Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Robert I. Blum Sells 12,648 Shares

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) CEO Robert I. Blum sold 12,648 shares of Cytokinetics stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $44.38, for a total transaction of $561,318.24. Following the completion of the transaction, the chief executive officer now directly owns 326,533 shares of the company's stock, valued at $14,491,534.54. This trade represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Cytokinetics Trading Up 5.4 %

NASDAQ CYTK traded up $2.33 on Friday, hitting $45.43. 3,724,448 shares of the stock were exchanged, compared to its average volume of 1,473,531. The company's 50-day moving average price is $45.99 and its two-hundred day moving average price is $50.04. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. Cytokinetics, Incorporated has a 52-week low of $40.53 and a 52-week high of $75.71. The company has a market capitalization of $5.38 billion, a price-to-earnings ratio of -8.44 and a beta of 0.95.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $14.26 million. Research analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

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Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. increased its stake in shares of Cytokinetics by 16.3% in the third quarter. Crossmark Global Holdings Inc. now owns 7,640 shares of the biopharmaceutical company's stock worth $403,000 after acquiring an additional 1,072 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in Cytokinetics by 10.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 8,546 shares of the biopharmaceutical company's stock worth $451,000 after purchasing an additional 824 shares during the last quarter. Royce & Associates LP lifted its holdings in shares of Cytokinetics by 70.2% during the 3rd quarter. Royce & Associates LP now owns 24,250 shares of the biopharmaceutical company's stock valued at $1,280,000 after buying an additional 10,000 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Cytokinetics by 10.2% during the 3rd quarter. Swiss National Bank now owns 215,500 shares of the biopharmaceutical company's stock valued at $11,378,000 after buying an additional 20,000 shares during the last quarter. Finally, Pathstone Holdings LLC grew its stake in shares of Cytokinetics by 17.0% in the 3rd quarter. Pathstone Holdings LLC now owns 34,560 shares of the biopharmaceutical company's stock valued at $1,825,000 after buying an additional 5,027 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. JMP Securities reiterated a "market outperform" rating and issued a $78.00 price objective on shares of Cytokinetics in a research report on Friday, February 7th. Needham & Company LLC reiterated a "buy" rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Thursday, February 6th. Morgan Stanley set a $67.00 target price on Cytokinetics in a research report on Friday, March 7th. Citigroup initiated coverage on Cytokinetics in a research note on Friday, February 7th. They issued a "buy" rating and a $86.00 price target for the company. Finally, HC Wainwright restated a "buy" rating and set a $120.00 price objective on shares of Cytokinetics in a research note on Friday, February 28th. 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.com, Cytokinetics has a consensus rating of "Moderate Buy" and a consensus price target 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.