Cytokinetics, Incorporated (NASDAQ:CYTK) Director Robert Arthur Harrington Sells 450 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) Director Robert Arthur Harrington sold 450 shares of the business's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $39.43, for a total transaction of $17,743.50. Following the sale, the director now directly owns 14,658 shares of the company's stock, valued at $577,964.94. This represents a 2.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Cytokinetics Stock Performance

NASDAQ CYTK traded down $1.65 during trading hours on Thursday, reaching $35.68. The company's stock had a trading volume of 412,702 shares, compared to its average volume of 1,564,766. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The business has a 50-day simple moving average of $43.59 and a 200 day simple moving average of $48.38. Cytokinetics, Incorporated has a 52 week low of $32.74 and a 52 week high of $75.50. The stock has a market cap of $4.22 billion, a PE ratio of -6.64 and a beta of 0.94.

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

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Hedge Funds Weigh In On Cytokinetics

A number of large investors have recently bought and sold shares of the business. Harvey Capital Management Inc. acquired a new stake in shares of Cytokinetics in the fourth quarter valued at approximately $1,040,000. abrdn plc increased its stake in shares of Cytokinetics by 29.4% in the fourth quarter. abrdn plc now owns 450,513 shares of the biopharmaceutical company's stock valued at $21,192,000 after purchasing an additional 102,457 shares during the period. AlphaQuest LLC increased its stake in shares of Cytokinetics by 113,500.0% in the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 1,135 shares during the period. Vanguard Group Inc. increased its stake in shares of Cytokinetics by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company's stock valued at $560,520,000 after purchasing an additional 154,216 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Cytokinetics by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,335,189 shares of the biopharmaceutical company's stock valued at $62,807,000 after purchasing an additional 13,798 shares during the period.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CYTK. Stifel Nicolaus began coverage on shares of Cytokinetics in a research report on Wednesday, January 22nd. They set a "buy" rating and a $80.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and set a $120.00 price target on shares of Cytokinetics in a research report on Friday, April 4th. Morgan Stanley set a $67.00 price target on shares of Cytokinetics in a research report on Friday, March 7th. Evercore ISI upgraded shares of Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. Finally, Citigroup began coverage on shares of Cytokinetics in a report on Friday, February 7th. They issued a "buy" rating and a $86.00 price objective on the stock. Two equities 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $82.00.

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.