Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum Sells 15,000 Shares of Stock

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

Cytokinetics Stock Performance

CYTK stock opened at $40.19 on Tuesday. Cytokinetics, Incorporated has a one year low of $39.81 and a one year high of $75.71. The firm has a 50-day simple moving average of $45.64 and a two-hundred day simple moving average of $49.42. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of -7.47 and a beta of 0.95.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.29) by $0.03. The firm had revenue of $16.93 million during the quarter, compared to analyst estimates of $14.26 million. On average, equities analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Cytokinetics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp lifted its stake in shares of Cytokinetics by 189.8% in 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. Retirement Systems of Alabama boosted its position in shares of Cytokinetics by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company’s stock worth $6,750,000 after acquiring an additional 565 shares in the last quarter. Arizona State Retirement System lifted its position in Cytokinetics by 1.9% in the fourth quarter. Arizona State Retirement System now owns 32,366 shares of the biopharmaceutical company’s stock valued at $1,522,000 after acquiring an additional 600 shares during the last quarter. Inspire Investing LLC raised its position in Cytokinetics by 7.8% in the 4th quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock valued at $400,000 after purchasing an additional 616 shares during the last quarter. Finally, Centricity Wealth Management LLC acquired a new position in shares of Cytokinetics in the fourth quarter valued at approximately $29,000.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CYTK. Evercore ISI raised Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research note on Thursday, February 6th. Royal Bank of Canada lifted their target price on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. HC Wainwright reissued a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a report on Friday, February 28th. Finally, JMP Securities restated a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a research report on Friday, February 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.