Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum Sells 5,000 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $52.14, for a total value of $260,700.00. Following the transaction, the chief executive officer now directly owns 397,456 shares in the company, valued at approximately $20,723,355.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cytokinetics Price Performance

Shares of CYTK traded up $0.46 during trading hours on Monday, reaching $52.80. 1,057,240 shares of the company traded hands, compared to its average volume of 2,234,167. The stock has a market capitalization of $5.54 billion, a PE ratio of -9.78 and a beta of 0.77. The stock has a fifty day simple moving average of $55.71 and a 200 day simple moving average of $58.67. Cytokinetics, Incorporated has a fifty-two week low of $25.98 and a fifty-two week high of $110.25. The company has a quick ratio of 10.39, a current ratio of 10.39 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The business had revenue of $0.25 million during the quarter, compared to the consensus estimate of $7.61 million. The business’s revenue was down 71.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.34) EPS. As a group, research analysts predict that Cytokinetics, Incorporated will post -5.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ghisallo Capital Management LLC acquired a new position in Cytokinetics during the second quarter worth approximately $10,619,000. Cetera Investment Advisers boosted its holdings in Cytokinetics by 128.5% in the second quarter. Cetera Investment Advisers now owns 27,320 shares of the biopharmaceutical company’s stock valued at $1,480,000 after acquiring an additional 15,366 shares during the last quarter. Quarry LP increased its stake in Cytokinetics by 233.3% during the second quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 1,400 shares during the last quarter. Creative Planning raised its holdings in shares of Cytokinetics by 56.1% in the 2nd quarter. Creative Planning now owns 15,727 shares of the biopharmaceutical company’s stock worth $852,000 after purchasing an additional 5,649 shares during the period. Finally, Clearline Capital LP lifted its stake in shares of Cytokinetics by 332.4% in the 2nd quarter. Clearline Capital LP now owns 207,695 shares of the biopharmaceutical company’s stock valued at $11,253,000 after purchasing an additional 159,660 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CYTK shares. The Goldman Sachs Group cut Cytokinetics from a “buy” rating to a “neutral” rating and cut their price target for the stock from $85.00 to $60.00 in a research note on Tuesday, August 13th. Needham & Company LLC restated a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research note on Tuesday, September 3rd. JMP Securities reissued a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a report on Wednesday, September 4th. JPMorgan Chase & Co. lifted their price objective on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Finally, HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Cytokinetics in a report on Monday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Cytokinetics currently has an average rating of “Moderate Buy” and an average price target of $80.67.

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.