Redmile Group LLC Sells 14,751 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Redmile Group LLC lowered its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 13.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 97,116 shares of the biopharmaceutical company’s stock after selling 14,751 shares during the period. Redmile Group LLC owned about 0.08% of Cytokinetics worth $5,128,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cetera Advisors LLC bought a new stake in Cytokinetics in the 1st quarter worth $531,000. DNB Asset Management AS grew its holdings in Cytokinetics by 9.8% in the 2nd quarter. DNB Asset Management AS now owns 7,231 shares of the biopharmaceutical company’s stock worth $392,000 after acquiring an additional 645 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Cytokinetics by 402.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 17,814 shares of the biopharmaceutical company’s stock worth $965,000 after acquiring an additional 14,270 shares during the last quarter. Mirador Capital Partners LP grew its holdings in Cytokinetics by 78.1% in the 2nd quarter. Mirador Capital Partners LP now owns 63,143 shares of the biopharmaceutical company’s stock worth $3,421,000 after acquiring an additional 27,688 shares during the last quarter. Finally, Securian Asset Management Inc. grew its holdings in Cytokinetics by 13.4% in the 2nd quarter. Securian Asset Management Inc. now owns 9,144 shares of the biopharmaceutical company’s stock worth $495,000 after acquiring an additional 1,081 shares during the last quarter.

Cytokinetics Stock Down 2.1 %

Shares of Cytokinetics stock opened at $50.44 on Thursday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The stock has a market capitalization of $5.95 billion, a PE ratio of -9.38 and a beta of 0.80. Cytokinetics, Incorporated has a 52-week low of $32.50 and a 52-week high of $110.25. The company has a 50-day simple moving average of $53.15 and a two-hundred day simple moving average of $54.22.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The business had revenue of $0.46 million for the quarter, compared to analyst estimates of $1.21 million. The business’s revenue was up 22.5% on a year-over-year basis. During the same period in the previous year, the business earned ($1.35) earnings per share. On average, analysts anticipate that Cytokinetics, Incorporated will post -5.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Fady Ibraham Malik sold 7,300 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $50.16, for a total transaction of $366,168.00. Following the completion of the transaction, the executive vice president now directly owns 111,878 shares of the company’s stock, valued at $5,611,800.48. The trade was a 6.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $52.14, for a total transaction of $260,700.00. Following the transaction, the chief executive officer now directly owns 397,456 shares of the company’s stock, valued at $20,723,355.84. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,994 shares of company stock valued at $3,427,975. Insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CYTK. JMP Securities reissued a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a report on Wednesday, September 4th. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a report on Monday. HC Wainwright reaffirmed a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research note on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. Finally, The Goldman Sachs Group lowered shares of Cytokinetics from a “buy” rating to a “neutral” rating and cut their target price for the company from $85.00 to $60.00 in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

About Cytokinetics

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.