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

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

Cytokinetics Price Performance

Cytokinetics stock traded up $0.55 during midday trading on Monday, reaching $44.91. 1,189,106 shares of the stock were exchanged, compared to its average volume of 1,476,261. The company’s fifty day moving average is $46.26 and its 200-day moving average is $50.23. The firm has a market cap of $5.32 billion, a PE ratio of -8.35 and a beta of 0.95. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. Cytokinetics, Incorporated has a 52 week low of $40.53 and a 52 week high of $75.71.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data 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 business had revenue of $16.93 million for the quarter, compared to the consensus estimate of $14.26 million. On average, sell-side analysts forecast that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Royal Bank of Canada raised their price objective on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Citigroup initiated coverage on shares of Cytokinetics in a research note on Friday, February 7th. They set a “buy” rating and a $86.00 price target for the company. Needham & Company LLC reissued a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a report on Thursday, February 6th. Mizuho raised their target price on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Stifel Nicolaus assumed coverage on Cytokinetics in a research report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 price target on the stock. Two investment 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. According to MarketBeat.com, Cytokinetics presently has an average rating of “Moderate Buy” and an average target price of $82.00.

Institutional Trading of Cytokinetics

A number of large investors have recently modified their holdings of the business. Jones Financial Companies Lllp lifted its holdings in shares of Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 374 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in Cytokinetics during the fourth quarter valued at about $29,000. AlphaQuest LLC lifted its stake in Cytokinetics by 113,500.0% during the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 1,135 shares during the last quarter. J.Safra Asset Management Corp lifted its stake in Cytokinetics by 62.1% during the fourth quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 671 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Cytokinetics by 85.8% in the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company’s stock worth $86,000 after purchasing an additional 842 shares in the last quarter.

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.