Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum Sells 12,648 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 12,648 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $44.38, for a total transaction of $561,318.24. Following the sale, the chief executive officer now directly owns 326,533 shares in the company, valued at approximately $14,491,534.54. The trade was a 3.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Cytokinetics Stock Performance

NASDAQ:CYTK opened at $44.91 on Tuesday. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of -8.35 and a beta of 0.95. Cytokinetics, Incorporated has a 1-year low of $40.53 and a 1-year high of $75.71. The firm’s fifty day moving average price is $46.26 and its 200 day moving average price is $50.23. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, topping 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. On average, sell-side analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Institutional Investors Weigh In On Cytokinetics

Several institutional investors have recently made changes to their positions in CYTK. Jones Financial Companies Lllp raised its stake in shares of Cytokinetics by 189.8% during the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 374 shares during the last quarter. MetLife Investment Management LLC raised its stake in Cytokinetics by 0.4% in the 3rd quarter. MetLife Investment Management LLC now owns 123,308 shares of the biopharmaceutical company’s stock valued at $6,511,000 after purchasing an additional 538 shares during the last quarter. Retirement Systems of Alabama raised its stake in Cytokinetics by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company’s stock valued at $6,750,000 after purchasing an additional 565 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Cytokinetics by 1.9% during the 4th quarter. Arizona State Retirement System now owns 32,366 shares of the biopharmaceutical company’s stock valued at $1,522,000 after acquiring an additional 600 shares during the last quarter. Finally, Inspire Investing LLC increased its stake in shares of Cytokinetics by 7.8% during the 4th quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock valued at $400,000 after acquiring an additional 616 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Mizuho raised their target price on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Evercore ISI upgraded shares of Cytokinetics to a “strong-buy” rating in a research report on Friday, February 7th. HC Wainwright restated a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research report on Friday, February 28th. Citigroup assumed coverage on shares of Cytokinetics in a research report on Friday, February 7th. They set a “buy” rating and a $86.00 target price on the stock. Finally, Morgan Stanley set a $67.00 target price on shares of Cytokinetics in a research report on Friday, March 7th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $82.00.

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.