Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum Sells 22,500 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 22,500 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $52.60, for a total transaction of $1,183,500.00. Following the completion of the transaction, the chief executive officer now owns 416,645 shares in the company, valued at $21,915,527. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cytokinetics Stock Down 2.1 %

Shares of CYTK stock opened at $52.78 on Tuesday. The stock has a fifty day moving average of $60.35 and a 200 day moving average of $65.94. Cytokinetics, Incorporated has a 52 week low of $25.98 and a 52 week high of $110.25. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of -9.77 and a beta of 0.75.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.17). The company had revenue of $0.84 million during the quarter, compared to the consensus estimate of $0.91 million. During the same period last year, the firm earned ($1.38) earnings per share. The firm’s revenue for the quarter was down 81.8% compared to the same quarter last year. Equities research analysts anticipate that Cytokinetics, Incorporated will post -4.55 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on CYTK shares. Bank of America decreased their price objective on shares of Cytokinetics from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, May 23rd. B. Riley reduced their price target on shares of Cytokinetics from $122.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. Barclays reduced their price target on shares of Cytokinetics from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. JMP Securities reduced their price target on shares of Cytokinetics from $106.00 to $78.00 and set a “market outperform” rating on the stock in a research report on Tuesday, May 28th. Finally, HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of Cytokinetics in a research report on Monday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.41.

Institutional Trading of Cytokinetics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. purchased a new stake in Cytokinetics in the fourth quarter worth $46,308,000. Vanguard Group Inc. lifted its position in Cytokinetics by 4.6% during the third quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company’s stock valued at $316,498,000 after buying an additional 472,595 shares during the period. HealthInvest Partners AB purchased a new position in Cytokinetics during the fourth quarter valued at $980,000. Legato Capital Management LLC purchased a new position in Cytokinetics during the fourth quarter valued at $1,305,000. Finally, Vestal Point Capital LP purchased a new position in Cytokinetics during the fourth quarter valued at $4,174,000.

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.