Wendall Wierenga Sells 4,452 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director Wendall Wierenga sold 4,452 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $52.25, for a total value of $232,617.00. Following the completion of the sale, the director now owns 24,559 shares of the company’s stock, valued at $1,283,207.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Cytokinetics Price Performance

Shares of CYTK stock opened at $51.82 on Friday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 10.39 and a current ratio of 10.39. Cytokinetics, Incorporated has a fifty-two week low of $30.68 and a fifty-two week high of $110.25. The firm has a market cap of $6.10 billion, a P/E ratio of -9.65 and a beta of 0.77. The business’s 50 day moving average price is $54.29 and its 200-day moving average price is $56.09.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The company had revenue of $0.25 million for the quarter, compared to analyst estimates of $7.61 million. During the same quarter in the prior year, the business posted ($1.34) EPS. The firm’s quarterly revenue was down 71.3% compared to the same quarter last year. On average, equities research analysts anticipate that Cytokinetics, Incorporated will post -5.15 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on CYTK shares. HC Wainwright reissued a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a research note on Thursday, October 17th. JPMorgan Chase & Co. lifted their target price on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Needham & Company LLC restated a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research report on Thursday, October 17th. The Goldman Sachs Group cut Cytokinetics from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $85.00 to $60.00 in a research note on Tuesday, August 13th. Finally, JMP Securities reissued a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Institutional Investors Weigh In On Cytokinetics

Large investors have recently modified their holdings of the stock. AlphaCentric Advisors LLC purchased a new stake in Cytokinetics in the third quarter worth about $660,000. Van ECK Associates Corp lifted its stake in shares of Cytokinetics by 21.3% in the 3rd quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company’s stock valued at $3,802,000 after purchasing an additional 12,565 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of Cytokinetics by 138.7% during the third quarter. Harbor Capital Advisors Inc. now owns 42,526 shares of the biopharmaceutical company’s stock valued at $2,245,000 after purchasing an additional 24,712 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in shares of Cytokinetics by 1.8% during the third quarter. Pinnacle Associates Ltd. now owns 258,358 shares of the biopharmaceutical company’s stock valued at $13,641,000 after purchasing an additional 4,494 shares in the last quarter. Finally, New York State Teachers Retirement System grew its stake in Cytokinetics by 1.4% in the third quarter. New York State Teachers Retirement System now owns 113,800 shares of the biopharmaceutical company’s stock worth $6,009,000 after purchasing an additional 1,600 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.