Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Sells $260,700.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $52.14, for a total value of $260,700.00. Following the sale, the chief executive officer now owns 397,456 shares in the company, valued at $20,723,355.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Cytokinetics Stock Performance

NASDAQ:CYTK traded up $0.46 during mid-day trading on Monday, hitting $52.80. The stock had a trading volume of 1,057,240 shares, compared to its average volume of 2,234,167. The company has a 50 day simple moving average of $55.71 and a 200-day simple moving average of $58.67. Cytokinetics, Incorporated has a 52 week low of $25.98 and a 52 week high of $110.25. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of -9.78 and a beta of 0.77. The company has a current ratio of 10.39, a quick ratio of 10.39 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The company had revenue of $0.25 million during the quarter, compared to analysts’ expectations of $7.61 million. During the same quarter in the prior year, the company posted ($1.34) EPS. Cytokinetics’s revenue for the quarter was down 71.3% compared to the same quarter last year. On average, research analysts expect that Cytokinetics, Incorporated will post -5.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cytokinetics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ghisallo Capital Management LLC acquired a new stake in shares of Cytokinetics in the 2nd quarter worth approximately $10,619,000. Cetera Investment Advisers raised its holdings in Cytokinetics by 128.5% during the second quarter. Cetera Investment Advisers now owns 27,320 shares of the biopharmaceutical company’s stock worth $1,480,000 after purchasing an additional 15,366 shares in the last quarter. Quarry LP lifted its position in Cytokinetics by 233.3% in the second quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 1,400 shares during the period. Creative Planning boosted its stake in Cytokinetics by 56.1% during the 2nd quarter. Creative Planning now owns 15,727 shares of the biopharmaceutical company’s stock valued at $852,000 after purchasing an additional 5,649 shares in the last quarter. Finally, Clearline Capital LP boosted its stake in Cytokinetics by 332.4% during the 2nd quarter. Clearline Capital LP now owns 207,695 shares of the biopharmaceutical company’s stock valued at $11,253,000 after purchasing an additional 159,660 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CYTK shares. Needham & Company LLC reissued a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research report on Tuesday, September 3rd. HC Wainwright reaffirmed a “buy” rating and set a $90.00 target price on shares of Cytokinetics in a research report on Monday. JPMorgan Chase & Co. raised their price objective on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research report on Monday, September 9th. Finally, The Goldman Sachs Group lowered shares of Cytokinetics from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $85.00 to $60.00 in a research note 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $80.67.

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.