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

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 15,000 shares of the company’s stock in a transaction 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. This trade represents a 3.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Cytokinetics Price Performance

CYTK stock traded down $3.00 during midday trading on Monday, reaching $40.19. The stock had a trading volume of 1,688,196 shares, compared to its average volume of 1,506,462. Cytokinetics, Incorporated has a 52-week low of $39.87 and a 52-week high of $75.71. The company has a market cap of $4.76 billion, a price-to-earnings ratio of -7.47 and a beta of 0.95. The company’s fifty day simple moving average is $45.75 and its 200 day simple moving average is $49.52. 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 (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.03. The firm had revenue of $16.93 million during the quarter, compared to analysts’ expectations of $14.26 million. As a group, sell-side analysts predict 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 research reports. Needham & Company LLC restated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research note on Thursday, February 6th. Stifel Nicolaus started coverage on shares of Cytokinetics in a report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 price target for the company. Citigroup began coverage on Cytokinetics in a research note on Friday, February 7th. They set a “buy” rating and a $86.00 price target on the stock. Evercore ISI upgraded shares of Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. Finally, Morgan Stanley set a $67.00 target price on shares of Cytokinetics in a research report on Friday, March 7th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cytokinetics has a consensus rating of “Moderate Buy” and an average price target of $82.00.

Hedge Funds Weigh In On Cytokinetics

Hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp grew its stake in shares of Cytokinetics by 189.8% in the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 374 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in Cytokinetics during the 4th quarter worth approximately $29,000. AlphaQuest LLC lifted its position in shares of Cytokinetics by 113,500.0% during the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 1,135 shares during the last quarter. J.Safra Asset Management Corp grew its stake in shares of Cytokinetics by 62.1% during the fourth quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 671 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Cytokinetics by 85.8% in the fourth quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company’s stock valued at $86,000 after purchasing an additional 842 shares in the last quarter.

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.