Robert I. Blum Sells 15,000 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) CEO Robert I. Blum sold 15,000 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $40.75, for a total value of $611,250.00. Following the completion of the sale, the chief executive officer now directly owns 427,629 shares in the company, valued at $17,425,881.75. This trade represents a 3.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Cytokinetics Stock Performance

Shares of NASDAQ:CYTK traded down $2.06 during trading on Friday, reaching $38.46. 365,736 shares of the company's stock traded hands, compared to its average volume of 1,529,353. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The company has a 50 day moving average of $45.20 and a 200-day moving average of $49.17. The stock has a market capitalization of $4.55 billion, a P/E ratio of -7.13 and a beta of 0.94. Cytokinetics, Incorporated has a 12 month low of $37.46 and a 12 month high of $75.71.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.29) by $0.03. The business had revenue of $16.93 million for the quarter, compared to analyst estimates of $14.26 million. On average, equities analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

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Wall Street Analyst Weigh In

CYTK has been the topic of a number of analyst reports. Evercore ISI upgraded Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. JMP Securities reiterated a "market outperform" rating and set a $78.00 price objective on shares of Cytokinetics in a research report on Friday, February 7th. Needham & Company LLC restated a "buy" rating and set a $72.00 target price on shares of Cytokinetics in a research report on Thursday, February 6th. Royal Bank of Canada boosted their price target on Cytokinetics from $80.00 to $82.00 and gave the company an "outperform" rating in a report on Wednesday, December 18th. Finally, Morgan Stanley set a $67.00 price target on shares of Cytokinetics in a research report on Friday, March 7th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Cytokinetics currently has a consensus rating of "Moderate Buy" and a consensus price target of $82.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp increased its holdings in shares of Cytokinetics by 189.8% in the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 374 shares in the last quarter. Retirement Systems of Alabama increased its position in shares of Cytokinetics by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company's stock worth $6,750,000 after acquiring an additional 565 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Cytokinetics by 1.9% in the 4th quarter. Arizona State Retirement System now owns 32,366 shares of the biopharmaceutical company's stock valued at $1,522,000 after acquiring an additional 600 shares in the last quarter. Inspire Investing LLC boosted its stake in Cytokinetics by 7.8% in the 4th quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company's stock worth $400,000 after purchasing an additional 616 shares during the period. Finally, Centricity Wealth Management LLC acquired a new stake in Cytokinetics during the 4th quarter valued at $29,000.

Cytokinetics Company Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.