Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) Director Sells 742 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director Wendall Wierenga sold 742 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $48.61, for a total value of $36,068.62. Following the completion of the sale, the director now directly owns 24,559 shares of the company’s stock, valued at $1,193,812.99. The trade was a 2.93 % 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.

Wendall Wierenga also recently made the following trade(s):

• On Monday, October 28th, Wendall Wierenga sold 4,452 shares of Cytokinetics stock. The stock was sold at an average price of $52.25, for a total transaction of $232,617.00.

Cytokinetics Stock Performance

Shares of Cytokinetics stock opened at $49.02 on Tuesday. 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 stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of -9.11 and a beta of 0.80. The business has a 50-day moving average of $52.51 and a 200 day moving average of $54.09. Cytokinetics, Incorporated has a 12 month low of $32.70 and a 12 month high of $110.25.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (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 analyst estimates of $1.21 million. The company’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.35) EPS. As a group, sell-side analysts forecast that Cytokinetics, Incorporated will post -5.25 earnings per share for the current year.

Institutional Investors Weigh In On Cytokinetics

Several institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its position 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. Westfield Capital Management Co. LP boosted its holdings in shares of Cytokinetics by 38.9% in the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock valued at $64,040,000 after acquiring an additional 339,373 shares during the period. Ghisallo Capital Management LLC purchased a new position in shares of Cytokinetics during the second quarter worth approximately $10,619,000. Darwin Global Management Ltd. acquired a new position in shares of Cytokinetics in the 2nd quarter valued at $246,074,000. Finally, WINTON GROUP Ltd purchased a new stake in Cytokinetics in the 2nd quarter valued at $983,000.

Analysts Set New Price Targets

Several brokerages have commented on CYTK. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research report on Wednesday, September 4th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. Mizuho lifted their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Royal Bank of Canada initiated coverage on shares of Cytokinetics in a research note on Friday, November 8th. They issued an “outperform” rating and a $80.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Cytokinetics 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.