Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum Sells 5,000 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.03, for a total transaction of $285,150.00. Following the completion of the sale, the chief executive officer now owns 397,456 shares of the company’s stock, valued at $22,666,915.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Cytokinetics Stock Performance

Shares of CYTK opened at $54.56 on Wednesday. The company has a market cap of $6.42 billion, a price-to-earnings ratio of -10.10 and a beta of 0.75. The business’s fifty day simple moving average is $56.13 and its two-hundred day simple moving average is $60.93. Cytokinetics, Incorporated has a 12 month low of $25.98 and a 12 month high of $110.25. The company has a current ratio of 10.39, a quick ratio of 10.39 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The company had revenue of $0.25 million during the quarter, compared to the consensus estimate of $7.61 million. During the same quarter in the previous year, the business earned ($1.34) earnings per share. Cytokinetics’s revenue was down 71.3% compared to the same quarter last year. Research analysts anticipate that Cytokinetics, Incorporated will post -5.1 earnings per share for the current fiscal year.

Institutional Trading of Cytokinetics

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Cytokinetics by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 11,016,889 shares of the biopharmaceutical company’s stock worth $919,800,000 after purchasing an additional 273,565 shares during the last quarter. Darwin Global Management Ltd. bought a new position in shares of Cytokinetics during the 2nd quarter valued at $246,074,000. Integral Health Asset Management LLC boosted its stake in shares of Cytokinetics by 122.2% in the 2nd quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $54,180,000 after buying an additional 550,000 shares during the last quarter. First Turn Management LLC bought a new stake in shares of Cytokinetics in the fourth quarter worth $67,414,000. Finally, Charles Schwab Investment Management Inc. increased its position in Cytokinetics by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 789,969 shares of the biopharmaceutical company’s stock valued at $65,955,000 after acquiring an additional 33,257 shares during the last quarter.

Analyst Ratings Changes

CYTK has been the subject of several research reports. Oppenheimer decreased their target price on Cytokinetics from $107.00 to $106.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. B. Riley decreased their price objective on Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, June 4th. JMP Securities dropped their target price on shares of Cytokinetics from $106.00 to $78.00 and set a “market outperform” rating on the stock in a report on Tuesday, May 28th. Raymond James decreased their price target on shares of Cytokinetics from $92.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $80.27.

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.