Cytokinetics, Incorporated (NASDAQ:CYTK) Director Sells $89,747.60 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director John T. Henderson sold 1,780 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $50.42, for a total transaction of $89,747.60. Following the transaction, the director now directly owns 38,461 shares of the company’s stock, valued at $1,939,203.62. The trade was a 4.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Cytokinetics Stock Performance

Shares of Cytokinetics stock opened at $48.65 on Friday. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The firm has a 50 day simple moving average of $52.64 and a 200 day simple moving average of $54.04. Cytokinetics, Incorporated has a fifty-two week low of $32.70 and a fifty-two week high of $110.25. The firm has a market cap of $5.74 billion, a P/E ratio of -9.04 and a beta of 0.80.

Cytokinetics (NASDAQ:CYTK) last released 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 firm had revenue of $0.46 million during the quarter, compared to the consensus estimate of $1.21 million. The business’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same period in the prior year, the business earned ($1.35) earnings per share. Sell-side analysts predict that Cytokinetics, Incorporated will post -5.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. J.Safra Asset Management Corp raised its stake in shares of Cytokinetics by 642.3% during the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 456 shares during the last quarter. UMB Bank n.a. boosted its stake in Cytokinetics by 65.6% in the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 238 shares during the last quarter. Blue Trust Inc. grew its holdings in Cytokinetics by 225.9% during the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 680 shares during the period. Values First Advisors Inc. bought a new stake in shares of Cytokinetics during the 3rd quarter valued at $54,000. Finally, Quarry LP lifted its stake in shares of Cytokinetics by 233.3% in the 2nd quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock valued at $108,000 after purchasing an additional 1,400 shares during the period.

Analyst Upgrades and Downgrades

CYTK has been the subject of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. HC Wainwright restated a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research report on Monday, December 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research report on Monday, December 2nd. JMP Securities reissued a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. upped their target price on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

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.