Robert Blum Sells 5,000 Shares of Cytokinetics (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert Blum sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $60.03, for a total value of $300,150.00. Following the transaction, the chief executive officer directly owned 363,108 shares of the company’s stock, valued at approximately $21,797,373.24. This trade represents a 1.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cytokinetics Stock Down 0.9%

NASDAQ:CYTK opened at $58.44 on Friday. Cytokinetics, Incorporated has a twelve month low of $29.31 and a twelve month high of $63.86. The business has a 50 day moving average price of $48.49 and a two-hundred day moving average price of $39.80. The company has a market cap of $6.99 billion, a P/E ratio of -11.46 and a beta of 0.67.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.34) by $0.22. The firm had revenue of $66.77 million for the quarter, compared to analyst estimates of $1.95 million. During the same period last year, the company earned ($1.31) EPS. The company’s revenue was up 26727.3% compared to the same quarter last year. As a group, analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cytokinetics

A number of large investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp raised its stake in Cytokinetics by 42.2% in the 1st quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 291 shares during the period. Louisiana State Employees Retirement System raised its stake in Cytokinetics by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 33,100 shares of the biopharmaceutical company’s stock valued at $1,330,000 after acquiring an additional 300 shares during the period. State of Michigan Retirement System raised its stake in Cytokinetics by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 28,200 shares of the biopharmaceutical company’s stock valued at $1,133,000 after acquiring an additional 300 shares during the period. Teacher Retirement System of Texas raised its stake in Cytokinetics by 1.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 30,514 shares of the biopharmaceutical company’s stock valued at $1,008,000 after acquiring an additional 341 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in Cytokinetics by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 13,820 shares of the biopharmaceutical company’s stock valued at $555,000 after acquiring an additional 365 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. B. Riley upped their price target on Cytokinetics from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. HC Wainwright reiterated a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a research note on Monday, September 29th. JMP Securities reiterated a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research note on Tuesday, September 2nd. Citigroup upped their price objective on Cytokinetics from $77.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. Finally, Stifel Nicolaus upped their price objective on Cytokinetics from $87.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.64.

Cytokinetics Company Profile

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.