Cytokinetics, Incorporated (NASDAQ:CYTK – Get Free Report) CEO Robert Blum sold 7,500 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $77.21, for a total transaction of $579,075.00. Following the transaction, the chief executive officer owned 392,830 shares in the company, valued at $30,330,404.30. This trade represents a 1.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cytokinetics Stock Down 0.1%
CYTK stock opened at $76.76 on Friday. Cytokinetics, Incorporated has a twelve month low of $30.02 and a twelve month high of $80.20. The stock has a market capitalization of $9.55 billion, a price-to-earnings ratio of -11.22 and a beta of 0.38. The firm’s fifty day simple moving average is $68.95 and its two-hundred day simple moving average is $65.72.
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, meeting analysts’ consensus estimates of ($1.67). The firm had revenue of $19.36 million for the quarter, compared to the consensus estimate of $8.52 million. The company’s revenue was up 1112.5% on a year-over-year basis. During the same quarter last year, the firm earned ($1.36) EPS. As a group, equities research analysts expect that Cytokinetics, Incorporated will post -6.27 EPS for the current year.
Institutional Trading of Cytokinetics
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on CYTK shares. Needham & Company LLC boosted their target price on shares of Cytokinetics from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Wells Fargo & Company boosted their target price on shares of Cytokinetics from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. boosted their target price on shares of Cytokinetics from $92.00 to $97.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Wall Street Zen raised shares of Cytokinetics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Robert W. Baird set a $84.00 target price on shares of Cytokinetics in a research note on Tuesday, March 10th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.30.
Read Our Latest Stock Analysis on Cytokinetics
About Cytokinetics
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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