Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Sells $412,300.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTKGet Rating) CEO Robert I. Blum sold 10,000 shares of Cytokinetics stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $41.23, for a total value of $412,300.00. Following the completion of the sale, the chief executive officer now owns 409,472 shares in the company, valued at $16,882,530.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

CYTK traded up $0.19 on Wednesday, reaching $41.68. The company’s stock had a trading volume of 411,591 shares, compared to its average volume of 990,093. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of -12.95 and a beta of 1.22. Cytokinetics, Incorporated has a 1 year low of $17.72 and a 1 year high of $47.90. The company has a debt-to-equity ratio of 1.68, a current ratio of 9.33 and a quick ratio of 9.33. The business’s 50 day moving average is $39.32 and its 200 day moving average is $37.78.

Cytokinetics (NASDAQ:CYTKGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.09). The business had revenue of $1.15 million during the quarter, compared to analysts’ expectations of $4.72 million. Cytokinetics had a negative net margin of 396.22% and a negative return on equity of 163.01%. The company’s revenue for the quarter was down 82.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.66) EPS. As a group, research analysts forecast that Cytokinetics, Incorporated will post -4.41 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of CYTK. Teachers Retirement System of The State of Kentucky lifted its holdings in Cytokinetics by 14.7% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 54,383 shares of the biopharmaceutical company’s stock worth $2,002,000 after buying an additional 6,977 shares during the last quarter. Bank of America Corp DE lifted its holdings in Cytokinetics by 42.2% during the 1st quarter. Bank of America Corp DE now owns 419,157 shares of the biopharmaceutical company’s stock worth $15,430,000 after buying an additional 124,424 shares during the last quarter. Walleye Capital LLC bought a new position in Cytokinetics during the 1st quarter worth approximately $2,881,000. The Manufacturers Life Insurance Company lifted its holdings in Cytokinetics by 34.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 53,831 shares of the biopharmaceutical company’s stock worth $1,976,000 after buying an additional 13,846 shares during the last quarter. Finally, Ensign Peak Advisors Inc lifted its holdings in Cytokinetics by 6.3% during the 1st quarter. Ensign Peak Advisors Inc now owns 167,865 shares of the biopharmaceutical company’s stock worth $6,179,000 after buying an additional 9,960 shares during the last quarter.

A number of research firms have recently weighed in on CYTK. Cantor Fitzgerald cut their price target on Cytokinetics from $57.00 to $53.00 in a report on Thursday, February 17th. Zacks Investment Research lowered Cytokinetics from a “buy” rating to a “hold” rating in a research note on Monday, February 21st. StockNews.com assumed coverage on Cytokinetics in a research note on Thursday, March 31st. They set a “sell” rating for the company. Mizuho dropped their price target on Cytokinetics from $80.00 to $54.00 and set a “na” rating for the company in a research note on Monday, May 16th. Finally, The Goldman Sachs Group dropped their price target on Cytokinetics from $71.00 to $57.00 and set a “buy” rating for the company in a research note on Tuesday, May 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $54.29.

About Cytokinetics (Get Rating)

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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