Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Sells $183,850.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $36.77, for a total transaction of $183,850.00. Following the completion of the transaction, the chief executive officer now owns 422,629 shares in the company, valued at approximately $15,540,068.33. This trade represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Cytokinetics Stock Up 1.4 %

Shares of NASDAQ:CYTK traded up $0.53 during midday trading on Thursday, hitting $37.85. 2,693,567 shares of the company’s stock traded hands, compared to its average volume of 1,576,734. Cytokinetics, Incorporated has a twelve month low of $32.74 and a twelve month high of $75.50. The company has a market cap of $4.48 billion, a PE ratio of -7.04 and a beta of 0.94. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The firm’s fifty day moving average price is $43.59 and its two-hundred day moving average price is $48.38.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.03. The company had revenue of $16.93 million for the quarter, compared to analyst estimates of $14.26 million. On average, equities research analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Cytokinetics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. RFG Advisory LLC acquired a new position in shares of Cytokinetics during the first quarter worth $1,286,000. Mirador Capital Partners LP increased its stake in Cytokinetics by 51.0% during the 1st quarter. Mirador Capital Partners LP now owns 99,125 shares of the biopharmaceutical company’s stock worth $3,984,000 after buying an additional 33,489 shares during the period. Parallel Advisors LLC lifted its holdings in Cytokinetics by 500.5% in the 1st quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 916 shares in the last quarter. GAMMA Investing LLC boosted its position in Cytokinetics by 15,210.5% in the 1st quarter. GAMMA Investing LLC now owns 45,013 shares of the biopharmaceutical company’s stock valued at $1,809,000 after buying an additional 44,719 shares during the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in Cytokinetics in the 4th quarter valued at about $117,000.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CYTK shares. Needham & Company LLC reissued a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research note on Tuesday. Citigroup started coverage on Cytokinetics in a research note on Friday, February 7th. They set a “buy” rating and a $86.00 price target on the stock. Morgan Stanley set a $67.00 price objective on Cytokinetics in a research report on Friday, March 7th. HC Wainwright reiterated a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research report on Friday, April 4th. Finally, JMP Securities restated a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a report on Thursday. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.