Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Sells $561,318.24 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 12,648 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $44.38, for a total value of $561,318.24. Following the sale, the chief executive officer now owns 326,533 shares of the company’s stock, valued at approximately $14,491,534.54. This represents a 3.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Cytokinetics Stock Up 0.4 %

CYTK opened at $43.45 on Thursday. Cytokinetics, Incorporated has a twelve month low of $40.53 and a twelve month high of $75.71. The company’s 50-day moving average price is $46.07 and its two-hundred day moving average price is $50.09. The stock has a market cap of $5.14 billion, a price-to-earnings ratio of -8.08 and a beta of 0.95. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, beating the consensus estimate of ($1.29) by $0.03. The firm had revenue of $16.93 million during the quarter, compared to analysts’ expectations of $14.26 million. As a group, equities analysts expect that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CYTK. Vanguard Group Inc. increased its holdings in Cytokinetics by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock worth $560,520,000 after acquiring an additional 154,216 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Cytokinetics by 11.0% in 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 in the last quarter. Geode Capital Management LLC raised its position in shares of Cytokinetics by 4.0% in the third quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock valued at $150,433,000 after purchasing an additional 109,938 shares during the period. Deep Track Capital LP lifted its stake in shares of Cytokinetics by 296.9% during the 4th quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company’s stock valued at $117,600,000 after buying an additional 1,870,094 shares in the last quarter. Finally, Vestal Point Capital LP boosted its holdings in Cytokinetics by 56.7% in the 4th quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company’s stock worth $110,544,000 after buying an additional 850,000 shares during the period.

Analyst Ratings Changes

A number of research firms have weighed in on CYTK. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a research note on Friday, February 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research report on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a report on Thursday, February 6th. Royal Bank of Canada increased their price objective on Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Finally, Stifel Nicolaus initiated coverage on Cytokinetics in a research report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 target price on the stock. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $82.00.

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.