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 business’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 transaction of $561,318.24. Following the completion of the sale, the chief executive officer now owns 326,533 shares of the company’s stock, valued at approximately $14,491,534.54. The trade was a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Cytokinetics Stock Up 1.2 %

Shares of CYTK traded up $0.55 on Monday, reaching $44.91. The stock had a trading volume of 1,189,106 shares, compared to its average volume of 1,476,261. The firm has a market capitalization of $5.32 billion, a price-to-earnings ratio of -8.35 and a beta of 0.95. The company has a 50-day simple moving average of $46.26 and a 200-day simple moving average of $50.23. Cytokinetics, Incorporated has a 12-month low of $40.53 and a 12-month high of $75.71. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, beating the consensus estimate of ($1.29) by $0.03. The firm had revenue of $16.93 million for the quarter, compared to analysts’ expectations of $14.26 million. Sell-side analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Institutional Investors Weigh In On Cytokinetics

Several hedge funds have recently bought and sold shares of CYTK. Vanguard Group Inc. increased its stake in shares of Cytokinetics by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock valued at $560,520,000 after purchasing an additional 154,216 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Cytokinetics by 11.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company’s stock worth $505,780,000 after buying an additional 1,062,136 shares during the last quarter. Geode Capital Management LLC increased its position 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 valued at $150,433,000 after buying an additional 109,938 shares in the last quarter. Deep Track Capital LP raised its stake in Cytokinetics by 296.9% during the fourth quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company’s stock valued at $117,600,000 after buying an additional 1,870,094 shares during the last quarter. Finally, Vestal Point Capital LP boosted its holdings in Cytokinetics by 56.7% in the fourth quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company’s stock worth $110,544,000 after acquiring an additional 850,000 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CYTK shares. HC Wainwright reiterated a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a research report on Friday, February 28th. Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a research report on Friday, February 7th. JMP Securities reiterated a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a report on Friday, February 7th. Mizuho boosted their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, Stifel Nicolaus initiated coverage on shares of Cytokinetics in a report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 target price for the company. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cytokinetics currently has an average rating of “Moderate Buy” and an average target price 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.