Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Sells $183,850.00 in Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $36.77, for a total transaction of $183,850.00. Following the sale, the chief executive officer now directly owns 422,629 shares of the company’s stock, valued at $15,540,068.33. The trade was a 1.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Cytokinetics Price Performance

NASDAQ CYTK traded up $0.53 on Thursday, reaching $37.85. 2,693,567 shares of the stock traded hands, compared to its average volume of 1,576,734. Cytokinetics, Incorporated has a 12 month low of $32.74 and a 12 month high of $75.50. The company has a market cap of $4.48 billion, a price-to-earnings ratio of -7.04 and a beta of 0.94. The firm’s fifty day simple moving average is $43.59 and its 200 day simple moving average is $48.38. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93.

Cytokinetics (NASDAQ:CYTK) last released its 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 business had revenue of $16.93 million for the quarter, compared to analyst estimates of $14.26 million. As a group, research analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Cytokinetics

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Cytokinetics by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock valued at $560,520,000 after purchasing an additional 154,216 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Cytokinetics by 11.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company’s stock worth $505,780,000 after buying an additional 1,062,136 shares during the period. Geode Capital Management LLC lifted its stake in Cytokinetics by 4.0% during the third quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock valued at $150,433,000 after buying an additional 109,938 shares in the last quarter. Deep Track Capital LP boosted its holdings in shares of Cytokinetics by 296.9% in the fourth quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company’s stock worth $117,600,000 after buying an additional 1,870,094 shares during the period. Finally, Vestal Point Capital LP increased its position in shares of Cytokinetics by 56.7% in the fourth quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company’s stock worth $110,544,000 after acquiring an additional 850,000 shares in the last quarter.

Analyst Ratings Changes

A number of research firms have commented on CYTK. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research note on Tuesday. Stifel Nicolaus initiated coverage on Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price target for the company. Evercore ISI upgraded Cytokinetics to a “strong-buy” rating in a report on Friday, February 7th. Citigroup initiated coverage on Cytokinetics in a research report on Friday, February 7th. They set a “buy” rating and a $86.00 price target on the stock. Finally, Royal Bank of Canada lifted their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $82.00.

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.