Cytokinetics, Incorporated (NASDAQ:CYTK) Director Robert Arthur Harrington Sells 450 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director Robert Arthur Harrington sold 450 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $39.43, for a total transaction of $17,743.50. Following the sale, the director now directly owns 14,658 shares in the company, valued at $577,964.94. This trade represents a 2.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Cytokinetics Price Performance

Shares of Cytokinetics stock opened at $37.36 on Friday. The firm has a market cap of $4.42 billion, a PE ratio of -6.94 and a beta of 0.94. The company’s fifty day simple moving average is $44.93 and its two-hundred day simple moving average is $48.98. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 12-month low of $36.89 and a 12-month high of $75.71.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.03. The business had revenue of $16.93 million for the quarter, compared to analysts’ expectations of $14.26 million. As a group, equities analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp increased its position in shares of Cytokinetics by 189.8% during the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 374 shares during the period. Centricity Wealth Management LLC bought a new stake in Cytokinetics during the 4th quarter valued at approximately $29,000. AlphaQuest LLC grew its holdings in shares of Cytokinetics by 113,500.0% during the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 1,135 shares during the period. J.Safra Asset Management Corp raised its position in shares of Cytokinetics by 62.1% in the 4th quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company’s stock worth $83,000 after acquiring an additional 671 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Cytokinetics by 85.8% in the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company’s stock valued at $86,000 after purchasing an additional 842 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a research report on Friday, February 7th. Royal Bank of Canada boosted their price objective on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Morgan Stanley set a $67.00 target price on shares of Cytokinetics in a research note on Friday, March 7th. JMP Securities reissued a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research note on Friday, February 7th. Finally, Stifel Nicolaus assumed coverage on shares of Cytokinetics in a research report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Cytokinetics currently 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.