Ironwood Investment Management LLC Sells 1,991 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Ironwood Investment Management LLC decreased its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 3.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,976 shares of the biopharmaceutical company’s stock after selling 1,991 shares during the quarter. Cytokinetics makes up approximately 1.4% of Ironwood Investment Management LLC’s portfolio, making the stock its 16th largest position. Ironwood Investment Management LLC owned about 0.07% of Cytokinetics worth $2,251,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Teacher Retirement System of Texas boosted its position in Cytokinetics by 1.0% in the fourth quarter. Teacher Retirement System of Texas now owns 26,873 shares of the biopharmaceutical company’s stock worth $1,231,000 after purchasing an additional 257 shares during the last quarter. Captrust Financial Advisors raised its position in Cytokinetics by 7.8% in the third quarter. Captrust Financial Advisors now owns 4,177 shares of the biopharmaceutical company’s stock worth $202,000 after acquiring an additional 304 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in Cytokinetics by 33.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 1,282 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 321 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Cytokinetics by 6.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,454 shares of the biopharmaceutical company’s stock valued at $236,000 after acquiring an additional 372 shares during the period. Finally, Sectoral Asset Management Inc. increased its stake in shares of Cytokinetics by 0.5% during the 1st quarter. Sectoral Asset Management Inc. now owns 83,850 shares of the biopharmaceutical company’s stock worth $2,951,000 after purchasing an additional 400 shares during the last quarter.

Cytokinetics Stock Performance

Cytokinetics stock traded down $0.56 during midday trading on Monday, hitting $35.50. 141,639 shares of the company’s stock were exchanged, compared to its average volume of 878,547. The company has a market cap of $3.41 billion, a P/E ratio of -6.34 and a beta of 0.74. The stock has a 50-day moving average price of $33.67 and a two-hundred day moving average price of $35.95. Cytokinetics, Incorporated has a 52-week low of $30.66 and a 52-week high of $55.79.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($1.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.11). The business had revenue of $0.87 million for the quarter, compared to the consensus estimate of $5.67 million. Cytokinetics had a negative net margin of 5,419.17% and a negative return on equity of 1,401.63%. The business’s revenue was down 99.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.23) EPS. As a group, sell-side analysts expect that Cytokinetics, Incorporated will post -4.1 earnings per share for the current year.

Insider Transactions at Cytokinetics

In other news, CEO Robert I. Blum sold 12,500 shares of Cytokinetics stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $32.60, for a total transaction of $407,500.00. Following the completion of the sale, the chief executive officer now directly owns 441,417 shares of the company’s stock, valued at approximately $14,390,194.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cytokinetics news, Director Wendall Wierenga sold 6,020 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $32.02, for a total transaction of $192,760.40. Following the transaction, the director now directly owns 18,205 shares in the company, valued at $582,924.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert I. Blum sold 12,500 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $32.60, for a total value of $407,500.00. Following the completion of the sale, the chief executive officer now directly owns 441,417 shares of the company’s stock, valued at approximately $14,390,194.20. The disclosure for this sale can be found here. Insiders have sold 73,020 shares of company stock valued at $2,435,300 in the last quarter. Insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. HC Wainwright reissued a “buy” rating and set a $49.00 price objective on shares of Cytokinetics in a report on Friday, August 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $59.00 price objective on shares of Cytokinetics in a report on Tuesday, August 22nd. SVB Securities began coverage on shares of Cytokinetics in a report on Tuesday, August 15th. They set an “outperform” rating and a $58.00 price objective on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $60.00 target price on shares of Cytokinetics in a research note on Friday, August 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of Cytokinetics from $52.00 to $54.00 in a research note on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cytokinetics has an average rating of “Moderate Buy” and a consensus target price of $58.21.

Cytokinetics 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.