Cytokinetics, Inc. (NASDAQ:CYTK) SVP Sells $230,700.00 in Stock

Cytokinetics, Inc. (NASDAQ:CYTK) SVP Mark A. Schlossberg sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $23.07, for a total value of $230,700.00. Following the transaction, the senior vice president now directly owns 40,000 shares in the company, valued at approximately $922,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of NASDAQ CYTK opened at $21.62 on Friday. The business’s 50 day moving average is $24.08 and its 200-day moving average is $17.29. Cytokinetics, Inc. has a 1-year low of $7.72 and a 1-year high of $29.20. The firm has a market cap of $1.35 billion, a P/E ratio of -9.65 and a beta of 1.44.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($0.66) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.16). The business had revenue of $3.83 million during the quarter, compared to analysts’ expectations of $4.92 million. On average, research analysts predict that Cytokinetics, Inc. will post -2.05 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Comerica Bank increased its stake in Cytokinetics by 9.6% during the 2nd quarter. Comerica Bank now owns 62,694 shares of the biopharmaceutical company’s stock worth $1,498,000 after acquiring an additional 5,471 shares during the period. Sigma Planning Corp bought a new position in shares of Cytokinetics in the 2nd quarter valued at $229,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Cytokinetics by 35.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,690 shares of the biopharmaceutical company’s stock valued at $134,000 after purchasing an additional 1,477 shares during the last quarter. Granite Investment Advisors LLC increased its stake in shares of Cytokinetics by 16.7% in the 2nd quarter. Granite Investment Advisors LLC now owns 17,500 shares of the biopharmaceutical company’s stock valued at $412,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Cytokinetics by 2.1% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 23,789 shares of the biopharmaceutical company’s stock valued at $561,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 93.65% of the company’s stock.

CYTK has been the subject of several recent analyst reports. Mizuho initiated coverage on Cytokinetics in a report on Saturday, May 23rd. They issued a “buy” rating and a $31.00 price target for the company. Piper Sandler increased their price target on Cytokinetics from $33.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Zacks Investment Research cut Cytokinetics from a “buy” rating to a “hold” rating in a research report on Friday. Raymond James assumed coverage on Cytokinetics in a research report on Friday, July 10th. They set a “strong-buy” rating and a $39.00 price target for the company. Finally, HC Wainwright increased their price target on Cytokinetics from $38.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Cytokinetics currently has an average rating of “Buy” and a consensus price target of $36.50.

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 in which muscle performance is compromised and/or declining. The company is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.

Further Reading: What are the benefits of a balanced fund?

Insider Buying and Selling by Quarter for Cytokinetics (NASDAQ:CYTK)

Receive News & Ratings for Cytokinetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cytokinetics and related companies with MarketBeat.com's FREE daily email newsletter.