Cytokinetics, Incorporated (NASDAQ:CYTK – Get Free Report) CEO Robert Blum sold 7,500 shares of Cytokinetics stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $82.02, for a total transaction of $615,150.00. Following the sale, the chief executive officer owned 377,820 shares of the company’s stock, valued at approximately $30,988,796.40. This represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cytokinetics Stock Performance
Shares of Cytokinetics stock traded down $0.31 on Tuesday, reaching $81.93. The company had a trading volume of 1,439,489 shares, compared to its average volume of 2,228,710. The firm’s 50 day moving average price is $77.62 and its two-hundred day moving average price is $68.72. Cytokinetics, Incorporated has a 52-week low of $32.89 and a 52-week high of $88.31. The firm has a market cap of $10.19 billion, a PE ratio of -11.98 and a beta of 0.42.
Cytokinetics (NASDAQ:CYTK – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, hitting analysts’ consensus estimates of ($1.67). The company had revenue of $19.36 million for the quarter, compared to analysts’ expectations of $8.52 million. The business’s revenue for the quarter was up 1112.5% on a year-over-year basis. During the same period in the previous year, the business posted ($1.36) EPS. As a group, sell-side analysts predict that Cytokinetics, Incorporated will post -6.22 EPS for the current year.
Analyst Ratings Changes
Check Out Our Latest Report on CYTK
Institutional Trading of Cytokinetics
A number of large investors have recently made changes to their positions in the company. Kemnay Advisory Services Inc. purchased a new position in Cytokinetics in the fourth quarter worth approximately $27,000. Kestra Advisory Services LLC purchased a new stake in shares of Cytokinetics in the 4th quarter valued at approximately $29,000. TD Waterhouse Canada Inc. acquired a new stake in shares of Cytokinetics in the 4th quarter valued at $32,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Cytokinetics by 46.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 171 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Cytokinetics during the 3rd quarter worth $30,000.
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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