Key Points
- CEO Robert Blum sold 7,500 shares at an average price of $59.62 on April 29 for $447,150, a 1.81% reduction in his stake to 407,830 shares, and the sale was executed under a pre-arranged Rule 10b5-1 plan (SEC filing).
- For the most recent quarter Cytokinetics reported EPS of ($1.50), missing estimates by $0.02 while revenue of $17.76M beat expectations and rose 4.9% year-over-year; the stock trades around $59.58 with a 12‑month range of $29.31–$70.98 and a market cap of $7.40B.
- Analysts maintain a consensus "Moderate Buy" with an average target of $90.55 (several firms raised targets, e.g., B. Riley to $108), and large institutional investors like Woodline, Deep Track, Northwestern Mutual and Norges Bank have recently increased or initiated stakes.
Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) CEO Robert Blum sold 7,500 shares of the company's stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $59.62, for a total value of $447,150.00. Following the completion of the transaction, the chief executive officer owned 407,830 shares in the company, valued at approximately $24,314,824.60. The trade was a 1.81% decrease in their position. The transaction was disclosed in a legal 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 Trading Down 1.8%
Cytokinetics stock opened at $59.58 on Thursday. Cytokinetics, Incorporated has a 12 month low of $29.31 and a 12 month high of $70.98. The business's 50 day simple moving average is $63.89 and its 200 day simple moving average is $63.48. The company has a market cap of $7.40 billion, a price-to-earnings ratio of -9.12 and a beta of 0.47.
Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings data 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 analyst estimates of $8.02 million. During the same quarter last year, the firm posted ($1.26) EPS. The company's revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts forecast that Cytokinetics, Incorporated will post -6.22 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Cytokinetics
A number of hedge funds and other institutional investors have recently bought and sold shares of CYTK. Woodline Partners LP raised its holdings in Cytokinetics by 676.1% during the 3rd quarter. Woodline Partners LP now owns 1,647,725 shares of the biopharmaceutical company's stock valued at $90,559,000 after acquiring an additional 1,435,422 shares during the period. Norges Bank bought a new stake in Cytokinetics during the 4th quarter valued at $51,281,000. Deep Track Capital LP raised its holdings in Cytokinetics by 17.8% during the 3rd quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company's stock valued at $236,328,000 after acquiring an additional 650,000 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Cytokinetics by 151,987.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 565,765 shares of the biopharmaceutical company's stock valued at $35,949,000 after acquiring an additional 565,393 shares during the period. Finally, Foresite Capital Management IV LLC bought a new stake in Cytokinetics during the 3rd quarter valued at $25,188,000.
Analysts Set New Price Targets
Several research firms recently commented on CYTK. JPMorgan Chase & Co. upped their price objective on Cytokinetics from $74.00 to $75.00 and gave the company an "overweight" rating in a research note on Tuesday, March 17th. Bank of America reiterated a "neutral" rating on shares of Cytokinetics in a research note on Wednesday, February 25th. B. Riley Financial upped their price objective on Cytokinetics from $90.00 to $108.00 and gave the company a "buy" rating in a research note on Wednesday, January 21st. Robert W. Baird set a $84.00 price objective on Cytokinetics in a research note on Tuesday, March 10th. Finally, Citizens Jmp upped their price objective on Cytokinetics from $88.00 to $96.00 and gave the company a "market outperform" rating in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $90.55.
View Our Latest Research Report on Cytokinetics
Cytokinetics Company Profile
(
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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