Wealth Enhancement Advisory Services LLC Makes New Investment in Cytokinetics, Incorporated (NASDAQ:CYTK)

Wealth Enhancement Advisory Services LLC acquired a new stake in Cytokinetics, Incorporated (NASDAQ:CYTKFree Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,593 shares of the biopharmaceutical company’s stock, valued at approximately $813,000.

Several other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in shares of Cytokinetics during the 4th quarter worth $80,000. Sage Rhino Capital LLC acquired a new stake in shares of Cytokinetics in the 4th quarter valued at approximately $204,000. Caprock Group LLC bought a new stake in shares of Cytokinetics during the 4th quarter valued at approximately $216,000. Journey Strategic Wealth LLC bought a new stake in shares of Cytokinetics during the 4th quarter valued at approximately $243,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in Cytokinetics during the 4th quarter worth approximately $252,000.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CYTK shares. Raymond James dropped their price target on Cytokinetics from $92.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Bank of America cut their price target on Cytokinetics from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, May 23rd. Needham & Company LLC lowered their price objective on Cytokinetics from $108.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. B. Riley cut their target price on shares of Cytokinetics from $122.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. Finally, Truist Financial decreased their price target on shares of Cytokinetics from $86.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.06.

Read Our Latest Stock Analysis on CYTK

Cytokinetics Stock Up 2.1 %

NASDAQ:CYTK opened at $56.67 on Tuesday. Cytokinetics, Incorporated has a twelve month low of $25.98 and a twelve month high of $110.25. The company has a fifty day moving average of $55.55 and a 200-day moving average of $67.98. The firm has a market capitalization of $5.94 billion, a P/E ratio of -10.49 and a beta of 0.75.

Cytokinetics (NASDAQ:CYTKGet Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($1.16) by ($0.17). The business had revenue of $0.84 million for the quarter, compared to analysts’ expectations of $0.91 million. The company’s quarterly revenue was down 81.8% on a year-over-year basis. During the same period in the prior year, the business posted ($1.38) earnings per share. On average, analysts anticipate that Cytokinetics, Incorporated will post -4.5 EPS for the current fiscal year.

Insider Buying and Selling

In other Cytokinetics news, Director B Lynne Parshall sold 5,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $54.22, for a total value of $271,100.00. Following the transaction, the director now owns 20,600 shares in the company, valued at $1,116,932. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Cytokinetics news, EVP Fady Ibraham Malik sold 15,547 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $65.11, for a total value of $1,012,265.17. Following the transaction, the executive vice president now directly owns 137,056 shares of the company’s stock, valued at $8,923,716.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director B Lynne Parshall sold 5,000 shares of Cytokinetics stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $54.22, for a total transaction of $271,100.00. Following the transaction, the director now owns 20,600 shares of the company’s stock, valued at $1,116,932. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,541 shares of company stock valued at $6,768,003. 3.40% of the stock is owned by company insiders.

Cytokinetics Company 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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