Cytokinetics, Incorporated (NASDAQ:CYTK – Get Free Report) CEO Robert I. Blum sold 11,500 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $54.29, for a total transaction of $624,335.00. Following the sale, the chief executive officer now directly owns 399,412 shares in the company, valued at approximately $21,684,077.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Cytokinetics Price Performance
NASDAQ:CYTK opened at $56.30 on Friday. The firm’s fifty day moving average price is $55.09 and its 200 day moving average price is $67.88. Cytokinetics, Incorporated has a 1-year low of $25.98 and a 1-year high of $110.25. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of -10.43 and a beta of 0.75.
Cytokinetics (NASDAQ:CYTK – Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.17). The company had revenue of $0.84 million for the quarter, compared to analysts’ expectations of $0.91 million. During the same quarter last year, the business posted ($1.38) EPS. Cytokinetics’s revenue was down 81.8% compared to the same quarter last year. As a group, analysts expect that Cytokinetics, Incorporated will post -4.5 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Cytokinetics
Analyst Ratings Changes
Several analysts have recently issued reports on the stock. Bank of America reduced their price target on shares of Cytokinetics from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, May 23rd. Oppenheimer reduced their price target on shares of Cytokinetics from $107.00 to $106.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Barclays reduced their price target on shares of Cytokinetics from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. B. Riley reduced their price target on shares of Cytokinetics from $122.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. Finally, Raymond James reduced their target price on shares of Cytokinetics from $92.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cytokinetics presently has a consensus rating of “Moderate Buy” and an average target price of $77.06.
Check Out Our Latest Research Report on Cytokinetics
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.
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