Wendall Wierenga Sells 742 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director Wendall Wierenga sold 742 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $48.61, for a total value of $36,068.62. Following the transaction, the director now directly owns 24,559 shares of the company’s stock, valued at approximately $1,193,812.99. This represents a 2.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Wendall Wierenga also recently made the following trade(s):

• On Monday, October 28th, Wendall Wierenga sold 4,452 shares of Cytokinetics stock. The stock was sold at an average price of $52.25, for a total transaction of $232,617.00.

Cytokinetics Price Performance

Shares of NASDAQ:CYTK opened at $47.78 on Wednesday. Cytokinetics, Incorporated has a one year low of $32.70 and a one year high of $110.25. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of -8.88 and a beta of 0.80. The company has a 50-day simple moving average of $52.38 and a 200-day simple moving average of $54.08. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The business had revenue of $0.46 million during the quarter, compared to the consensus estimate of $1.21 million. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period last year, the firm earned ($1.35) earnings per share. On average, analysts predict that Cytokinetics, Incorporated will post -5.25 EPS for the current year.

Hedge Funds Weigh In On Cytokinetics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its holdings in shares of Cytokinetics by 14.9% in the second quarter. Louisiana State Employees Retirement System now owns 32,400 shares of the biopharmaceutical company’s stock valued at $1,755,000 after acquiring an additional 4,200 shares in the last quarter. Retirement Systems of Alabama increased its position in Cytokinetics by 14.9% during the 2nd quarter. Retirement Systems of Alabama now owns 141,516 shares of the biopharmaceutical company’s stock worth $7,667,000 after purchasing an additional 18,384 shares during the period. State of Michigan Retirement System raised its stake in shares of Cytokinetics by 14.5% during the 2nd quarter. State of Michigan Retirement System now owns 27,600 shares of the biopharmaceutical company’s stock worth $1,495,000 after buying an additional 3,500 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Cytokinetics by 2,470.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 87,812 shares of the biopharmaceutical company’s stock valued at $4,758,000 after buying an additional 84,396 shares during the period. Finally, Legato Capital Management LLC purchased a new stake in shares of Cytokinetics in the second quarter valued at approximately $237,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Monday, December 2nd. Royal Bank of Canada began coverage on Cytokinetics in a research report on Friday, November 8th. They set an “outperform” rating and a $80.00 price objective for the company. JMP Securities reissued a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a research report on Wednesday, September 4th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. Finally, Mizuho raised their price objective on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

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.