Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells 3,341 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 3,341 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $43.27, for a total value of $144,565.07. Following the completion of the sale, the executive vice president now owns 64,434 shares in the company, valued at approximately $2,788,059.18. The trade was a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Cytokinetics Stock Up 0.4 %

Shares of NASDAQ CYTK opened at $43.43 on Monday. 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 market capitalization of $5.14 billion, a PE ratio of -8.07 and a beta of 0.95. The stock’s fifty day simple moving average is $46.72 and its two-hundred day simple moving average is $50.75. Cytokinetics, Incorporated has a 12-month low of $40.53 and a 12-month high of $75.71.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CYTK shares. Royal Bank of Canada increased their price target on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a report on Thursday, February 6th. JMP Securities reiterated a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a report on Friday, February 7th. Mizuho increased their price target on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Citigroup assumed coverage on Cytokinetics in a report on Friday, February 7th. They issued a “buy” rating and a $86.00 price target on the stock. Two research 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

Institutional Trading of Cytokinetics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp boosted its position in shares of Cytokinetics by 189.8% in the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 374 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Cytokinetics by 0.4% in the 3rd quarter. MetLife Investment Management LLC now owns 123,308 shares of the biopharmaceutical company’s stock worth $6,511,000 after purchasing an additional 538 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of Cytokinetics by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company’s stock worth $6,750,000 after purchasing an additional 565 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Cytokinetics by 1.9% in the 4th quarter. Arizona State Retirement System now owns 32,366 shares of the biopharmaceutical company’s stock worth $1,522,000 after purchasing an additional 600 shares in the last quarter. Finally, Inspire Investing LLC boosted its position in shares of Cytokinetics by 7.8% in the 4th quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock worth $400,000 after purchasing an additional 616 shares in 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.