Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) EVP Sung Lee sold 3,134 shares of Cytokinetics stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $85.00, for a total value of $266,390.00. Following the completion of the transaction, the executive vice president directly owned 63,221 shares of the company's stock, valued at approximately $5,373,785. This trade represents a 4.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cytokinetics Price Performance
Shares of Cytokinetics stock opened at $87.26 on Tuesday. Cytokinetics, Incorporated has a one year low of $32.66 and a one year high of $87.35. The stock's 50-day moving average is $73.40 and its 200 day moving average is $67.10. The firm has a market cap of $10.86 billion, a price-to-earnings ratio of -12.76 and a beta of 0.42.
Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) EPS for the quarter, hitting the consensus estimate of ($1.67). The business had revenue of $19.36 million for the quarter, compared to analyst estimates of $8.52 million. The company's revenue for the quarter was up 1112.5% on a year-over-year basis. During the same period in the prior year, the business earned ($1.36) EPS. On average, sell-side analysts expect that Cytokinetics, Incorporated will post -6.26 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the stock. Truist Financial set a $106.00 price objective on shares of Cytokinetics in a research note on Tuesday, May 5th. Wall Street Zen raised shares of Cytokinetics from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Royal Bank Of Canada restated an "outperform" rating and issued a $119.00 price target on shares of Cytokinetics in a report on Wednesday, June 17th. Mizuho lifted their price target on shares of Cytokinetics from $100.00 to $118.00 and gave the company an "outperform" rating in a research note on Wednesday, June 24th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Cytokinetics in a report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Cytokinetics presently has an average rating of "Moderate Buy" and an average price target of $100.00.
Check Out Our Latest Stock Report on CYTK
Hedge Funds Weigh In On Cytokinetics
Institutional investors have recently modified their holdings of the company. Millennium Management LLC increased its stake in Cytokinetics by 361.9% during the 1st quarter. Millennium Management LLC now owns 287,901 shares of the biopharmaceutical company's stock valued at $11,571,000 after purchasing an additional 225,576 shares in the last quarter. Cetera Investment Advisers raised its holdings in Cytokinetics by 12.4% during the second quarter. Cetera Investment Advisers now owns 6,635 shares of the biopharmaceutical company's stock worth $219,000 after buying an additional 731 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Cytokinetics by 723.7% in the second quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company's stock valued at $25,000 after buying an additional 673 shares in the last quarter. Gabelli Funds LLC lifted its stake in shares of Cytokinetics by 29.4% in the second quarter. Gabelli Funds LLC now owns 8,410 shares of the biopharmaceutical company's stock valued at $278,000 after buying an additional 1,910 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Cytokinetics by 10.8% during the second quarter. California Public Employees Retirement System now owns 142,602 shares of the biopharmaceutical company's stock valued at $4,712,000 after buying an additional 13,911 shares during the last quarter.
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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