Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Sells 5,000 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $50.55, for a total transaction of $252,750.00. Following the sale, the chief executive officer now owns 397,456 shares in the company, valued at $20,091,400.80. This trade represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Cytokinetics Stock Performance

Cytokinetics stock traded down $0.84 during mid-day trading on Tuesday, hitting $51.10. 1,186,005 shares of the company’s stock traded hands, compared to its average volume of 2,055,975. Cytokinetics, Incorporated has a one year low of $30.68 and a one year high of $110.25. The company has a market cap of $6.03 billion, a PE ratio of -9.44 and a beta of 0.78. The firm has a 50 day moving average price of $54.00 and a 200 day moving average price of $55.11. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The firm had revenue of $0.46 million during the quarter, compared to the consensus estimate of $1.21 million. The business’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.35) earnings per share. On average, equities analysts forecast that Cytokinetics, Incorporated will post -4.32 EPS for the current year.

Hedge Funds Weigh In On Cytokinetics

A number of hedge funds have recently modified their holdings of CYTK. J.Safra Asset Management Corp boosted its position in shares of Cytokinetics by 642.3% in the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 456 shares during the period. UMB Bank n.a. lifted its stake in Cytokinetics by 65.6% during the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 238 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Cytokinetics by 225.9% in the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 680 shares during the period. Values First Advisors Inc. purchased a new position in shares of Cytokinetics in the third quarter worth approximately $54,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Cytokinetics in the 1st quarter valued at approximately $74,000.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. HC Wainwright reissued a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research report on Monday. JPMorgan Chase & Co. lifted their price target on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. JMP Securities reissued a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Wednesday, September 4th. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.67.

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.