Key Points
- CEO Robert Blum sold 7,500 shares of Cytokinetics at an average price of $77.92, totaling about $584,400. The transaction was made under a pre-arranged Rule 10b5-1 trading plan.
- Cytokinetics shares were up 1.8% and traded near $78.64, close to the stock’s 52-week high of $80.20. The company has a market cap of about $9.79 billion.
- The company recently reported Q1 earnings of -$1.67 per share, matching estimates, while revenue of $19.36 million handily beat forecasts. Analysts currently rate the stock a Moderate Buy with a consensus target price of $98.55.
Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) CEO Robert Blum sold 7,500 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $77.92, for a total transaction of $584,400.00. Following the sale, the chief executive officer owned 400,330 shares of the company's stock, valued at $31,193,713.60. This trade represents a 1.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cytokinetics Stock Up 1.8%
NASDAQ CYTK opened at $78.64 on Friday. The firm has a market cap of $9.79 billion, a P/E ratio of -11.50 and a beta of 0.38. Cytokinetics, Incorporated has a 52-week low of $29.31 and a 52-week high of $80.20. The business's 50-day moving average price is $65.66 and its 200 day moving average price is $64.53.
Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, hitting analysts' consensus estimates of ($1.67). The company had revenue of $19.36 million for the quarter, compared to analyst estimates of $8.52 million. During the same period in the previous year, the business posted ($1.36) earnings per share. The firm's revenue was up 1112.5% compared to the same quarter last year. As a group, analysts anticipate that Cytokinetics, Incorporated will post -6.31 earnings per share for the current year.
Institutional Investors Weigh In On Cytokinetics
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its stake in shares of Cytokinetics by 723.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 673 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in shares of Cytokinetics in the fourth quarter valued at about $27,000. Kestra Advisory Services LLC purchased a new stake in Cytokinetics during the fourth quarter worth about $29,000. Quarry LP purchased a new stake in Cytokinetics during the third quarter worth about $30,000. Finally, TD Waterhouse Canada Inc. acquired a new position in Cytokinetics during the fourth quarter worth about $32,000.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on CYTK shares. UBS Group set a $119.00 price objective on shares of Cytokinetics in a research report on Wednesday, May 6th. Truist Financial set a $106.00 price objective on shares of Cytokinetics in a research report on Tuesday, May 5th. Citizens Jmp raised their target price on shares of Cytokinetics from $88.00 to $96.00 and gave the stock a "market outperform" rating in a research note on Wednesday, February 25th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cytokinetics in a report on Monday, April 20th. Finally, B. Riley Financial increased their price target on shares of Cytokinetics from $90.00 to $108.00 and gave the stock a "buy" rating in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Cytokinetics currently has an average rating of "Moderate Buy" and a consensus target price of $98.55.
View Our Latest Research 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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