Cytokinetics, Inc. (CYTK) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its position in Cytokinetics, Inc. (NASDAQ:CYTK) by 26.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 190,026 shares of the biopharmaceutical company’s stock after selling 69,807 shares during the period. Russell Investments Group Ltd. owned 0.35% of Cytokinetics worth $2,755,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan bought a new position in Cytokinetics in the 2nd quarter worth approximately $132,000. Birchview Capital LP bought a new position in Cytokinetics in the 3rd quarter worth approximately $145,000. BNP Paribas Arbitrage SA raised its position in Cytokinetics by 4,464.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,328 shares of the biopharmaceutical company’s stock worth $161,000 after purchasing an additional 13,036 shares during the last quarter. Bank of America Corp DE raised its position in Cytokinetics by 36.8% in the 1st quarter. Bank of America Corp DE now owns 12,571 shares of the biopharmaceutical company’s stock worth $162,000 after purchasing an additional 3,383 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Cytokinetics by 73.3% in the 2nd quarter. SG Americas Securities LLC now owns 14,306 shares of the biopharmaceutical company’s stock worth $173,000 after purchasing an additional 6,052 shares during the last quarter. Institutional investors own 73.61% of the company’s stock.

In other news, insider Caryn Gordon Mcdowell sold 4,260 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $12.94, for a total value of $55,124.40. Following the completion of the transaction, the insider now owns 17,982 shares of the company’s stock, valued at approximately $232,687.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $14.59, for a total transaction of $72,950.00. The disclosure for this sale can be found here. Insiders have sold a total of 34,762 shares of company stock valued at $497,826 in the last ninety days. Company insiders own 7.20% of the company’s stock.

CYTK has been the subject of several research analyst reports. HC Wainwright restated a “buy” rating and issued a $26.00 price objective on shares of Cytokinetics in a research report on Friday, October 27th. Seaport Global Securities restated a “buy” rating and issued a $24.00 price objective on shares of Cytokinetics in a research report on Friday, October 6th. Cantor Fitzgerald restated a “buy” rating and issued a $21.00 price objective on shares of Cytokinetics in a research report on Tuesday, September 26th. Needham & Company LLC restated a “buy” rating and issued a $22.00 price objective on shares of Cytokinetics in a research report on Sunday, September 17th. Finally, TheStreet cut shares of Cytokinetics from a “c” rating to a “d” rating in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $17.64.

Shares of Cytokinetics, Inc. (CYTK) opened at $8.15 on Wednesday. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.14. Cytokinetics, Inc. has a fifty-two week low of $7.00 and a fifty-two week high of $17.20.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Thursday, October 26th. The biopharmaceutical company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.04. Cytokinetics had a negative net margin of 172.27% and a negative return on equity of 62.64%. The firm had revenue of $6.18 million during the quarter, compared to analyst estimates of $5.35 million. research analysts expect that Cytokinetics, Inc. will post -2.4 earnings per share for the current fiscal year.

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Cytokinetics Company Profile

Cytokinetics, Incorporated is a late-stage biopharmaceutical company. The Company is focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions.

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Institutional Ownership by Quarter for Cytokinetics (NASDAQ:CYTK)

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