Cytokinetics, Incorporated (NASDAQ:CYTK) insider Caryn Gordon Mcdowell sold 11,348 shares of Cytokinetics, stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $12.47, for a total value of $141,509.56. Following the transaction, the insider now owns 21,570 shares of the company’s stock, valued at approximately $268,977.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Cytokinetics, Incorporated (NASDAQ CYTK) traded up 1.25% during trading on Friday, hitting $12.15. The stock had a trading volume of 629,882 shares. The firm’s market cap is $652.04 million. Cytokinetics, Incorporated has a 52-week low of $8.51 and a 52-week high of $17.20. The stock has a 50 day moving average of $13.43 and a 200 day moving average of $13.03.
Cytokinetics, (NASDAQ:CYTK) last announced its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by $0.03. The firm had revenue of $3.05 million for the quarter, compared to the consensus estimate of $5.28 million. Cytokinetics, had a negative net margin of 16.00% and a negative return on equity of 14.15%. On average, equities analysts anticipate that Cytokinetics, Incorporated will post ($2.08) EPS for the current year.
A number of equities analysts have issued reports on CYTK shares. HC Wainwright reiterated a “buy” rating and set a $25.00 price target on shares of Cytokinetics, in a research note on Tuesday, April 25th. Zacks Investment Research downgraded Cytokinetics, from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 4th. Cowen and Company reiterated an “outperform” rating and set a $19.00 price target (up previously from $17.00) on shares of Cytokinetics, in a research note on Saturday, April 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics, in a research note on Friday, May 19th. Finally, ValuEngine upgraded Cytokinetics, from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $21.30.
Several large investors have recently made changes to their positions in CYTK. Alambic Investment Management L.P. increased its stake in shares of Cytokinetics, by 115.9% in the first quarter. Alambic Investment Management L.P. now owns 28,500 shares of the biopharmaceutical company’s stock valued at $366,000 after buying an additional 15,300 shares during the period. Norges Bank purchased a new stake in shares of Cytokinetics, during the fourth quarter valued at $976,000. Piermont Capital Management Inc. purchased a new stake in shares of Cytokinetics, during the first quarter valued at $612,000. Capital Fund Management S.A. purchased a new stake in shares of Cytokinetics, during the first quarter valued at $213,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Cytokinetics, during the second quarter valued at $436,000. 59.76% of the stock is owned by institutional investors.
Cytokinetics, Incorporated is a late-stage biopharmaceutical company. The Company is focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions.
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