Robert I. Blum Sells 15,000 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $40.75, for a total transaction of $611,250.00. Following the sale, the chief executive officer now directly owns 427,629 shares in the company, valued at $17,425,881.75. The trade was a 3.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Cytokinetics Trading Down 6.7 %

NASDAQ CYTK opened at $37.50 on Wednesday. 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, Incorporated has a 52 week low of $37.46 and a 52 week high of $75.71. The business has a 50 day moving average price of $45.47 and a 200-day moving average price of $49.29. The company has a market cap of $4.44 billion, a price-to-earnings ratio of -6.97 and a beta of 0.95.

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

Analysts Set New Price Targets

CYTK has been the topic of several analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a research note on Thursday, February 6th. Evercore ISI raised Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. Stifel Nicolaus started coverage on Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research report on Friday, February 28th. Finally, Royal Bank of Canada boosted their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.00.

Institutional Investors Weigh In On Cytokinetics

Institutional investors and hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp increased its holdings in Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 374 shares in the last quarter. Retirement Systems of Alabama grew its holdings in Cytokinetics by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company’s stock worth $6,750,000 after buying an additional 565 shares in the last quarter. Arizona State Retirement System raised its position in Cytokinetics by 1.9% in the 4th quarter. Arizona State Retirement System now owns 32,366 shares of the biopharmaceutical company’s stock valued at $1,522,000 after buying an additional 600 shares during the last quarter. Inspire Investing LLC boosted its holdings in Cytokinetics by 7.8% during the 4th quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock worth $400,000 after acquiring an additional 616 shares during the last quarter. Finally, Centricity Wealth Management LLC bought a new stake in shares of Cytokinetics in the 4th quarter worth $29,000.

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.