Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Sells 5,000 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $33.80, for a total value of $169,000.00. Following the sale, the chief executive officer now directly owns 403,108 shares in the company, valued at approximately $13,625,050.40. The trade was a 1.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cytokinetics Stock Performance

CYTK stock traded down $0.60 during midday trading on Monday, reaching $33.78. The stock had a trading volume of 1,609,818 shares, compared to its average volume of 1,557,091. The firm has a fifty day simple moving average of $34.83 and a two-hundred day simple moving average of $42.26. The stock has a market cap of $4.03 billion, a PE ratio of -6.28 and a beta of 0.59. Cytokinetics, Incorporated has a 52-week low of $29.31 and a 52-week high of $61.38. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.41) by $0.05. The company had revenue of $1.60 million for the quarter, compared to analysts’ expectations of $2.77 million. During the same quarter in the previous year, the business posted ($1.33) EPS. The business’s quarterly revenue was up 89.1% on a year-over-year basis. As a group, equities research analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Institutional Investors Weigh In On Cytokinetics

A number of institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp lifted its stake in Cytokinetics by 189.8% in the 4th 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 in the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Cytokinetics during the 4th quarter valued at approximately $29,000. Fifth Third Bancorp raised its position in Cytokinetics by 42.2% in the first quarter. Fifth Third Bancorp now owns 981 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 291 shares during the period. Parallel Advisors LLC lifted its position in Cytokinetics by 500.5% in the first quarter. Parallel Advisors LLC now owns 1,099 shares of the biopharmaceutical company’s stock valued at $44,000 after buying an additional 916 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Cytokinetics by 281.0% in the 1st quarter. GAMMA Investing LLC now owns 1,120 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 826 shares during the last quarter.

Analyst Upgrades and Downgrades

CYTK has been the topic of a number of recent analyst reports. Barclays lowered their price target on shares of Cytokinetics from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Citigroup lowered their target price on shares of Cytokinetics from $86.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. JPMorgan Chase & Co. reduced their price target on Cytokinetics from $71.00 to $53.00 and set an “overweight” rating on the stock in a research report on Monday, June 9th. JMP Securities reiterated a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a report on Thursday, April 10th. Finally, Cantor Fitzgerald upgraded Cytokinetics to a “strong-buy” rating in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.92.

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.