Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Sells 12,500 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK – Get Rating) CEO Robert I. Blum sold 12,500 shares of the business’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $37.26, for a total transaction of $465,750.00. Following the transaction, the chief executive officer now directly owns 441,058 shares in the company, valued at $16,433,821.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Cytokinetics Stock Performance

Shares of CYTK stock opened at $35.33 on Friday. Cytokinetics, Incorporated has a 12 month low of $33.60 and a 12 month high of $55.80. The company has a debt-to-equity ratio of 1.77, a quick ratio of 9.40 and a current ratio of 9.40. The company’s fifty day moving average price is $41.96 and its 200-day moving average price is $44.15.

Cytokinetics (NASDAQ:CYTK – Get Rating) last announced its quarterly earnings results on Wednesday, March 1st. The biopharmaceutical company reported ($1.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.23). The firm had revenue of $1.96 million during the quarter, compared to the consensus estimate of $7.10 million. Cytokinetics had a negative return on equity of 1,401.63% and a negative net margin of 410.89%. The business’s revenue for the quarter was down 96.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.36) EPS. Equities analysts expect that Cytokinetics, Incorporated will post -4.41 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CYTK shares. Oppenheimer reduced their price objective on shares of Cytokinetics from $55.00 to $54.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 1st. Truist Financial started coverage on shares of Cytokinetics in a research report on Tuesday, December 20th. They set a “buy” rating and a $60.00 price objective on the stock. Bank of America started coverage on shares of Cytokinetics in a research report on Friday, February 17th. They set a “neutral” rating and a $49.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $61.00 price objective on shares of Cytokinetics in a research report on Tuesday, March 7th. Finally, JMP Securities restated a “buy” rating and set a $71.00 target price on shares of Cytokinetics in a report on Thursday, March 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.71.

Hedge Funds Weigh In On Cytokinetics

A number of hedge funds have recently bought and sold shares of CYTK. Vanguard Group Inc. boosted its stake in Cytokinetics by 25.1% in the 1st quarter. Vanguard Group Inc. now owns 8,741,124 shares of the biopharmaceutical company’s stock worth $321,760,000 after purchasing an additional 1,751,405 shares in the last quarter. BlackRock Inc. boosted its stake in Cytokinetics by 8.6% in the 3rd quarter. BlackRock Inc. now owns 14,569,992 shares of the biopharmaceutical company’s stock worth $705,918,000 after purchasing an additional 1,156,696 shares in the last quarter. Norges Bank bought a new position in Cytokinetics in the 4th quarter worth about $38,459,000. American Century Companies Inc. lifted its stake in Cytokinetics by 155.1% during the 4th quarter. American Century Companies Inc. now owns 1,181,817 shares of the biopharmaceutical company’s stock valued at $54,151,000 after acquiring an additional 718,472 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Cytokinetics by 119.7% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 1,093,447 shares of the biopharmaceutical company’s stock valued at $52,978,000 after acquiring an additional 595,708 shares during the period.

Cytokinetics Company Profile

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Cytokinetics, Inc is a biopharmaceutical company, which is focused on discovering, developing, and commercializing muscle activators and muscle inhibitors as potential treatments for people with debilitating diseases in which muscle performance is compromised and/or declining. The firm is developing small molecule drug candidates specifically engineered to impact muscle function and contractility.