Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) Director Sells $43,227.42 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director Muna Bhanji sold 1,454 shares of the company’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $29.73, for a total transaction of $43,227.42. Following the completion of the transaction, the director now directly owns 23,510 shares in the company, valued at $698,952.30. This trade represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Cytokinetics Stock Performance

Shares of NASDAQ CYTK opened at $31.00 on Friday. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 12 month low of $29.31 and a 12 month high of $61.40. The company has a 50 day simple moving average of $38.88 and a two-hundred day simple moving average of $45.23. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of -5.76 and a beta of 0.81.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, beating the consensus estimate of ($1.41) by $0.05. The firm had revenue of $1.60 million for the quarter, compared to analysts’ expectations of $2.77 million. Cytokinetics’s revenue for the quarter was up 89.1% compared to the same quarter last year. During the same period last year, the firm earned ($1.33) earnings per share. As a group, analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Analyst Ratings Changes

CYTK has been the topic of several research analyst reports. UBS Group lowered their price target on Cytokinetics from $47.00 to $41.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Barclays dropped their price objective on shares of Cytokinetics from $55.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. HC Wainwright restated a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a research report on Monday, April 21st. Needham & Company LLC reiterated a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a research report on Wednesday. Finally, Stifel Nicolaus initiated coverage on shares of Cytokinetics in a research report on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $74.44.

Institutional Investors Weigh In On Cytokinetics

Several institutional investors and hedge funds have recently added to or reduced their stakes in CYTK. Vanguard Group Inc. boosted its position 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 valued at $560,520,000 after acquiring an additional 154,216 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Cytokinetics by 11.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company’s stock worth $505,780,000 after purchasing an additional 1,062,136 shares during the period. Vestal Point Capital LP increased its stake in Cytokinetics by 10.2% during the first quarter. Vestal Point Capital LP now owns 2,590,531 shares of the biopharmaceutical company’s stock worth $104,113,000 after purchasing an additional 240,531 shares during the period. Deep Track Capital LP increased its stake in shares of Cytokinetics by 296.9% during the fourth quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company’s stock worth $117,600,000 after buying an additional 1,870,094 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of Cytokinetics by 14.9% during the fourth quarter. Marshall Wace LLP now owns 2,153,313 shares of the biopharmaceutical company’s stock worth $101,292,000 after buying an additional 279,612 shares during the period.

About Cytokinetics

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.