Wendall Wierenga Sells 20,000 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director Wendall Wierenga sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $38.46, for a total value of $769,200.00. Following the completion of the sale, the director now directly owns 24,848 shares in the company, valued at approximately $955,654.08. The trade was a 44.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Cytokinetics Price Performance

CYTK stock opened at $37.81 on Wednesday. The company has a market cap of $4.51 billion, a PE ratio of -7.03 and a beta of 0.94. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The stock has a 50-day moving average price of $42.47 and a two-hundred day moving average price of $47.46. Cytokinetics, Incorporated has a 12-month low of $32.74 and a 12-month high of $68.76.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. As a group, research analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on CYTK shares. Bank of America reduced their price objective on Cytokinetics from $62.00 to $54.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Evercore ISI upgraded shares of Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. Citigroup assumed coverage on shares of Cytokinetics in a report on Friday, February 7th. They set a “buy” rating and a $86.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a research note on Monday. Finally, Morgan Stanley set a $67.00 target price on shares of Cytokinetics in a research note on Friday, March 7th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Cytokinetics has an average rating of “Moderate Buy” and an average target price of $81.63.

Institutional Investors Weigh In On Cytokinetics

Large investors have recently made changes to their positions in the business. Jones Financial Companies Lllp lifted its holdings in shares of Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 374 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Cytokinetics in the fourth quarter valued at about $29,000. Fifth Third Bancorp lifted its stake in shares of Cytokinetics by 42.2% during the first quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 291 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Cytokinetics by 500.5% in the first quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 916 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Cytokinetics by 281.0% in the first quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 826 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.