Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum Sells 5,000 Shares

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

Cytokinetics Stock Performance

NASDAQ CYTK opened at $51.09 on Wednesday. The stock has a market cap of $6.03 billion, a PE ratio of -9.50 and a beta of 0.78. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a twelve month low of $30.68 and a twelve month high of $110.25. The stock has a fifty day simple moving average of $53.94 and a 200-day simple moving average of $55.01.

Cytokinetics (NASDAQ:CYTK) last announced 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 the consensus estimate of $1.21 million. During the same period last year, the business earned ($1.35) EPS. Cytokinetics’s revenue for the quarter was up 22.5% compared to the same quarter last year. Equities analysts anticipate that Cytokinetics, Incorporated will post -4.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

CYTK has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a report on Monday. JPMorgan Chase & Co. lifted their target price on Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Royal Bank of Canada initiated coverage on shares of Cytokinetics in a report on Friday, November 8th. They issued an “outperform” rating and a $80.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. Finally, The Goldman Sachs Group downgraded shares of Cytokinetics from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $85.00 to $60.00 in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.67.

Hedge Funds Weigh In On Cytokinetics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sei Investments Co. raised its position in Cytokinetics by 20.1% in the 1st quarter. Sei Investments Co. now owns 58,314 shares of the biopharmaceutical company’s stock valued at $4,088,000 after purchasing an additional 9,779 shares in the last quarter. US Bancorp DE raised its position in Cytokinetics by 67.2% in the 1st quarter. US Bancorp DE now owns 5,634 shares of the biopharmaceutical company’s stock valued at $395,000 after purchasing an additional 2,265 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in Cytokinetics by 105.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 5,028 shares of the biopharmaceutical company’s stock valued at $353,000 after purchasing an additional 2,577 shares in the last quarter. Bessemer Group Inc. raised its position in Cytokinetics by 25,100.0% in the 1st quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 1,255 shares in the last quarter. Finally, American International Group Inc. raised its position in Cytokinetics by 245.9% in the 1st quarter. American International Group Inc. now owns 176,072 shares of the biopharmaceutical company’s stock valued at $12,344,000 after purchasing an additional 125,172 shares in the last quarter.

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.