Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Sells $169,000.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $33.80, for a total transaction of $169,000.00. Following the completion of the sale, the chief executive officer now directly owns 403,108 shares in the company, valued at $13,625,050.40. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Cytokinetics Price Performance

CYTK opened at $33.78 on Tuesday. 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 stock has a market capitalization of $4.03 billion, a P/E ratio of -6.28 and a beta of 0.59. The company’s 50-day simple moving average is $34.81 and its two-hundred day simple moving average is $42.13. Cytokinetics, Incorporated has a 52-week low of $29.31 and a 52-week high of $61.38.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.41) by $0.05. The company had revenue of $1.60 million for the quarter, compared to the consensus estimate of $2.77 million. Cytokinetics’s revenue was up 89.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.33) EPS. As a group, analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Hedge Funds Weigh In On Cytokinetics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in Cytokinetics during the 4th quarter valued at about $254,000. AlphaQuest LLC lifted its stake in Cytokinetics by 113,500.0% during the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 1,135 shares during the period. Vanguard Group Inc. lifted its stake in shares of Cytokinetics by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock worth $560,520,000 after purchasing an additional 154,216 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Cytokinetics by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,335,189 shares of the biopharmaceutical company’s stock worth $62,807,000 after purchasing an additional 13,798 shares during the period. Finally, Peregrine Capital Management LLC lifted its stake in shares of Cytokinetics by 6.7% in the 4th quarter. Peregrine Capital Management LLC now owns 150,343 shares of the biopharmaceutical company’s stock worth $7,072,000 after purchasing an additional 9,432 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CYTK. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a research report on Monday, April 21st. Bank of America reduced their target price on shares of Cytokinetics from $62.00 to $54.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. UBS Group reduced their target price on shares of Cytokinetics from $47.00 to $41.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Royal Bank of Canada cut their price objective on shares of Cytokinetics from $82.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Finally, Barclays cut their price objective on shares of Cytokinetics from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.92.

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.