Key Points
- CEO Robert Blum sold 7,500 Cytokinetics shares on June 15 at an average price of $70.46, totaling about $528,450. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Blum still held 385,330 shares valued at roughly $27.15 million, and his ownership fell by 1.91%.
- Cytokinetics recently reported quarterly EPS of -$1.67, matching estimates, while revenue of $19.36 million sharply beat expectations. Analysts currently rate the stock Moderate Buy with a consensus target price of $99.30.
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 Monday, June 15th. The shares were sold at an average price of $70.46, for a total value of $528,450.00. Following the completion of the sale, the chief executive officer owned 385,330 shares of the company's stock, valued at $27,150,351.80. This trade represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cytokinetics Price Performance
Cytokinetics stock opened at $71.38 on Tuesday. The stock has a market capitalization of $8.88 billion, a PE ratio of -10.44 and a beta of 0.42. Cytokinetics, Incorporated has a 12 month low of $31.99 and a 12 month high of $80.20. The business has a 50 day simple moving average of $70.50 and a 200-day simple moving average of $66.08.
Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) EPS for the quarter, meeting analysts' consensus estimates of ($1.67). The business had revenue of $19.36 million during the quarter, compared to analysts' expectations of $8.52 million. The firm's quarterly revenue was up 1112.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.36) earnings per share. On average, equities research analysts anticipate that Cytokinetics, Incorporated will post -6.29 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on CYTK shares. Wall Street Zen upgraded Cytokinetics from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. JPMorgan Chase & Co. boosted their price objective on Cytokinetics from $92.00 to $97.00 and gave the company an "overweight" rating in a research report on Tuesday, May 12th. HC Wainwright boosted their price objective on Cytokinetics from $136.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, May 11th. UBS Group set a $119.00 price objective on Cytokinetics in a research report on Wednesday, May 6th. Finally, Citizens Jmp boosted their price objective on Cytokinetics from $88.00 to $96.00 and gave the company a "market outperform" rating in a research report on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Cytokinetics currently has a consensus rating of "Moderate Buy" and a consensus target price of $99.30.
Read Our Latest Stock Report on CYTK
Institutional Trading of Cytokinetics
A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Cytokinetics by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 12,048,131 shares of the biopharmaceutical company's stock worth $765,538,000 after acquiring an additional 191,336 shares during the last quarter. State Street Corp boosted its stake in shares of Cytokinetics by 3.7% in the fourth quarter. State Street Corp now owns 5,825,295 shares of the biopharmaceutical company's stock worth $370,139,000 after acquiring an additional 207,961 shares during the last quarter. Deep Track Capital LP boosted its stake in shares of Cytokinetics by 17.8% in the third quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company's stock worth $236,328,000 after acquiring an additional 650,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Cytokinetics by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,056,017 shares of the biopharmaceutical company's stock worth $194,214,000 after acquiring an additional 15,815 shares during the last quarter. Finally, Vestal Point Capital LP boosted its stake in shares of Cytokinetics by 14.8% in the second quarter. Vestal Point Capital LP now owns 2,975,000 shares of the biopharmaceutical company's stock worth $98,294,000 after acquiring an additional 384,469 shares during the last quarter.
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.
Further Reading
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