Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Sells $412,600.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTKGet Rating) CEO Robert I. Blum sold 10,000 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $41.26, for a total transaction of $412,600.00. Following the sale, the chief executive officer now owns 409,124 shares of the company’s stock, valued at $16,880,456.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Cytokinetics Trading Up 10.9 %

Shares of Cytokinetics stock opened at $51.82 on Friday. The company has a market capitalization of $4.44 billion, a P/E ratio of -16.09 and a beta of 1.14. The company has a debt-to-equity ratio of 1.68, a quick ratio of 9.33 and a current ratio of 9.33. The company has a fifty day moving average of $42.38 and a 200 day moving average of $38.85. Cytokinetics, Incorporated has a fifty-two week low of $29.10 and a fifty-two week high of $52.69.

Cytokinetics (NASDAQ:CYTKGet Rating) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($1.04) by $0.81. The company had revenue of $88.97 million during the quarter, compared to the consensus estimate of $3.73 million. Cytokinetics had a negative net margin of 396.22% and a negative return on equity of 163.01%. Cytokinetics’s quarterly revenue was up 3029.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.86) EPS. On average, sell-side analysts anticipate that Cytokinetics, Incorporated will post -4.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Cytokinetics by 12.7% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 93,839 shares of the biopharmaceutical company’s stock valued at $3,687,000 after purchasing an additional 10,574 shares during the last quarter. Mirador Capital Partners LP boosted its holdings in shares of Cytokinetics by 2.6% during the 2nd quarter. Mirador Capital Partners LP now owns 163,583 shares of the biopharmaceutical company’s stock valued at $6,427,000 after purchasing an additional 4,085 shares during the last quarter. Seven Eight Capital LP bought a new position in shares of Cytokinetics during the 2nd quarter valued at about $818,000. Envestnet Asset Management Inc. boosted its holdings in shares of Cytokinetics by 21.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 24,036 shares of the biopharmaceutical company’s stock valued at $944,000 after purchasing an additional 4,202 shares during the last quarter. Finally, Integral Health Asset Management LLC boosted its holdings in shares of Cytokinetics by 11.7% during the 2nd quarter. Integral Health Asset Management LLC now owns 525,000 shares of the biopharmaceutical company’s stock valued at $20,627,000 after purchasing an additional 55,000 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CYTK. The Goldman Sachs Group decreased their target price on shares of Cytokinetics from $71.00 to $57.00 and set a “buy” rating for the company in a research note on Tuesday, May 24th. Mizuho boosted their target price on shares of Cytokinetics from $54.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, May 16th. Needham & Company LLC boosted their target price on shares of Cytokinetics from $52.00 to $60.00 in a research note on Thursday, May 5th. HC Wainwright reissued a “buy” rating and set a $75.00 price objective on shares of Cytokinetics in a research report on Tuesday, May 24th. Finally, Piper Sandler boosted their price objective on shares of Cytokinetics from $50.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, June 9th. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $62.75.

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.

Further Reading

Insider Buying and Selling by Quarter for Cytokinetics (NASDAQ:CYTK)

Want More Great Investing Ideas?

Receive News & Ratings for Cytokinetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cytokinetics and related companies with MarketBeat.com's FREE daily email newsletter.