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 Friday, November 1st. The shares were sold at an average price of $51.63, for a total value of $258,150.00. Following the sale, the chief executive officer now owns 397,456 shares in the company, valued at approximately $20,520,653.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Cytokinetics Trading Down 0.7 %

NASDAQ:CYTK opened at $51.48 on Tuesday. The stock has a fifty day simple moving average of $54.29 and a 200 day simple moving average of $55.91. The company has a quick ratio of 10.39, a current ratio of 10.39 and a debt-to-equity ratio of 5.93. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of -9.59 and a beta of 0.78. Cytokinetics, Incorporated has a 1-year low of $30.68 and a 1-year high of $110.25.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.25). The firm had revenue of $0.25 million during the quarter, compared to analyst estimates of $7.61 million. During the same quarter last year, the company earned ($1.34) EPS. The company’s quarterly revenue was down 71.3% compared to the same quarter last year. Sell-side analysts forecast that Cytokinetics, Incorporated will post -5.15 earnings per share for the current year.

Institutional Investors Weigh In On Cytokinetics

Institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Cytokinetics during the 1st quarter valued at $813,000. Allspring Global Investments Holdings LLC lifted its position in shares of Cytokinetics by 19.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,416 shares of the biopharmaceutical company’s stock worth $239,000 after buying an additional 558 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Cytokinetics by 10.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,423 shares of the biopharmaceutical company’s stock worth $4,166,000 after buying an additional 5,676 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of Cytokinetics by 240.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 58,437 shares of the biopharmaceutical company’s stock worth $4,097,000 after acquiring an additional 41,275 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its stake in shares of Cytokinetics by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 85,816 shares of the biopharmaceutical company’s stock valued at $6,017,000 after acquiring an additional 1,111 shares in the last quarter.

Analyst Ratings Changes

Several research analysts recently commented on CYTK shares. JMP Securities reiterated a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research note on Wednesday, September 4th. HC Wainwright reiterated a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research note on Thursday, October 17th. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a report on Thursday, October 17th. Finally, The Goldman Sachs Group lowered shares of Cytokinetics from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $85.00 to $60.00 in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.