Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum Sells 5,000 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $50.55, for a total value of $252,750.00. Following the transaction, the chief executive officer now directly owns 397,456 shares in the company, valued at approximately $20,091,400.80. The trade was a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Cytokinetics Stock Performance

NASDAQ CYTK traded down $0.84 on Tuesday, hitting $51.10. 1,186,005 shares of the company’s stock traded hands, compared to its average volume of 2,055,975. The firm’s 50-day moving average price is $54.00 and its two-hundred day moving average price is $55.11. The firm has a market capitalization of $6.03 billion, a PE ratio of -9.44 and a beta of 0.78. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 1-year low of $30.68 and a 1-year high of $110.25.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The business 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.35) earnings per share. As a group, analysts expect that Cytokinetics, Incorporated will post -4.32 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. J.Safra Asset Management Corp increased its holdings in shares of Cytokinetics by 642.3% during the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 456 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Cytokinetics by 65.6% during the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 238 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Cytokinetics by 225.9% in the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 680 shares during the period. Values First Advisors Inc. purchased a new stake in shares of Cytokinetics in the 3rd quarter valued at approximately $54,000. Finally, EntryPoint Capital LLC purchased a new stake in Cytokinetics in the first quarter valued at $74,000.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CYTK shares. The Goldman Sachs Group downgraded shares of Cytokinetics from a “buy” rating to a “neutral” rating and decreased their price target for the company from $85.00 to $60.00 in a research note on Tuesday, August 13th. Royal Bank of Canada began coverage on shares of Cytokinetics in a report on Friday, November 8th. They issued an “outperform” rating and a $80.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a report on Thursday, October 17th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.67.

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.