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 company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $50.55, for a total value of $252,750.00. Following the completion of the transaction, the chief executive officer now owns 397,456 shares in the company, valued at $20,091,400.80. This represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Cytokinetics Stock Down 4.4 %

Cytokinetics stock opened at $47.67 on Friday. Cytokinetics, Incorporated has a twelve month low of $30.68 and a twelve month high of $110.25. The stock’s fifty day simple moving average is $53.74 and its 200-day simple moving average is $54.92. 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 firm has a market capitalization of $5.63 billion, a P/E ratio of -8.86 and a beta of 0.78.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The company had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $1.21 million. Cytokinetics’s revenue was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.35) earnings per share. As a group, equities analysts expect that Cytokinetics, Incorporated will post -5.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on CYTK shares. The Goldman Sachs Group cut Cytokinetics from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $85.00 to $60.00 in a report on Tuesday, August 13th. HC Wainwright restated a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a research note on Monday. Mizuho upped their price target on Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research note on Thursday. JPMorgan Chase & Co. upped their price target on Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Hedge Funds Weigh In On Cytokinetics

Several large investors have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky increased its holdings in Cytokinetics by 12.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 56,885 shares of the biopharmaceutical company’s stock valued at $3,003,000 after buying an additional 6,300 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Cytokinetics by 4.0% during the third quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock worth $150,433,000 after purchasing an additional 109,938 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Cytokinetics during the third quarter worth about $521,000. Two Sigma Advisers LP purchased a new position in shares of Cytokinetics during the third quarter worth about $11,336,000. Finally, Stifel Financial Corp grew its holdings in shares of Cytokinetics by 8.5% during the third quarter. Stifel Financial Corp now owns 25,067 shares of the biopharmaceutical company’s stock worth $1,324,000 after purchasing an additional 1,959 shares during the last quarter.

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.