Key Points
- CEO Robert Blum sold 7,500 Cytokinetics shares for $471,075 under a pre-arranged Rule 10b5-1 trading plan, reducing his direct ownership by 2.62% to 278,544 shares.
- Cytokinetics reported quarterly revenue of $28.62 million and an EPS loss of $1.50, beating analyst estimates, though revenue declined 57.1% year over year. Analysts expect a full-year loss of $5.97 per share.
- Wall Street remains broadly positive, with 19 Buy ratings, one Hold and one Sell; the stock has a “Moderate Buy” consensus rating and an average price target of $105.44 versus its recent price near $62.
Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) CEO Robert Blum sold 7,500 shares of the firm's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $62.81, for a total transaction of $471,075.00. Following the transaction, the chief executive officer directly owned 278,544 shares of the company's stock, valued at $17,495,348.64. The trade was a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cytokinetics Stock Performance
Shares of NASDAQ CYTK opened at $62.03 on Tuesday. The company has a market cap of $7.72 billion, a P/E ratio of -8.59 and a beta of 0.41. Cytokinetics, Incorporated has a 52-week low of $58.05 and a 52-week high of $88.31. The firm's fifty day moving average is $67.21 and its two-hundred day moving average is $70.06.
Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.50) EPS for the quarter, beating the consensus estimate of ($1.63) by $0.13. The company had revenue of $28.62 million for the quarter, compared to the consensus estimate of $17.59 million. During the same period last year, the company earned ($1.12) EPS. The firm's revenue for the quarter was down 57.1% on a year-over-year basis. As a group, analysts forecast that Cytokinetics, Incorporated will post -5.97 EPS for the current fiscal year.
Analyst Ratings Changes
CYTK has been the subject of a number of research reports. Barclays increased their price target on Cytokinetics from $95.00 to $110.00 and gave the company an "overweight" rating in a research note on Thursday, August 13th. HC Wainwright reaffirmed a "buy" rating and issued a $140.00 price objective on shares of Cytokinetics in a research note on Monday, October 19th. Citigroup reaffirmed a "market outperform" rating on shares of Cytokinetics in a report on Friday, August 7th. Needham & Company LLC upped their price objective on Cytokinetics from $102.00 to $112.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Cytokinetics in a research report on Friday, September 11th. Nineteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $105.44.
Check Out Our Latest Report on CYTK
Hedge Funds Weigh In On Cytokinetics
A number of institutional investors and hedge funds have recently made changes to their positions in the business. CenterBook Partners LP raised its position in shares of Cytokinetics by 173.7% during the 3rd quarter. CenterBook Partners LP now owns 21,233 shares of the biopharmaceutical company's stock valued at $1,399,000 after buying an additional 13,474 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Cytokinetics by 3.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 4,925 shares of the biopharmaceutical company's stock valued at $325,000 after acquiring an additional 179 shares during the last quarter. Provenance Wealth Advisors LLC bought a new position in shares of Cytokinetics in the 3rd quarter valued at about $139,000. Oregon Public Employees Retirement Fund lifted its holdings in shares of Cytokinetics by 2.9% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 28,815 shares of the biopharmaceutical company's stock valued at $1,899,000 after acquiring an additional 800 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Cytokinetics in the third quarter worth about $468,000.
Cytokinetics Company Profile
(
Get Free Report)
Cytokinetics, Incorporated is a biopharmaceutical company focused on discovering and developing medicines that target muscle function and contractility. The company applies muscle biology and sarcomere science to develop potential treatments for cardiovascular and neuromuscular diseases, including conditions in which impaired muscle performance contributes to disease progression.
Its leading investigational program is aficamten, a selective cardiac myosin inhibitor being developed for hypertrophic cardiomyopathy and other potential cardiovascular indications.
Further Reading
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