Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum Sells 5,000 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $50.76, for a total transaction of $253,800.00. Following the sale, the chief executive officer now owns 397,678 shares in the company, valued at approximately $20,186,135.28. The trade was a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Cytokinetics Price Performance

Shares of NASDAQ CYTK opened at $51.51 on Wednesday. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 12 month low of $32.50 and a 12 month high of $110.25. The stock has a 50 day moving average of $53.18 and a 200-day moving average of $54.28.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The business had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $1.21 million. Cytokinetics’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same period last year, the business posted ($1.35) earnings per share. On average, equities analysts expect that Cytokinetics, Incorporated will post -5.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CYTK has been the topic of several recent research reports. Royal Bank of Canada initiated coverage on Cytokinetics in a research note on Friday, November 8th. They issued an “outperform” rating and a $80.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. HC Wainwright reaffirmed a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a research note on Monday. Mizuho boosted their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Cytokinetics presently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Louisiana State Employees Retirement System boosted its holdings in shares of Cytokinetics by 0.6% during the third quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the biopharmaceutical company’s stock worth $1,721,000 after acquiring an additional 200 shares during the period. UMB Bank n.a. boosted its stake in Cytokinetics by 65.6% in the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 238 shares during the period. First Bank & Trust grew its holdings in Cytokinetics by 4.7% in the 2nd quarter. First Bank & Trust now owns 6,757 shares of the biopharmaceutical company’s stock valued at $366,000 after buying an additional 303 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Cytokinetics by 2.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 15,062 shares of the biopharmaceutical company’s stock worth $795,000 after buying an additional 430 shares during the period. Finally, J.Safra Asset Management Corp lifted its holdings in shares of Cytokinetics by 642.3% during the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 456 shares in the last quarter.

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.