Cytokinetics, Incorporated (NASDAQ:CYTK) Director Sells $89,747.60 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) Director John T. Henderson sold 1,780 shares of Cytokinetics stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $50.42, for a total transaction of $89,747.60. Following the completion of the transaction, the director now owns 38,461 shares of the company’s stock, valued at $1,939,203.62. This trade represents a 4.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Cytokinetics Trading Down 0.9 %

Shares of Cytokinetics stock opened at $50.24 on Friday. The company has a fifty day simple moving average of $52.80 and a 200-day simple moving average of $54.00. Cytokinetics, Incorporated has a 12-month low of $32.70 and a 12-month high of $110.25. 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 released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The company had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $1.21 million. During the same period last year, the business posted ($1.35) EPS. Cytokinetics’s revenue was up 22.5% compared to the same quarter last year. As a group, equities analysts expect that Cytokinetics, Incorporated will post -5.25 earnings per share for the current year.

Wall Street Analyst Weigh In

CYTK has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a report on Monday, December 2nd. JMP Securities reiterated a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a report on Wednesday, September 4th. Finally, Mizuho boosted their price target 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 given a buy rating to the stock. Based on data from MarketBeat, Cytokinetics presently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Institutional Trading of Cytokinetics

Several institutional investors and hedge funds have recently bought and sold shares of CYTK. J.Safra Asset Management Corp raised its position in Cytokinetics by 642.3% in the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 456 shares during the last quarter. UMB Bank n.a. raised its position in Cytokinetics by 65.6% during the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 238 shares during the last quarter. Blue Trust Inc. raised its position in Cytokinetics by 225.9% during the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 680 shares during the last quarter. Values First Advisors Inc. purchased a new position in Cytokinetics during the 3rd quarter worth $54,000. Finally, Quarry LP raised its position in Cytokinetics by 233.3% during the 2nd quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock worth $108,000 after buying an additional 1,400 shares during the last quarter.

About Cytokinetics

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.