Wendall Wierenga Sells 742 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director Wendall Wierenga sold 742 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $48.61, for a total transaction of $36,068.62. Following the completion of the sale, the director now directly owns 24,559 shares in the company, valued at approximately $1,193,812.99. This trade represents a 2.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Wendall Wierenga also recently made the following trade(s):

• On Monday, October 28th, Wendall Wierenga sold 4,452 shares of Cytokinetics stock. The shares were sold at an average price of $52.25, for a total transaction of $232,617.00.

Cytokinetics Price Performance

Shares of CYTK stock opened at $46.36 on Thursday. The company has a market capitalization of $5.47 billion, a P/E ratio of -8.62 and a beta of 0.80. 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 of $52.22 and a two-hundred day moving average of $54.03. Cytokinetics, Incorporated has a 12 month low of $32.70 and a 12 month high of $110.25.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The business had revenue of $0.46 million during the quarter, compared to the consensus estimate of $1.21 million. During the same quarter last year, the firm earned ($1.35) earnings per share. The company’s quarterly revenue was up 22.5% on a year-over-year basis. As a group, equities analysts expect that Cytokinetics, Incorporated will post -5.25 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CYTK. Royal Bank of Canada lifted their price objective on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday. HC Wainwright restated a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a report on Monday, December 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. Needham & Company LLC restated a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research note on Monday, December 2nd. Finally, Mizuho upped their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. One investment 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.07.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Exome Asset Management LLC acquired a new stake in shares of Cytokinetics in the third quarter valued at $3,093,000. Retirement Systems of Alabama grew its stake in shares of Cytokinetics by 1.0% during 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 last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in shares of 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 in the last quarter. Geode Capital Management LLC raised its position in Cytokinetics by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock worth $150,433,000 after purchasing an additional 109,938 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Cytokinetics during the 3rd quarter worth $521,000.

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.