Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Sells $252,750.00 in Stock

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

Cytokinetics Stock Down 1.6 %

CYTK opened at $51.09 on Wednesday. Cytokinetics, Incorporated has a one year low of $30.68 and a one year high of $110.25. 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’s fifty day moving average is $53.94 and its 200-day moving average is $55.01. The company has a market capitalization of $6.03 billion, a PE ratio of -9.50 and a beta of 0.78.

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 predict that Cytokinetics, Incorporated will post -4.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Cytokinetics

Hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp grew its holdings in shares of Cytokinetics by 21.3% in the 3rd quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company’s stock worth $3,802,000 after acquiring an additional 12,565 shares during the last quarter. Ghisallo Capital Management LLC acquired a new position in shares of Cytokinetics in the 2nd quarter worth $10,619,000. Castleark Management LLC acquired a new position in shares of Cytokinetics in the 1st quarter worth $1,471,000. Darwin Global Management Ltd. acquired a new position in shares of Cytokinetics in the 2nd quarter worth $246,074,000. Finally, WINTON GROUP Ltd purchased a new position in shares of Cytokinetics during the second quarter valued at $983,000.

Analyst Ratings Changes

Several brokerages have recently weighed in on CYTK. The Goldman Sachs Group lowered Cytokinetics from a “buy” rating to a “neutral” rating and cut their target price for the stock from $85.00 to $60.00 in a research report on Tuesday, August 13th. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a research report on Wednesday, September 4th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. HC Wainwright reiterated a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a research note on Monday. Finally, JPMorgan Chase & Co. lifted their target price on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Cytokinetics currently has an average 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.