Cytokinetics, Incorporated (NASDAQ:CYTK – Get Free Report) Director Edward Md Kaye sold 2,933 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $76.09, for a total transaction of $223,171.97. Following the completion of the transaction, the director owned 10,283 shares in the company, valued at approximately $782,433.47. This represents a 22.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cytokinetics Price Performance
Shares of CYTK stock traded down $3.08 during trading hours on Monday, hitting $73.68. The company had a trading volume of 1,659,872 shares, compared to its average volume of 2,198,320. The company’s fifty day moving average is $68.95 and its 200 day moving average is $65.75. Cytokinetics, Incorporated has a fifty-two week low of $30.55 and a fifty-two week high of $80.20. The stock has a market capitalization of $9.17 billion, a PE ratio of -10.77 and a beta of 0.42.
Cytokinetics (NASDAQ:CYTK – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) EPS for the quarter, hitting the consensus estimate of ($1.67). The company had revenue of $19.36 million during the quarter, compared to analyst estimates of $8.52 million. During the same quarter in the prior year, the company posted ($1.36) earnings per share. The business’s revenue was up 1112.5% compared to the same quarter last year. Equities analysts forecast that Cytokinetics, Incorporated will post -6.27 earnings per share for the current year.
Institutional Investors Weigh In On Cytokinetics
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on CYTK shares. Royal Bank Of Canada upped their price objective on shares of Cytokinetics from $101.00 to $119.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Robert W. Baird set a $84.00 target price on shares of Cytokinetics in a research note on Tuesday, March 10th. Wall Street Zen raised shares of Cytokinetics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. UBS Group set a $119.00 target price on shares of Cytokinetics in a research note on Wednesday, May 6th. Finally, Morgan Stanley upped their target price on shares of Cytokinetics from $90.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.30.
View Our Latest Analysis on CYTK
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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