Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Sells $611,250.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 15,000 shares of Cytokinetics stock in a transaction on Monday, March 31st. The stock was sold at an average price of $40.75, for a total value of $611,250.00. Following the sale, the chief executive officer now owns 427,629 shares in the company, valued at $17,425,881.75. This trade represents a 3.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Cytokinetics Stock Performance

NASDAQ CYTK opened at $37.50 on Wednesday. Cytokinetics, Incorporated has a 52-week low of $37.46 and a 52-week high of $75.71. The company has a fifty day moving average of $45.47 and a 200-day moving average of $49.29. The company has a market capitalization of $4.44 billion, a P/E ratio of -6.97 and a beta of 0.95. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.03. The firm had revenue of $16.93 million during the quarter, compared to analysts’ expectations of $14.26 million. As a group, equities research analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CYTK. Jones Financial Companies Lllp grew its holdings in shares of Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 374 shares during the last quarter. Centricity Wealth Management LLC bought a new position in shares of Cytokinetics during the fourth quarter valued at about $29,000. AlphaQuest LLC increased its holdings in shares of Cytokinetics by 113,500.0% in the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 1,135 shares during the period. J.Safra Asset Management Corp increased its holdings in shares of Cytokinetics by 62.1% in the fourth quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company’s stock worth $83,000 after buying an additional 671 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Cytokinetics by 85.8% during the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company’s stock valued at $86,000 after acquiring an additional 842 shares during the period.

Analyst Ratings Changes

Several brokerages have recently issued reports on CYTK. Morgan Stanley set a $67.00 target price on Cytokinetics in a research report on Friday, March 7th. HC Wainwright restated a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a report on Friday, February 28th. Royal Bank of Canada boosted their target price on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Evercore ISI raised shares of Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. Finally, Stifel Nicolaus assumed coverage on Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cytokinetics has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

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.