Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum Sells 12,648 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 12,648 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $44.38, for a total value of $561,318.24. Following the completion of the transaction, the chief executive officer now owns 326,533 shares of the company’s stock, valued at approximately $14,491,534.54. This represents a 3.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Cytokinetics Trading Up 1.2 %

Shares of NASDAQ CYTK opened at $44.91 on Tuesday. Cytokinetics, Incorporated has a one year low of $40.53 and a one year high of $75.71. The firm has a market capitalization of $5.32 billion, a PE ratio of -8.35 and a beta of 0.95. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The business has a 50-day moving average price of $46.26 and a two-hundred day moving average price of $50.23.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Citigroup initiated coverage on Cytokinetics in a research report on Friday, February 7th. They issued a “buy” rating and a $86.00 target price on the stock. Royal Bank of Canada increased their target price on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. HC Wainwright reissued a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research note on Friday, February 28th. Stifel Nicolaus initiated coverage on Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price target for the company. Finally, Morgan Stanley set a $67.00 target price on Cytokinetics in a report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cytokinetics has a consensus rating of “Moderate Buy” and an average target price of $82.00.

Institutional Investors Weigh In On Cytokinetics

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