John T. Henderson Sells 10,562 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director John T. Henderson sold 10,562 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $64.54, for a total value of $681,671.48. Following the completion of the sale, the director now directly owns 32,070 shares in the company, valued at approximately $2,069,797.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Cytokinetics Price Performance

Cytokinetics stock opened at $64.80 on Friday. The company has a market capitalization of $6.78 billion, a PE ratio of -11.89 and a beta of 0.68. Cytokinetics, Incorporated has a one year low of $25.98 and a one year high of $110.25. The business has a 50 day simple moving average of $70.14 and a 200 day simple moving average of $59.58.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.35). The business had revenue of $1.70 million during the quarter, compared to analysts’ expectations of $7.62 million. During the same period last year, the firm posted ($1.45) EPS. The business’s revenue was down 10.5% on a year-over-year basis. Equities analysts anticipate that Cytokinetics, Incorporated will post -4.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CYTK has been the topic of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $94.00 target price on shares of Cytokinetics in a report on Wednesday, February 28th. UBS Group lowered Cytokinetics from a “buy” rating to a “neutral” rating and raised their target price for the company from $61.00 to $92.00 in a report on Wednesday, January 24th. Raymond James raised their price objective on Cytokinetics from $63.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, December 28th. Truist Financial reiterated a “buy” rating and issued a $86.00 price objective on shares of Cytokinetics in a research report on Monday, April 8th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $107.00 price objective on shares of Cytokinetics in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Cytokinetics currently has an average rating of “Moderate Buy” and a consensus price target of $79.33.

Institutional Investors Weigh In On Cytokinetics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in shares of Cytokinetics by 94.1% in the 1st quarter. Fifth Third Bancorp now owns 656 shares of the biopharmaceutical company’s stock valued at $46,000 after buying an additional 318 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Cytokinetics by 96.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,463 shares of the biopharmaceutical company’s stock valued at $73,000 after buying an additional 1,209 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Cytokinetics in the 4th quarter valued at $80,000. Sage Rhino Capital LLC acquired a new stake in shares of Cytokinetics in the 4th quarter valued at $204,000. Finally, Caprock Group LLC acquired a new stake in shares of Cytokinetics in the 4th quarter valued at $216,000.

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.