Robert I. Blum Sells 16,970 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) CEO Robert I. Blum sold 16,970 shares of the business's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $43.44, for a total transaction of $737,176.80. Following the completion of the transaction, the chief executive officer now directly owns 364,181 shares in the company, valued at $15,820,022.64. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Cytokinetics Stock Performance

Shares of NASDAQ:CYTK traded up $1.09 on Tuesday, hitting $44.40. 1,967,343 shares of the company were exchanged, compared to its average volume of 1,575,645. The firm has a market capitalization of $5.26 billion, a P/E ratio of -8.25 and a beta of 0.95. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 1-year low of $40.53 and a 1-year high of $75.71. The stock's 50 day moving average price is $46.59 and its 200 day moving average price is $50.57.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, beating the consensus estimate of ($1.29) by $0.03. The firm had revenue of $16.93 million for the quarter, compared to analysts' expectations of $14.26 million. Sell-side analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

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Analyst Ratings Changes

Several brokerages have recently issued reports on CYTK. Citigroup started coverage on Cytokinetics in a report on Friday, February 7th. They issued a "buy" rating and a $86.00 target price on the stock. Stifel Nicolaus started coverage on Cytokinetics in a research report on Wednesday, January 22nd. They set a "buy" rating and a $80.00 target price for the company. Evercore ISI upgraded shares of Cytokinetics to a "strong-buy" rating in a research report on Friday, February 7th. Royal Bank of Canada boosted their target price on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, December 18th. Finally, Morgan Stanley set a $67.00 price objective on Cytokinetics in a research note on Friday. Two 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.com, Cytokinetics presently has an average rating of "Moderate Buy" and an average price target of $82.00.

Institutional Trading of Cytokinetics

Several institutional investors and hedge funds have recently bought and sold shares of CYTK. Deep Track Capital LP raised its holdings in shares of Cytokinetics by 296.9% during the fourth quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company's stock worth $117,600,000 after purchasing an additional 1,870,094 shares during the last quarter. Capital International Investors acquired a new stake in Cytokinetics during the 4th quarter worth about $51,564,000. T. Rowe Price Investment Management Inc. raised its stake in shares of Cytokinetics by 11.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,752,123 shares of the biopharmaceutical company's stock valued at $505,780,000 after buying an additional 1,062,136 shares during the last quarter. Norges Bank purchased a new stake in shares of Cytokinetics in the fourth quarter worth about $46,556,000. Finally, Vestal Point Capital LP grew its holdings in Cytokinetics by 56.7% during the fourth quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company's stock worth $110,544,000 after acquiring an additional 850,000 shares during the period.

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.