Cytokinetics, Incorporated (NASDAQ:CYTK – Get Free Report) CEO Robert I. Blum sold 11,500 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $54.05, for a total value of $621,575.00. Following the completion of the transaction, the chief executive officer now directly owns 405,145 shares in the company, valued at approximately $21,898,087.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Cytokinetics Stock Performance
NASDAQ:CYTK opened at $54.84 on Wednesday. The stock has a market capitalization of $5.75 billion, a P/E ratio of -10.16 and a beta of 0.75. The company’s 50-day simple moving average is $56.32 and its 200-day simple moving average is $67.50. Cytokinetics, Incorporated has a fifty-two week low of $25.98 and a fifty-two week high of $110.25.
Cytokinetics (NASDAQ:CYTK – Get Free Report) last announced its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($1.16) by ($0.17). The business had revenue of $0.84 million for the quarter, compared to the consensus estimate of $0.91 million. The firm’s quarterly revenue was down 81.8% compared to the same quarter last year. During the same period last year, the business posted ($1.38) EPS. On average, research analysts forecast that Cytokinetics, Incorporated will post -4.5 EPS for the current year.
Institutional Inflows and Outflows
Analyst Upgrades and Downgrades
CYTK has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Cytokinetics from $77.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. Truist Financial dropped their target price on shares of Cytokinetics from $86.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Barclays decreased their price target on shares of Cytokinetics from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Bank of America dropped their price objective on Cytokinetics from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, May 23rd. Finally, Raymond James decreased their target price on Cytokinetics from $92.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.06.
Read Our Latest Stock Report on CYTK
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.
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