Key Points
- Cytokinetics CEO Robert Blum sold 7,500 shares at an average price of $82.02, for proceeds of about $615,150, reducing his direct ownership by 1.95%. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- The stock was trading near $81.93, close to its 52-week high of $88.31, with a market cap of about $10.19 billion. It also remains well above its 50-day and 200-day moving averages.
- Analysts remain broadly positive on Cytokinetics, with a consensus rating of Moderate Buy and an average price target of $99.90. The company recently beat revenue expectations, posting $19.36 million in quarterly revenue, though it still reported a loss per share.
Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) CEO Robert Blum sold 7,500 shares of the stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $82.02, for a total transaction of $615,150.00. Following the sale, the chief executive officer directly owned 377,820 shares in the company, valued at $30,988,796.40. This trade represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cytokinetics Price Performance
CYTK stock opened at $81.93 on Wednesday. The company has a 50 day moving average price of $77.71 and a 200 day moving average price of $68.85. Cytokinetics, Incorporated has a fifty-two week low of $32.89 and a fifty-two week high of $88.31. The stock has a market capitalization of $10.19 billion, a PE ratio of -11.98 and a beta of 0.42.
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 (EPS) for the quarter, hitting the consensus estimate of ($1.67). The firm had revenue of $19.36 million for the quarter, compared to analyst estimates of $8.52 million. The firm's quarterly revenue was up 1112.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.36) EPS. As a group, equities analysts expect that Cytokinetics, Incorporated will post -6.22 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. Citigroup started coverage on Cytokinetics in a report on Monday, May 18th. They issued a "buy" rating and a $99.00 price target on the stock. Mizuho upped their target price on shares of Cytokinetics from $100.00 to $118.00 and gave the company an "outperform" rating in a research report on Wednesday, June 24th. Needham & Company LLC reaffirmed a "buy" rating and issued a $102.00 target price on shares of Cytokinetics in a research note on Wednesday, June 17th. Barclays lifted their price target on shares of Cytokinetics from $87.00 to $95.00 and gave the stock an "overweight" rating in a research report on Monday, April 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Cytokinetics from $92.00 to $97.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $99.90.
View Our Latest Research Report on CYTK
Institutional Investors Weigh In On Cytokinetics
Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can lifted its stake in shares of Cytokinetics by 1.2% in the fourth quarter. Bank of Montreal Can now owns 13,292 shares of the biopharmaceutical company's stock valued at $845,000 after buying an additional 160 shares in the last quarter. Kennedy Capital Management LLC raised its holdings in shares of Cytokinetics by 1.2% in the 4th quarter. Kennedy Capital Management LLC now owns 13,183 shares of the biopharmaceutical company's stock worth $838,000 after acquiring an additional 162 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Cytokinetics by 46.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company's stock worth $35,000 after acquiring an additional 171 shares during the last quarter. Vident Advisory LLC lifted its position in Cytokinetics by 1.4% in the 4th quarter. Vident Advisory LLC now owns 16,455 shares of the biopharmaceutical company's stock valued at $1,046,000 after acquiring an additional 234 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in Cytokinetics by 6.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,723 shares of the biopharmaceutical company's stock valued at $237,000 after acquiring an additional 239 shares in 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.
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