Sung Lee Sells 1,112 Shares of Cytokinetics (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Sung Lee sold 1,112 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $87.79, for a total value of $97,622.48. Following the completion of the transaction, the executive vice president directly owned 63,221 shares of the company’s stock, valued at approximately $5,550,171.59. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sung Lee also recently made the following trade(s):

• On Monday, June 29th, Sung Lee sold 3,134 shares of Cytokinetics stock. The shares were sold at an average price of $85.00, for a total value of $266,390.00.

Cytokinetics Stock Up 1.4%

NASDAQ CYTK traded up $1.23 during trading hours on Thursday, reaching $86.49. The company’s stock had a trading volume of 2,022,530 shares, compared to its average volume of 2,243,849. Cytokinetics, Incorporated has a 1 year low of $32.89 and a 1 year high of $88.31. The firm’s 50-day moving average price is $74.15 and its 200-day moving average price is $67.45. The company has a market capitalization of $10.76 billion, a price-to-earnings ratio of -12.64 and a beta of 0.42.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($1.67). The company had revenue of $19.36 million for the quarter, compared to the consensus estimate of $8.52 million. The company’s quarterly revenue was up 1112.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.36) EPS. Equities research analysts anticipate that Cytokinetics, Incorporated will post -6.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Cytokinetics

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Cytokinetics by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 12,048,131 shares of the biopharmaceutical company’s stock worth $765,538,000 after purchasing an additional 191,336 shares during the period. State Street Corp raised its holdings in Cytokinetics by 3.7% during the 4th quarter. State Street Corp now owns 5,825,295 shares of the biopharmaceutical company’s stock valued at $370,139,000 after buying an additional 207,961 shares during the period. Deep Track Capital LP lifted its position in Cytokinetics by 17.8% in the third quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company’s stock worth $236,328,000 after buying an additional 650,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in Cytokinetics by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,056,017 shares of the biopharmaceutical company’s stock worth $194,214,000 after buying an additional 15,815 shares during the period. Finally, Vestal Point Capital LP increased its position in Cytokinetics by 14.8% during the second quarter. Vestal Point Capital LP now owns 2,975,000 shares of the biopharmaceutical company’s stock valued at $98,294,000 after acquiring an additional 384,469 shares during the last quarter.

Analyst Ratings Changes

CYTK has been the subject of a number of research analyst reports. Truist Financial set a $106.00 price objective on Cytokinetics in a research report on Tuesday, May 5th. Morgan Stanley raised their price target on Cytokinetics from $90.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cytokinetics in a research note on Monday, April 20th. Leerink Partners reiterated an “outperform” rating on shares of Cytokinetics in a research report on Tuesday, March 10th. Finally, Robert W. Baird set a $84.00 target price on shares of Cytokinetics in a report on Tuesday, March 10th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $100.00.

About Cytokinetics

Cytokinetics, Inc is a late?stage biopharmaceutical company focused on the discovery and development of novel small?molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.