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

Cytokinetics, Incorporated (NASDAQ:CYTK) Director John T. Henderson sold 10,562 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $64.54, for a total transaction of $681,671.48. Following the transaction, the director now owns 32,070 shares in the company, valued at approximately $2,069,797.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cytokinetics Price Performance

Shares of NASDAQ CYTK opened at $65.34 on Friday. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of -11.99 and a beta of 0.68. Cytokinetics, Incorporated has a 12 month low of $25.98 and a 12 month high of $110.25. The firm’s 50 day simple moving average is $69.91 and its 200-day simple moving average is $59.82.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Cytokinetics by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 11,016,889 shares of the biopharmaceutical company’s stock valued at $919,800,000 after buying an additional 273,565 shares in the last quarter. First Turn Management LLC purchased a new position in shares of Cytokinetics during the 4th quarter valued at approximately $67,414,000. Charles Schwab Investment Management Inc. lifted its position in shares of Cytokinetics by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 789,969 shares of the biopharmaceutical company’s stock valued at $65,955,000 after buying an additional 33,257 shares in the last quarter. Norges Bank purchased a new position in shares of Cytokinetics during the 4th quarter valued at approximately $60,299,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Cytokinetics during the 4th quarter valued at approximately $46,308,000.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $108.00 price objective on shares of Cytokinetics in a report on Tuesday, April 9th. Morgan Stanley restated an “equal weight” rating and set a $90.00 price objective (up previously from $60.00) on shares of Cytokinetics in a report on Friday, January 5th. StockNews.com downgraded shares of Cytokinetics from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Oppenheimer reiterated an “outperform” rating and issued a $107.00 price target on shares of Cytokinetics in a report on Monday, March 4th. Finally, Truist Financial reiterated a “buy” rating and issued a $86.00 price target on shares of Cytokinetics in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Cytokinetics currently has a consensus rating of “Moderate Buy” and an average price target of $79.33.

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.