Mirador Capital Partners LP Trims Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Mirador Capital Partners LP trimmed its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 27.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,455 shares of the biopharmaceutical company’s stock after selling 13,497 shares during the quarter. Mirador Capital Partners LP’s holdings in Cytokinetics were worth $2,486,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Maryland State Retirement & Pension System raised its holdings in shares of Cytokinetics by 0.8% in the 4th quarter. Maryland State Retirement & Pension System now owns 35,637 shares of the biopharmaceutical company’s stock valued at $2,975,000 after acquiring an additional 278 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Cytokinetics by 9.6% during the fourth quarter. Quadrant Capital Group LLC now owns 3,268 shares of the biopharmaceutical company’s stock valued at $273,000 after purchasing an additional 287 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in Cytokinetics by 2.0% in the 4th quarter. Mutual of America Capital Management LLC now owns 17,162 shares of the biopharmaceutical company’s stock worth $1,433,000 after buying an additional 337 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Cytokinetics by 4.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,373 shares of the biopharmaceutical company’s stock worth $217,000 after buying an additional 340 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in shares of Cytokinetics by 5.1% during the 3rd quarter. HighTower Advisors LLC now owns 8,868 shares of the biopharmaceutical company’s stock valued at $261,000 after buying an additional 434 shares in the last quarter.

Cytokinetics Trading Up 1.1 %

Shares of CYTK stock traded up $0.57 during trading hours on Monday, reaching $54.75. The company’s stock had a trading volume of 567,474 shares, compared to its average volume of 2,711,668. Cytokinetics, Incorporated has a one year low of $25.98 and a one year high of $110.25. The stock has a market capitalization of $5.74 billion, a P/E ratio of -10.02 and a beta of 0.75. The firm’s fifty day simple moving average is $56.77 and its 200 day simple moving average is $67.24.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.17). The business had revenue of $0.84 million for the quarter, compared to analyst estimates of $0.91 million. The company’s revenue for the quarter was down 81.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.38) earnings per share. As a group, equities research analysts forecast that Cytokinetics, Incorporated will post -4.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert Arthur Harrington sold 1,580 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $48.64, for a total value of $76,851.20. Following the sale, the director now directly owns 15,541 shares of the company’s stock, valued at $755,914.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Robert I. Blum sold 22,500 shares of Cytokinetics stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $48.85, for a total transaction of $1,099,125.00. Following the completion of the transaction, the chief executive officer now directly owns 439,145 shares in the company, valued at $21,452,233.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Arthur Harrington sold 1,580 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $48.64, for a total value of $76,851.20. Following the completion of the sale, the director now directly owns 15,541 shares in the company, valued at $755,914.24. The disclosure for this sale can be found here. Insiders sold 140,393 shares of company stock worth $8,284,390 over the last three months. Company insiders own 3.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CYTK. Oppenheimer reduced their target price on Cytokinetics from $107.00 to $106.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. B. Riley reduced their price objective on Cytokinetics from $122.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. Bank of America dropped their target price on Cytokinetics from $70.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, May 23rd. JPMorgan Chase & Co. reduced their price target on shares of Cytokinetics from $77.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. Finally, Needham & Company LLC lowered their price objective on shares of Cytokinetics from $108.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $77.06.

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.