quarter valued at approximately $204,000. Caprock Group LLC purchased a new stake in shares of Cytokinetics during the 4th quarter valued at approximately $216,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Cytokinetics during the 4th quarter valued at approximately $252,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Cytokinetics during the 4th quarter valued at approximately $263,000.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Needham & Company LLC dropped their price target on shares of Cytokinetics from $108.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Raymond James lowered their target price on shares of Cytokinetics from $92.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, May 23rd. Barclays lowered their target price on shares of Cytokinetics from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. JMP Securities lowered their target price on shares of Cytokinetics from $106.00 to $78.00 and set a “market outperform” rating on the stock in a research note on Tuesday, May 28th. Finally, Oppenheimer lowered their target price on shares of Cytokinetics from $107.00 to $106.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $74.88.

Read Our Latest Report on CYTK

Insider Activity at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 32,605 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 138,567 shares of the company’s stock, valued at approximately $10,296,913.77. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Cytokinetics news, Director John T. Henderson sold 10,562 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $64.54, for a total value of $681,671.48. Following the sale, the director now owns 32,070 shares of the company’s stock, valued at approximately $2,069,797.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Fady Ibraham Malik sold 32,605 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was 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 approximately $10,296,913.77. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,318 shares of company stock valued at $6,319,540. Insiders own 3.40% of the company’s stock.

Cytokinetics Stock Performance

Cytokinetics stock opened at $48.51 on Friday. Cytokinetics, Incorporated has a fifty-two week low of $25.98 and a fifty-two week high of $110.25. The firm’s fifty day moving average price is $64.00 and its 200-day moving average price is $64.26. The stock has a market cap of $5.09 billion, a P/E ratio of -8.98 and a beta of 0.72.

Cytokinetics (NASDAQ:CYTKGet Free Report) last released its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($1.16) by ($0.17). The company had revenue of $0.84 million for the quarter, compared to the consensus estimate of $0.91 million. During the same quarter in the prior year, the company posted ($1.38) earnings per share. The business’s revenue was down 81.8% compared to the same quarter last year. On average, analysts predict that Cytokinetics, Incorporated will post -4.53 earnings per share for the current year.

Cytokinetics Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cytokinetics (NASDAQ:CYTK)

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