Cytokinetics, Incorporated (NASDAQ:CYTK) Director Muna Bhanji Sells 2,000 Shares

Cytokinetics, Incorporated (NASDAQ:CYTKGet Free Report) Director Muna Bhanji sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $52.07, for a total transaction of $104,140.00. Following the sale, the director now owns 17,631 shares of the company’s stock, valued at $918,046.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cytokinetics Stock Up 2.6 %

Shares of CYTK stock opened at $54.16 on Tuesday. The business has a fifty day simple moving average of $62.13 and a 200 day simple moving average of $65.17. The company has a market cap of $5.68 billion, a P/E ratio of -10.03 and a beta of 0.75. Cytokinetics, Incorporated has a twelve month low of $25.98 and a twelve month high of $110.25.

Cytokinetics (NASDAQ:CYTKGet Free Report) last issued its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($1.16) by ($0.17). The business had revenue of $0.84 million during the quarter, compared to analysts’ expectations of $0.91 million. During the same period last year, the firm posted ($1.38) earnings per share. The company’s quarterly revenue was down 81.8% on a year-over-year basis. As a group, equities research analysts anticipate that Cytokinetics, Incorporated will post -4.55 earnings per share for the current fiscal year.

Institutional Trading of Cytokinetics

A number of hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. acquired a new stake in shares of Cytokinetics during the 4th quarter valued at $46,308,000. Vanguard Group Inc. boosted its stake in shares of Cytokinetics by 4.6% during the third quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company’s stock valued at $316,498,000 after purchasing an additional 472,595 shares in the last quarter. HealthInvest Partners AB bought a new stake in shares of Cytokinetics during the fourth quarter worth about $980,000. Legato Capital Management LLC acquired a new position in shares of Cytokinetics in the fourth quarter valued at approximately $1,305,000. Finally, Vestal Point Capital LP bought a new position in Cytokinetics in the 4th quarter valued at approximately $4,174,000.

Analyst Ratings Changes

CYTK has been the subject of several research reports. Truist Financial dropped their price target on Cytokinetics from $86.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. B. Riley dropped their target price on Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, June 4th. Mizuho decreased their price target on shares of Cytokinetics from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. Raymond James lowered their price target on shares of Cytokinetics from $92.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. Finally, JMP Securities dropped their price objective on shares of Cytokinetics from $106.00 to $78.00 and set a “market outperform” rating for the company in a research note on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Cytokinetics currently has an average rating of “Moderate Buy” and an average price target of $76.41.

Check Out Our Latest Stock Report on CYTK

Cytokinetics Company Profile

(Get Free Report)

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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