Key Points
- CEO Robert Blum sold 7,500 shares on April 15 at an average price of $65.38 for proceeds of $490,350, reducing his stake by 1.77% to 415,330 shares (valued at about $27.15M); the sale was disclosed in an SEC filing and executed under a pre-arranged Rule 10b5-1 trading plan.
- Cytokinetics shares trade around $65.37 with a market cap of $8.05B and a one‑year range of $29.31–$70.98; the company reported Q1 EPS of ($1.50) (slightly below estimates) and revenue of $17.76M, and analysts maintain a consensus rating of Moderate Buy with a $90.55 price target.
Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) CEO Robert Blum sold 7,500 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $65.38, for a total value of $490,350.00. Following the transaction, the chief executive officer directly owned 415,330 shares in the company, valued at $27,154,275.40. This trade represents a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cytokinetics Stock Performance
Cytokinetics stock opened at $65.37 on Thursday. The stock's 50 day moving average price is $64.01 and its 200 day moving average price is $63.04. The firm has a market capitalization of $8.05 billion, a PE ratio of -10.01 and a beta of 0.47. Cytokinetics, Incorporated has a one year low of $29.31 and a one year high of $70.98.
Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) EPS for the quarter, missing the consensus estimate of ($1.48) by ($0.02). The company had revenue of $17.76 million during the quarter, compared to analysts' expectations of $8.02 million. The business's quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.26) earnings per share. On average, analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.
Institutional Trading of Cytokinetics
Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Cytokinetics by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 12,048,131 shares of the biopharmaceutical company's stock valued at $765,538,000 after purchasing an additional 191,336 shares during the last quarter. State Street Corp increased its stake in Cytokinetics by 3.7% during the fourth quarter. State Street Corp now owns 5,825,295 shares of the biopharmaceutical company's stock valued at $370,139,000 after purchasing an additional 207,961 shares during the last quarter. Deep Track Capital LP increased its stake in Cytokinetics by 17.8% during the third quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company's stock valued at $236,328,000 after purchasing an additional 650,000 shares during the last quarter. Geode Capital Management LLC increased its stake in Cytokinetics by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,056,017 shares of the biopharmaceutical company's stock valued at $194,214,000 after purchasing an additional 15,815 shares during the last quarter. Finally, Vestal Point Capital LP increased its stake in Cytokinetics by 14.8% during the second quarter. Vestal Point Capital LP now owns 2,975,000 shares of the biopharmaceutical company's stock valued at $98,294,000 after purchasing an additional 384,469 shares during the last quarter.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on CYTK shares. Needham & Company LLC upped their target price on Cytokinetics from $84.00 to $85.00 and gave the company a "buy" rating in a research report on Wednesday, February 25th. Royal Bank Of Canada upped their target price on Cytokinetics from $95.00 to $101.00 and gave the company an "outperform" rating in a research report on Friday, February 20th. Truist Financial upped their target price on Cytokinetics from $84.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, February 3rd. Wells Fargo & Company initiated coverage on Cytokinetics in a research report on Friday, April 10th. They issued an "overweight" rating and a $95.00 target price on the stock. Finally, Bank of America reiterated a "neutral" rating on shares of Cytokinetics in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Cytokinetics currently has an average rating of "Moderate Buy" and a consensus price target of $90.55.
Read Our Latest Stock Report on Cytokinetics
About Cytokinetics
(
Get Free Report)
Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.
The company's most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.
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