Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Sells $252,750.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 5,000 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $50.55, for a total value of $252,750.00. Following the sale, the chief executive officer now directly owns 397,456 shares in the company, valued at $20,091,400.80. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Cytokinetics Stock Performance

Shares of CYTK stock opened at $47.67 on Friday. The stock has a market cap of $5.63 billion, a PE ratio of -8.86 and a beta of 0.78. The business has a 50-day simple moving average of $53.74 and a 200-day simple moving average of $54.92. 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 $30.68 and a 52-week high of $110.25.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The firm had revenue of $0.46 million during the quarter, compared to analyst estimates of $1.21 million. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same period in the previous year, the business posted ($1.35) earnings per share. On average, equities analysts expect that Cytokinetics, Incorporated will post -5.31 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on CYTK. Mizuho increased their target price on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday. The Goldman Sachs Group cut Cytokinetics from a “buy” rating to a “neutral” rating and dropped their target price for the company from $85.00 to $60.00 in a research report on Tuesday, August 13th. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a research report on Wednesday, September 4th. Royal Bank of Canada began coverage on Cytokinetics in a report on Friday, November 8th. They set an “outperform” rating and a $80.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a report on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Cytokinetics presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Hedge Funds Weigh In On Cytokinetics

Institutional investors and hedge funds have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky increased its stake in shares of Cytokinetics by 12.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 56,885 shares of the biopharmaceutical company’s stock valued at $3,003,000 after purchasing an additional 6,300 shares in the last quarter. Geode Capital Management LLC increased its stake in Cytokinetics by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock worth $150,433,000 after buying an additional 109,938 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Cytokinetics during the 3rd quarter worth approximately $521,000. Two Sigma Advisers LP acquired a new position in shares of Cytokinetics during the 3rd quarter worth approximately $11,336,000. Finally, Stifel Financial Corp boosted its holdings in shares of Cytokinetics by 8.5% during the 3rd quarter. Stifel Financial Corp now owns 25,067 shares of the biopharmaceutical company’s stock worth $1,324,000 after purchasing an additional 1,959 shares during 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.