Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sells 3,341 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 3,341 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $43.27, for a total transaction of $144,565.07. Following the sale, the executive vice president now owns 64,434 shares in the company, valued at approximately $2,788,059.18. This trade represents a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cytokinetics Trading Up 0.4 %

Shares of Cytokinetics stock opened at $43.43 on Friday. Cytokinetics, Incorporated has a 1 year low of $40.53 and a 1 year high of $75.71. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The company has a market capitalization of $5.14 billion, a P/E ratio of -8.07 and a beta of 0.95. The company’s fifty day moving average is $46.72 and its two-hundred day moving average is $50.79.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.29) by $0.03. The business had revenue of $16.93 million for the quarter, compared to analysts’ expectations of $14.26 million. Analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CYTK shares. Royal Bank of Canada increased their target price on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. JMP Securities restated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Friday, February 7th. Morgan Stanley upgraded shares of Cytokinetics from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $70.00 to $67.00 in a report on Thursday, February 13th. Evercore ISI upgraded shares of Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. Finally, Citigroup initiated coverage on shares of Cytokinetics in a report on Friday, February 7th. They issued a “buy” rating and a $86.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CYTK. State of Alaska Department of Revenue grew its position in Cytokinetics by 7.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 13,390 shares of the biopharmaceutical company’s stock worth $706,000 after purchasing an additional 925 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Cytokinetics by 21.3% in the third quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company’s stock valued at $3,802,000 after acquiring an additional 12,565 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Cytokinetics by 16.3% in the third quarter. Crossmark Global Holdings Inc. now owns 7,640 shares of the biopharmaceutical company’s stock valued at $403,000 after acquiring an additional 1,072 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of Cytokinetics by 9.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 42,851 shares of the biopharmaceutical company’s stock valued at $2,263,000 after acquiring an additional 3,654 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Cytokinetics by 10.7% in the third quarter. Oppenheimer & Co. Inc. now owns 8,546 shares of the biopharmaceutical company’s stock valued at $451,000 after acquiring an additional 824 shares in the last quarter.

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.