Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) CEO Robert Blum sold 7,500 shares of the company's stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $70.24, for a total transaction of $526,800.00. Following the completion of the transaction, the chief executive officer owned 377,820 shares in the company, valued at approximately $26,538,076.80. The trade was a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cytokinetics Price Performance
Shares of CYTK opened at $70.91 on Tuesday. The firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of -9.82 and a beta of 0.39. Cytokinetics, Incorporated has a 1-year low of $35.22 and a 1-year high of $88.31. The company has a 50-day moving average of $79.95 and a 200 day moving average of $72.33.
Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.50) EPS for the quarter, topping analysts' consensus estimates of ($1.63) by $0.13. The company had revenue of $28.62 million during the quarter, compared to the consensus estimate of $17.59 million. Cytokinetics's revenue was down 57.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.12) earnings per share. On average, equities analysts anticipate that Cytokinetics, Incorporated will post -6 earnings per share for the current fiscal year.
Institutional Trading of Cytokinetics
A number of hedge funds have recently bought and sold shares of CYTK. EverSource Wealth Advisors LLC increased its holdings in shares of Cytokinetics by 723.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 766 shares of the biopharmaceutical company's stock valued at $25,000 after acquiring an additional 673 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in shares of Cytokinetics during the 4th quarter worth $27,000. Kestra Advisory Services LLC purchased a new stake in shares of Cytokinetics during the 4th quarter worth $29,000. Quarry LP bought a new stake in Cytokinetics during the third quarter valued at about $30,000. Finally, Advisory Services Network LLC bought a new stake in Cytokinetics during the third quarter valued at about $32,000.
Analysts Set New Price Targets
Several research analysts recently issued reports on CYTK shares. HC Wainwright reissued a "buy" rating and issued a $140.00 price objective on shares of Cytokinetics in a research note on Monday. Wells Fargo & Company upped their target price on Cytokinetics from $95.00 to $105.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Barclays increased their price target on Cytokinetics from $95.00 to $110.00 and gave the stock an "overweight" rating in a research report on Thursday, August 13th. Weiss Ratings restated a "sell (d-)" rating on shares of Cytokinetics in a report on Friday, July 17th. Finally, Stifel Nicolaus upped their price objective on shares of Cytokinetics from $98.00 to $108.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Nineteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $102.20.
Check Out Our Latest Analysis 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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