Cytokinetics, Incorporated (NASDAQ:CYTK – Get Free Report) EVP Sung Lee sold 3,134 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $85.00, for a total transaction of $266,390.00. Following the sale, the executive vice president owned 63,221 shares of the company’s stock, valued at $5,373,785. The trade was a 4.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cytokinetics Stock Performance
NASDAQ CYTK opened at $85.04 on Wednesday. The stock has a market capitalization of $10.58 billion, a P/E ratio of -12.43 and a beta of 0.42. Cytokinetics, Incorporated has a 1 year low of $32.66 and a 1 year high of $88.31. The business’s fifty day moving average is $73.76 and its two-hundred day moving average is $67.28.
Cytokinetics (NASDAQ:CYTK – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, hitting the consensus estimate of ($1.67). The company had revenue of $19.36 million for the quarter, compared to the consensus estimate of $8.52 million. The business’s revenue was up 1112.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.36) earnings per share. On average, research analysts forecast that Cytokinetics, Incorporated will post -6.26 earnings per share for the current year.
Wall Street Analysts Forecast Growth
View Our Latest Stock Analysis on Cytokinetics
Institutional Investors Weigh In On Cytokinetics
Hedge funds have recently bought and sold shares of the business. Seven Fleet Capital Management LP grew its stake in Cytokinetics by 492.8% during the 1st quarter. Seven Fleet Capital Management LP now owns 61,269 shares of the biopharmaceutical company’s stock valued at $4,038,000 after acquiring an additional 50,934 shares in the last quarter. Western Wealth Management LLC purchased a new stake in shares of Cytokinetics in the first quarter worth approximately $53,000. Cim Investment Management Inc. purchased a new stake in shares of Cytokinetics in the first quarter worth approximately $308,000. Janus Henderson Group PLC boosted its holdings in shares of Cytokinetics by 10.1% during the first quarter. Janus Henderson Group PLC now owns 282,121 shares of the biopharmaceutical company’s stock worth $18,593,000 after purchasing an additional 25,909 shares during the period. Finally, Encore Global Management LP acquired a new stake in shares of Cytokinetics during the first quarter worth approximately $330,000.
Cytokinetics Company Profile
Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.
The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.
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