Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Sells $611,250.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $40.75, for a total value of $611,250.00. Following the sale, the chief executive officer now owns 427,629 shares in the company, valued at approximately $17,425,881.75. This trade represents a 3.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Cytokinetics Stock Performance

Shares of Cytokinetics stock opened at $40.25 on Thursday. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The stock’s fifty day moving average price is $45.34 and its 200-day moving average price is $49.23. The firm has a market cap of $4.77 billion, a P/E ratio of -7.48 and a beta of 0.95. Cytokinetics, Incorporated has a 12 month low of $37.46 and a 12 month high of $75.71.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, beating the consensus estimate of ($1.29) by $0.03. The business had revenue of $16.93 million during the quarter, compared to the consensus estimate of $14.26 million. On average, equities research analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Institutional Trading of Cytokinetics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Harvey Capital Management Inc. purchased a new stake in shares of Cytokinetics during the 4th quarter worth $1,040,000. abrdn plc boosted its holdings in shares of Cytokinetics by 29.4% in the 4th quarter. abrdn plc now owns 450,513 shares of the biopharmaceutical company’s stock valued at $21,192,000 after buying an additional 102,457 shares in the last quarter. AlphaQuest LLC grew its position in shares of Cytokinetics by 113,500.0% in the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 1,135 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Cytokinetics by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock worth $560,520,000 after acquiring an additional 154,216 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Cytokinetics by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,335,189 shares of the biopharmaceutical company’s stock valued at $62,807,000 after acquiring an additional 13,798 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CYTK shares. Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. Royal Bank of Canada raised their target price on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. JMP Securities reiterated a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a report on Friday, February 7th. HC Wainwright reissued a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a research note on Friday, February 28th. Finally, Morgan Stanley set a $67.00 target price on Cytokinetics in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.00.

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.