Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Sells $501,100.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK – Get Rating) CEO Robert I. Blum sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $50.11, for a total value of $501,100.00. Following the completion of the transaction, the chief executive officer now owns 409,124 shares in the company, valued at approximately $20,501,203.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Cytokinetics Stock Performance

Shares of Cytokinetics stock opened at $50.68 on Friday. The business’s fifty day simple moving average is $44.48 and its 200-day simple moving average is $40.28. The company has a quick ratio of 9.01, a current ratio of 9.01 and a debt-to-equity ratio of 1.77. The firm has a market cap of $4.77 billion, a PE ratio of -19.57 and a beta of 1.14. Cytokinetics, Incorporated has a 52 week low of $29.10 and a 52 week high of $54.74.

Cytokinetics (NASDAQ:CYTK – Get Rating) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.81. The company had revenue of $88.97 million for the quarter, compared to analysts’ expectations of $3.73 million. Cytokinetics had a negative net margin of 142.85% and a negative return on equity of 118.37%. Cytokinetics’s revenue for the quarter was up 3029.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.86) earnings per share. Equities analysts forecast that Cytokinetics, Incorporated will post -3.71 earnings per share for the current year.

Analyst Ratings Changes

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A number of brokerages have weighed in on CYTK. Morgan Stanley raised their price objective on Cytokinetics from $11.00 to $15.00 in a report on Friday, August 12th. HC Wainwright restated a “buy” rating and set a $75.00 price target on shares of Cytokinetics in a research report on Tuesday, May 24th. Piper Sandler increased their price objective on shares of Cytokinetics from $50.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, June 9th. Mizuho boosted their target price on Cytokinetics from $54.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, May 16th. Finally, Needham & Company LLC upped their price target on Cytokinetics from $52.00 to $60.00 in a research report on Thursday, May 5th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Cytokinetics currently has an average rating of “Moderate Buy” and an average price target of $60.33.

Institutional Trading of Cytokinetics

Several institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Cytokinetics by 13.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,351 shares of the biopharmaceutical company’s stock worth $426,000 after purchasing an additional 1,076 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Cytokinetics by 46.7% during the 4th quarter. New York State Common Retirement Fund now owns 82,359 shares of the biopharmaceutical company’s stock worth $3,754,000 after acquiring an additional 26,237 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Cytokinetics by 16.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 14,795 shares of the biopharmaceutical company’s stock valued at $491,000 after acquiring an additional 2,095 shares during the period. Mutual of America Capital Management LLC grew its position in Cytokinetics by 2.9% in the 4th quarter. Mutual of America Capital Management LLC now owns 11,460 shares of the biopharmaceutical company’s stock valued at $522,000 after acquiring an additional 323 shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its stake in Cytokinetics by 23.4% during the fourth quarter. Advisor Group Holdings Inc. now owns 5,163 shares of the biopharmaceutical company’s stock worth $235,000 after purchasing an additional 979 shares during the period.

Cytokinetics Company Profile

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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.

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