Segall Bryant & Hamill LLC Sells 2,947 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Segall Bryant & Hamill LLC cut its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,451 shares of the biopharmaceutical company’s stock after selling 2,947 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.06% of Cytokinetics worth $3,825,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CYTK. Van ECK Associates Corp grew its stake in Cytokinetics by 21.3% during the third quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company’s stock worth $3,802,000 after purchasing an additional 12,565 shares during the period. Ghisallo Capital Management LLC acquired a new stake in shares of Cytokinetics during the 2nd quarter worth approximately $10,619,000. Castleark Management LLC bought a new stake in shares of Cytokinetics in the 1st quarter valued at $1,471,000. Darwin Global Management Ltd. acquired a new position in shares of Cytokinetics during the 2nd quarter valued at $246,074,000. Finally, WINTON GROUP Ltd bought a new position in Cytokinetics during the second quarter worth $983,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research note on Monday, November 18th. The Goldman Sachs Group lowered Cytokinetics from a “buy” rating to a “neutral” rating and cut their price target for the stock from $85.00 to $60.00 in a report on Tuesday, August 13th. JPMorgan Chase & Co. boosted their price objective on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Royal Bank of Canada began coverage on Cytokinetics in a report on Friday, November 8th. They issued an “outperform” rating and a $80.00 target price on the stock. Finally, JMP Securities restated a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Insider Activity at Cytokinetics

In other Cytokinetics news, Director Wendall Wierenga sold 4,452 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $52.25, for a total transaction of $232,617.00. Following the completion of the transaction, the director now directly owns 24,559 shares of the company’s stock, valued at approximately $1,283,207.75. This represents a 15.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $50.55, for a total value of $252,750.00. Following the completion of the sale, the chief executive officer now directly owns 397,456 shares of the company’s stock, valued at $20,091,400.80. This represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,078 shares of company stock worth $3,514,119. 3.40% of the stock is owned by company insiders.

Cytokinetics Stock Performance

CYTK stock opened at $49.10 on Friday. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The firm has a market cap of $5.79 billion, a PE ratio of -9.13 and a beta of 0.78. The business has a 50 day moving average of $53.60 and a 200-day moving average of $54.81. Cytokinetics, Incorporated has a 12-month low of $30.68 and a 12-month high of $110.25.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The business had revenue of $0.46 million during the quarter, compared to analyst estimates of $1.21 million. During the same quarter in the prior year, the company posted ($1.35) earnings per share. The company’s revenue was up 22.5% on a year-over-year basis. As a group, sell-side analysts expect that Cytokinetics, Incorporated will post -5.31 earnings per share for the current year.

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.