Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Sells $737,176.80 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 16,970 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $43.44, for a total transaction of $737,176.80. Following the completion of the sale, the chief executive officer now directly owns 364,181 shares of the company’s stock, valued at $15,820,022.64. This trade represents a 4.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Cytokinetics Stock Up 0.4 %

Shares of Cytokinetics stock opened at $43.43 on Monday. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The company has a 50-day moving average of $46.72 and a 200 day moving average of $50.75. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of -8.07 and a beta of 0.95. Cytokinetics, Incorporated has a 1 year low of $40.53 and a 1 year high of $75.71.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.29) by $0.03. The business had revenue of $16.93 million during the quarter, compared to the consensus estimate of $14.26 million. As a group, sell-side analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CYTK. HC Wainwright reissued a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a research report on Friday, February 28th. Mizuho increased their price target 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. Needham & Company LLC reissued a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research report on Thursday, February 6th. Morgan Stanley raised shares of Cytokinetics from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $70.00 to $67.00 in a research report on Thursday, February 13th. Finally, Citigroup began coverage on shares of Cytokinetics in a research report on Friday, February 7th. They set a “buy” rating and a $86.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $82.00.

Institutional Trading of Cytokinetics

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Cytokinetics by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock valued at $560,520,000 after acquiring an additional 154,216 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Cytokinetics by 11.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company’s stock valued at $505,780,000 after acquiring an additional 1,062,136 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 109,938 shares during the last quarter. Deep Track Capital LP boosted its holdings in shares of Cytokinetics by 296.9% during the 4th quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company’s stock valued at $117,600,000 after acquiring an additional 1,870,094 shares during the last quarter. Finally, Vestal Point Capital LP boosted its holdings in shares of 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 buying an additional 850,000 shares during the last quarter.

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.