Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum Sells 5,000 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $50.76, for a total transaction of $253,800.00. Following the completion of the transaction, the chief executive officer now owns 397,678 shares of the company’s stock, valued at approximately $20,186,135.28. The trade was a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Cytokinetics Trading Down 2.4 %

CYTK stock traded down $1.23 during midday trading on Monday, hitting $50.63. 1,604,419 shares of the company’s stock were exchanged, compared to its average volume of 2,034,507. Cytokinetics, Incorporated has a 1-year low of $32.50 and a 1-year high of $110.25. 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 business has a 50-day simple moving average of $53.21 and a two-hundred day simple moving average of $54.35. The stock has a market capitalization of $5.98 billion, a PE ratio of -9.42 and a beta of 0.78.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The firm had revenue of $0.46 million during the quarter, compared to analyst estimates of $1.21 million. During the same period in the prior year, the firm earned ($1.35) earnings per share. The business’s revenue was up 22.5% on a year-over-year basis. On average, sell-side analysts predict that Cytokinetics, Incorporated will post -5.25 EPS for the current fiscal year.

Institutional Trading of Cytokinetics

Several large investors have recently modified their holdings of CYTK. J.Safra Asset Management Corp raised its holdings in shares of Cytokinetics by 642.3% during the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 456 shares during the last quarter. UMB Bank n.a. boosted its position in Cytokinetics by 65.6% during the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 238 shares during the period. Blue Trust Inc. boosted its position in Cytokinetics by 225.9% during the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 680 shares during the period. Values First Advisors Inc. acquired a new stake in Cytokinetics during the 3rd quarter worth about $54,000. Finally, Quarry LP boosted its position in Cytokinetics by 233.3% during the 2nd quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 1,400 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CYTK shares. Royal Bank of Canada started coverage on Cytokinetics in a research report on Friday, November 8th. They issued an “outperform” rating and a $80.00 price objective for the company. Mizuho raised their price target on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. boosted their price target on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research report on Wednesday, September 4th. Finally, The Goldman Sachs Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $85.00 to $60.00 in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.93.

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.