Robert I. Blum Sells 5,000 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $40.96, for a total value of $204,800.00. Following the sale, the chief executive officer now directly owns 417,629 shares in the company, valued at approximately $17,106,083.84. The trade was a 1.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cytokinetics Stock Performance

CYTK stock opened at $41.29 on Wednesday. The stock has a market cap of $4.92 billion, a P/E ratio of -7.67 and a beta of 0.94. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The firm has a 50 day simple moving average of $41.79 and a 200 day simple moving average of $46.97. Cytokinetics, Incorporated has a 52 week low of $32.74 and a 52 week high of $68.44.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, beating the consensus estimate of ($1.29) by $0.03. The company had revenue of $16.93 million for the quarter, compared to analysts’ expectations of $14.26 million. Research analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CYTK shares. Morgan Stanley set a $67.00 price objective on Cytokinetics in a research note on Friday, March 7th. Evercore ISI raised shares of Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a research note on Tuesday, April 8th. Barclays began coverage on shares of Cytokinetics in a research note on Thursday, April 24th. They set an “overweight” rating and a $55.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research report on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $79.13.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CYTK. Retirement Systems of Alabama lifted its holdings in shares of Cytokinetics by 1.0% during the 3rd quarter. Retirement Systems of Alabama now owns 142,930 shares of the biopharmaceutical company’s stock valued at $7,547,000 after buying an additional 1,414 shares during the last quarter. Exome Asset Management LLC acquired a new position in Cytokinetics during the third quarter worth $3,093,000. Harbor Capital Advisors Inc. increased its holdings in shares of Cytokinetics by 6.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 45,130 shares of the biopharmaceutical company’s stock valued at $2,123,000 after acquiring an additional 2,604 shares during the last quarter. Mirador Capital Partners LP grew its holdings in Cytokinetics by 1.6% during the fourth quarter. Mirador Capital Partners LP now owns 65,636 shares of the biopharmaceutical company’s stock valued at $3,088,000 after purchasing an additional 1,010 shares during the last quarter. Finally, Inspire Investing LLC grew its stake in Cytokinetics by 7.8% in the 4th quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock valued at $400,000 after buying an additional 616 shares during the last quarter.

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.