Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum Sells 12,648 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 12,648 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $44.38, for a total value of $561,318.24. Following the completion of the transaction, the chief executive officer now owns 326,533 shares of the company’s stock, valued at approximately $14,491,534.54. This represents a 3.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Cytokinetics Price Performance

Shares of NASDAQ CYTK opened at $43.28 on Wednesday. Cytokinetics, Incorporated has a 1-year low of $40.53 and a 1-year high of $75.71. 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 business’s fifty day moving average price is $46.15 and its two-hundred day moving average price is $50.13. The firm has a market capitalization of $5.12 billion, a PE ratio of -8.04 and a beta of 0.95.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.03. The company had revenue of $16.93 million during the quarter, compared to analyst estimates of $14.26 million. On average, research analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Cytokinetics by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock worth $560,520,000 after purchasing an additional 154,216 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Cytokinetics by 11.0% during the fourth 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 buying an additional 1,062,136 shares in the last quarter. Geode Capital Management LLC boosted its stake in Cytokinetics by 4.0% during the third quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock valued at $150,433,000 after buying an additional 109,938 shares in the last quarter. Deep Track Capital LP boosted its stake in Cytokinetics by 296.9% during the fourth quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company’s stock valued at $117,600,000 after buying an additional 1,870,094 shares in the last quarter. Finally, Vestal Point Capital LP boosted its stake in Cytokinetics by 56.7% during the fourth quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company’s stock valued at $110,544,000 after buying an additional 850,000 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. HC Wainwright restated a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a report on Friday, February 28th. Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. Citigroup assumed coverage on Cytokinetics in a research report on Friday, February 7th. They issued a “buy” rating and a $86.00 target price on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research report on Friday, February 7th. Finally, Mizuho upped their price target on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.00.

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.