Robert Arthur Harrington Sells 450 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director Robert Arthur Harrington sold 450 shares of Cytokinetics stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $39.43, for a total transaction of $17,743.50. Following the completion of the sale, the director now directly owns 14,658 shares of the company’s stock, valued at approximately $577,964.94. This trade represents a 2.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Cytokinetics Stock Performance

Shares of Cytokinetics stock opened at $37.36 on Friday. The company has a 50 day moving average price of $44.93 and a 200 day moving average price of $49.03. The firm has a market capitalization of $4.42 billion, a P/E ratio of -6.94 and a beta of 0.94. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 52 week low of $36.89 and a 52 week high of $75.71.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, beating the consensus estimate of ($1.29) by $0.03. The firm had revenue of $16.93 million for the quarter, compared to analysts’ expectations of $14.26 million. Sell-side analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CYTK shares. JMP Securities reissued a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Friday, February 7th. Evercore ISI raised shares of Cytokinetics to a “strong-buy” rating in a research report on Friday, February 7th. Royal Bank of Canada upped their price objective on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. HC Wainwright reiterated a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research report on Friday. Finally, Citigroup initiated coverage on Cytokinetics in a research report on Friday, February 7th. They issued a “buy” rating and a $86.00 price target for the company. Two investment 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.00.

Institutional Investors Weigh In On Cytokinetics

Several hedge funds have recently bought and sold shares of CYTK. GF Fund Management CO. LTD. acquired a new position in shares of Cytokinetics during the 4th quarter worth approximately $117,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new stake in Cytokinetics in the 4th quarter worth $15,483,000. Vestal Point Capital LP raised its position in Cytokinetics by 56.7% during the fourth quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company’s stock worth $110,544,000 after acquiring an additional 850,000 shares during the period. Two Sigma Advisers LP lifted its holdings in Cytokinetics by 5.4% during the fourth quarter. Two Sigma Advisers LP now owns 226,400 shares of the biopharmaceutical company’s stock valued at $10,650,000 after purchasing an additional 11,700 shares in the last quarter. Finally, Teza Capital Management LLC acquired a new stake in shares of Cytokinetics in the fourth quarter valued at about $446,000.

Cytokinetics Company 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.