Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Sells 5,000 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 5,000 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $33.80, for a total value of $169,000.00. Following the completion of the sale, the chief executive officer now owns 403,108 shares in the company, valued at approximately $13,625,050.40. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Cytokinetics Price Performance

Cytokinetics stock traded down $0.60 during mid-day trading on Monday, reaching $33.78. The company had a trading volume of 1,609,818 shares, compared to its average volume of 1,557,091. The stock’s 50-day simple moving average is $34.83 and its 200-day simple moving average is $42.26. Cytokinetics, Incorporated has a 1 year low of $29.31 and a 1 year high of $61.38. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The company has a market capitalization of $4.03 billion, a P/E ratio of -6.28 and a beta of 0.59.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.41) by $0.05. The firm had revenue of $1.60 million during the quarter, compared to analyst estimates of $2.77 million. The business’s revenue was up 89.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.33) EPS. On average, equities analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Institutional Trading of Cytokinetics

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Cytokinetics by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock worth $560,520,000 after buying an additional 154,216 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in Cytokinetics by 11.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company’s stock worth $505,780,000 after acquiring an additional 1,062,136 shares during the last quarter. Vestal Point Capital LP lifted its holdings in shares of Cytokinetics by 10.2% in the first quarter. Vestal Point Capital LP now owns 2,590,531 shares of the biopharmaceutical company’s stock valued at $104,113,000 after purchasing an additional 240,531 shares in the last quarter. Deep Track Capital LP grew its position in shares of Cytokinetics by 296.9% in the fourth quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company’s stock valued at $117,600,000 after purchasing an additional 1,870,094 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Cytokinetics by 14.9% during the 4th quarter. Marshall Wace LLP now owns 2,153,313 shares of the biopharmaceutical company’s stock worth $101,292,000 after purchasing an additional 279,612 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CYTK. Royal Bank of Canada decreased their price objective on Cytokinetics from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Mizuho decreased their price target on shares of Cytokinetics from $103.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, May 29th. HC Wainwright reiterated a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a report on Monday, April 21st. JPMorgan Chase & Co. dropped their price objective on Cytokinetics from $71.00 to $53.00 and set an “overweight” rating on the stock in a report on Monday, June 9th. Finally, UBS Group cut their price target on Cytokinetics from $47.00 to $41.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.92.

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.