Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Sells $253,800.00 in Stock

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

Cytokinetics Price Performance

Shares of NASDAQ CYTK traded down $1.23 during mid-day trading on Monday, hitting $50.63. 1,604,419 shares of the stock traded hands, compared to its average volume of 2,034,507. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. Cytokinetics, Incorporated has a twelve month low of $32.50 and a twelve month high of $110.25. The company has a market cap of $5.98 billion, a PE ratio of -9.42 and a beta of 0.78. The firm has a 50 day simple moving average of $53.21 and a two-hundred day simple moving average of $54.35.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results 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 analyst estimates of $1.21 million. Cytokinetics’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period last year, the firm earned ($1.35) earnings per share. As a group, equities research analysts forecast that Cytokinetics, Incorporated will post -5.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research report on Monday. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. JMP Securities restated a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a research report on Wednesday, September 4th. HC Wainwright restated a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research report on Monday. Finally, Royal Bank of Canada began coverage on Cytokinetics in a report on Friday, November 8th. They issued an “outperform” rating and a $80.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $83.93.

Hedge Funds Weigh In On Cytokinetics

Hedge funds and other institutional investors have recently modified their holdings of the business. Cetera Advisors LLC bought a new stake in Cytokinetics during the 1st quarter valued at $531,000. DNB Asset Management AS boosted its position in Cytokinetics by 9.8% during the second quarter. DNB Asset Management AS now owns 7,231 shares of the biopharmaceutical company’s stock valued at $392,000 after buying an additional 645 shares during the period. First Bank & Trust boosted its position in Cytokinetics by 4.7% during the second 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 during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of Cytokinetics by 402.7% during the second quarter. Harbor Capital Advisors Inc. now owns 17,814 shares of the biopharmaceutical company’s stock worth $965,000 after purchasing an additional 14,270 shares during the period. Finally, Mirador Capital Partners LP boosted its holdings in shares of Cytokinetics by 78.1% during the second quarter. Mirador Capital Partners LP now owns 63,143 shares of the biopharmaceutical company’s stock worth $3,421,000 after purchasing an additional 27,688 shares during the period.

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.