Cytokinetics, Incorporated (NASDAQ:CYTK) Director Sells $89,747.60 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director John T. Henderson sold 1,780 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $50.42, for a total value of $89,747.60. Following the completion of the sale, the director now directly owns 38,461 shares in the company, valued at approximately $1,939,203.62. The trade was a 4.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Cytokinetics Stock Performance

Shares of Cytokinetics stock opened at $48.65 on Friday. Cytokinetics, Incorporated has a one year low of $32.70 and a one year high of $110.25. The company has a market cap of $5.74 billion, a price-to-earnings ratio of -9.04 and a beta of 0.80. 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 business’s 50 day moving average price is $52.64 and its 200 day moving average price is $54.00.

Cytokinetics (NASDAQ:CYTK) last announced 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 company had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $1.21 million. During the same quarter last year, the firm posted ($1.35) EPS. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. On average, research analysts predict that Cytokinetics, Incorporated will post -5.25 EPS for the current year.

Institutional Investors Weigh In On Cytokinetics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Exome Asset Management LLC purchased a new stake in Cytokinetics in the third quarter valued at $3,093,000. Retirement Systems of Alabama raised its position in Cytokinetics by 1.0% in the third quarter. Retirement Systems of Alabama now owns 142,930 shares of the biopharmaceutical company’s stock valued at $7,547,000 after purchasing an additional 1,414 shares during the period. Teachers Retirement System of The State of Kentucky raised its position in Cytokinetics by 12.5% in the third 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 during the period. Geode Capital Management LLC raised its position in Cytokinetics by 4.0% in the third quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock valued at $150,433,000 after purchasing an additional 109,938 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Cytokinetics in the third quarter valued at $521,000.

Analyst Ratings Changes

Several brokerages have commented on CYTK. HC Wainwright reissued a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a report on Monday, December 2nd. Mizuho lifted their price target on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Royal Bank of Canada started 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. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research note on Wednesday, September 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research note on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

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.