Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Sells $260,700.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 5,000 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $52.14, for a total transaction of $260,700.00. Following the completion of the sale, the chief executive officer now directly owns 397,456 shares in the company, valued at $20,723,355.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Cytokinetics Trading Up 0.0 %

Shares of Cytokinetics stock opened at $52.61 on Thursday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 10.39 and a current ratio of 10.39. The company has a market capitalization of $5.52 billion, a P/E ratio of -9.74 and a beta of 0.77. Cytokinetics, Incorporated has a 1 year low of $25.98 and a 1 year high of $110.25. The company’s fifty day moving average is $55.53 and its two-hundred day moving average is $58.54.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The company had revenue of $0.25 million during the quarter, compared to analysts’ expectations of $7.61 million. During the same quarter in the previous year, the business earned ($1.34) EPS. The firm’s revenue for the quarter was down 71.3% compared to the same quarter last year. Analysts forecast that Cytokinetics, Incorporated will post -5.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CYTK has been the subject of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research note on Tuesday, September 3rd. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research report on Wednesday, September 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a research report on Monday, September 9th. The Goldman Sachs Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $60.00 in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $80.67.

Institutional Investors Weigh In On Cytokinetics

Several large investors have recently modified their holdings of the stock. J.Safra Asset Management Corp increased its stake in Cytokinetics by 642.3% in the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 456 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of Cytokinetics in the first quarter valued at about $74,000. Bessemer Group Inc. increased its stake in shares of Cytokinetics by 25,100.0% during the first quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock worth $88,000 after acquiring an additional 1,255 shares during the period. Quarry LP increased its stake in shares of Cytokinetics by 233.3% during the second quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 1,400 shares during the period. Finally, Cim Investment Management Inc. purchased a new position in Cytokinetics during the fourth quarter worth about $263,000.

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.