Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Sells $258,150.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 5,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $51.63, for a total transaction of $258,150.00. Following the completion of the transaction, the chief executive officer now directly owns 397,456 shares of the company’s stock, valued at approximately $20,520,653.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Cytokinetics Stock Performance

NASDAQ CYTK opened at $52.52 on Wednesday. The business’s 50-day moving average price is $54.18 and its 200 day moving average price is $55.80. The company has a current ratio of 10.39, a quick ratio of 10.39 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a twelve month low of $30.68 and a twelve month high of $110.25. The company has a market capitalization of $6.18 billion, a PE ratio of -9.78 and a beta of 0.78.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The firm had revenue of $0.25 million for the quarter, compared to analyst estimates of $7.61 million. During the same quarter in the prior year, the firm posted ($1.34) EPS. Cytokinetics’s revenue for the quarter was down 71.3% on a year-over-year basis. On average, research analysts predict that Cytokinetics, Incorporated will post -5.15 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CYTK. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a research note on Thursday, October 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. JMP Securities reissued a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research note on Wednesday, September 4th. Needham & Company LLC restated a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. increased their price target on shares of Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Institutional Trading of Cytokinetics

Several institutional investors have recently made changes to their positions in CYTK. Darwin Global Management Ltd. acquired a new position in Cytokinetics in the second quarter valued at $246,074,000. Integral Health Asset Management LLC raised its holdings in shares of Cytokinetics by 122.2% in the 2nd quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $54,180,000 after purchasing an additional 550,000 shares during the period. Hood River Capital Management LLC lifted its stake in shares of Cytokinetics by 5.9% in the 2nd quarter. Hood River Capital Management LLC now owns 737,637 shares of the biopharmaceutical company’s stock valued at $39,965,000 after purchasing an additional 40,990 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Cytokinetics during the 1st quarter worth about $51,277,000. Finally, Great Point Partners LLC raised its holdings in Cytokinetics by 134.5% in the second quarter. Great Point Partners LLC now owns 474,202 shares of the biopharmaceutical company’s stock valued at $25,692,000 after buying an additional 272,000 shares during the period.

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.