Murchinson Ltd. Sells 25,000 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Murchinson Ltd. decreased its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 23.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 83,795 shares of the biopharmaceutical company’s stock after selling 25,000 shares during the period. Cytokinetics makes up about 0.7% of Murchinson Ltd.’s holdings, making the stock its 19th largest holding. Murchinson Ltd. owned 0.08% of Cytokinetics worth $4,540,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp boosted its stake in Cytokinetics by 642.3% during the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 456 shares during the period. EntryPoint Capital LLC bought a new stake in Cytokinetics during the first quarter worth about $74,000. Bessemer Group Inc. lifted its stake in Cytokinetics by 25,100.0% during the first quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 1,255 shares during the last quarter. nVerses Capital LLC bought a new stake in Cytokinetics during the second quarter worth about $190,000. Finally, Kennedy Capital Management LLC bought a new stake in Cytokinetics during the first quarter worth about $224,000.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research note on Monday, September 9th. B. Riley decreased their price objective on Cytokinetics from $122.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, June 4th. JPMorgan Chase & Co. lifted their price objective on Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a report on Tuesday, September 3rd. Finally, The Goldman Sachs Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $85.00 to $60.00 in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $80.67.

Cytokinetics Stock Performance

Shares of CYTK opened at $52.34 on Friday. The company has a quick ratio of 10.39, a current ratio of 10.39 and a debt-to-equity ratio of 5.93. The business’s 50 day moving average price is $55.80 and its 200-day moving average price is $58.78. Cytokinetics, Incorporated has a 52 week low of $25.98 and a 52 week high of $110.25. The stock has a market cap of $5.49 billion, a P/E ratio of -9.69 and a beta of 0.77.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The company had revenue of $0.25 million during the quarter, compared to analyst estimates of $7.61 million. The company’s quarterly revenue was down 71.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.34) earnings per share. Equities research analysts anticipate that Cytokinetics, Incorporated will post -5.15 earnings per share for the current fiscal year.

Insider Activity at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $55.90, for a total value of $408,070.00. Following the transaction, the executive vice president now directly owns 131,004 shares of the company’s stock, valued at approximately $7,323,123.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Robert I. Blum sold 11,500 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $54.05, for a total transaction of $621,575.00. Following the transaction, the chief executive officer now directly owns 405,145 shares of the company’s stock, valued at approximately $21,898,087.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $55.90, for a total value of $408,070.00. Following the transaction, the executive vice president now directly owns 131,004 shares in the company, valued at $7,323,123.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,537 shares of company stock valued at $5,626,227. 3.40% of the stock is owned by corporate insiders.

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.