Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Sold by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. trimmed its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 1.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,761 shares of the biopharmaceutical company’s stock after selling 1,438 shares during the period. Thornburg Investment Management Inc. owned 0.08% of Cytokinetics worth $5,872,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. acquired a new stake in shares of Cytokinetics in the fourth quarter worth approximately $46,308,000. Vanguard Group Inc. lifted its holdings in Cytokinetics by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company’s stock valued at $316,498,000 after purchasing an additional 472,595 shares in the last quarter. HealthInvest Partners AB acquired a new stake in Cytokinetics during the 4th quarter worth $980,000. Legato Capital Management LLC purchased a new stake in shares of Cytokinetics during the fourth quarter worth $1,305,000. Finally, Vestal Point Capital LP purchased a new stake in shares of Cytokinetics during the fourth quarter worth $4,174,000.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK traded down $0.58 during mid-day trading on Wednesday, reaching $56.80. 926,404 shares of the company were exchanged, compared to its average volume of 2,549,013. Cytokinetics, Incorporated has a 1 year low of $25.98 and a 1 year high of $110.25. The firm’s 50-day simple moving average is $54.01 and its 200 day simple moving average is $66.49. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of -10.52 and a beta of 0.75.

Cytokinetics (NASDAQ:CYTK) last released its quarterly 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 firm had revenue of $0.84 million during the quarter, compared to analyst estimates of $0.91 million. The firm’s revenue for the quarter was down 81.8% on a year-over-year basis. During the same period in the prior year, the company posted ($1.38) EPS. On average, research analysts forecast that Cytokinetics, Incorporated will post -4.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 15,547 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $65.11, for a total transaction of $1,012,265.17. Following the sale, the executive vice president now owns 137,056 shares of the company’s stock, valued at $8,923,716.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Robert Wong sold 13,011 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $48.88, for a total transaction of $635,977.68. Following the completion of the transaction, the chief accounting officer now directly owns 16,653 shares of the company’s stock, valued at approximately $813,998.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Fady Ibraham Malik sold 15,547 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 137,056 shares in the company, valued at approximately $8,923,716.16. The disclosure for this sale can be found here. Insiders sold a total of 155,641 shares of company stock valued at $8,495,754 in the last three months. 3.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Oppenheimer lowered their price target on shares of Cytokinetics from $107.00 to $106.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. HC Wainwright restated a “buy” rating and set a $90.00 target price on shares of Cytokinetics in a report on Monday, June 17th. Barclays cut their price target on Cytokinetics from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. B. Riley lowered their price objective on Cytokinetics from $122.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, June 4th. Finally, JMP Securities dropped their target price on Cytokinetics from $106.00 to $78.00 and set a “market outperform” rating for the company in a report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently 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.