Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum Sells 12,500 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 12,500 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $34.57, for a total transaction of $432,125.00. Following the completion of the transaction, the chief executive officer now owns 441,417 shares in the company, valued at $15,259,785.69. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Cytokinetics Price Performance

Cytokinetics stock opened at $32.83 on Thursday. Cytokinetics, Incorporated has a 1-year low of $25.98 and a 1-year high of $47.49. The stock has a market cap of $3.22 billion, a PE ratio of -5.95 and a beta of 0.63. The stock’s fifty day moving average is $32.81 and its two-hundred day moving average is $34.41.

Hedge Funds Weigh In On Cytokinetics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Belpointe Asset Management LLC grew its position in shares of Cytokinetics by 76.2% in the 1st quarter. Belpointe Asset Management LLC now owns 786 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 340 shares during the last quarter. Archer Investment Corp purchased a new stake in shares of Cytokinetics in the first quarter valued at about $51,000. West Tower Group LLC acquired a new position in shares of Cytokinetics during the second quarter worth about $62,000. China Universal Asset Management Co. Ltd. raised its holdings in Cytokinetics by 96.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,463 shares of the biopharmaceutical company’s stock worth $73,000 after purchasing an additional 1,209 shares in the last quarter. Finally, Natixis acquired a new stake in Cytokinetics in the fourth quarter valued at about $73,000.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price target on shares of Cytokinetics in a research note on Friday, October 20th. Leerink Partnrs reiterated an “outperform” rating on shares of Cytokinetics in a report on Tuesday, August 15th. HC Wainwright reaffirmed a “buy” rating and issued a $58.00 target price on shares of Cytokinetics in a research report on Wednesday, November 1st. Morgan Stanley reissued an “overweight” rating and issued a $60.00 price objective on shares of Cytokinetics in a research note on Friday, August 4th. Finally, StockNews.com downgraded shares of Cytokinetics from a “hold” rating to a “sell” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.87.

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.