Wendall Wierenga Sells 742 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) Stock

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) Director Wendall Wierenga sold 742 shares of Cytokinetics stock in a transaction on Monday, December 16th. The shares were sold at an average price of $48.61, for a total value of $36,068.62. Following the completion of the transaction, the director now owns 24,559 shares of the company's stock, valued at approximately $1,193,812.99. This trade represents a 2.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wendall Wierenga also recently made the following trade(s):

• On Monday, October 28th, Wendall Wierenga sold 4,452 shares of Cytokinetics stock. The shares were sold at an average price of $52.25, for a total value of $232,617.00.

Cytokinetics Stock Performance

Shares of CYTK stock traded up $0.37 during trading hours on Monday, hitting $49.02. The stock had a trading volume of 758,202 shares, compared to its average volume of 1,988,187. 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 firm has a market capitalization of $5.79 billion, a PE ratio of -9.11 and a beta of 0.80. The stock's 50 day moving average is $52.51 and its 200 day moving average is $54.09. Cytokinetics, Incorporated has a twelve month low of $32.70 and a twelve month high of $110.25.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts' consensus estimates of ($1.27) by ($0.09). The company had revenue of $0.46 million for the quarter, compared to analysts' expectations of $1.21 million. Cytokinetics's revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.35) EPS. As a group, research analysts forecast that Cytokinetics, Incorporated will post -5.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cytokinetics

Several institutional investors have recently added to or reduced their stakes in CYTK. Van ECK Associates Corp lifted its position in Cytokinetics by 21.3% during the 3rd quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company's stock worth $3,802,000 after acquiring an additional 12,565 shares during the period. Westfield Capital Management Co. LP lifted its holdings in shares of Cytokinetics by 38.9% during the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company's stock worth $64,040,000 after purchasing an additional 339,373 shares during the period. Ghisallo Capital Management LLC purchased a new position in Cytokinetics in the 2nd quarter valued at $10,619,000. Darwin Global Management Ltd. acquired a new position in Cytokinetics in the 2nd quarter valued at $246,074,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Cytokinetics in the second quarter valued at about $983,000.

Wall Street Analysts Forecast Growth

CYTK has been the topic of a number of recent research reports. Mizuho upped their target price on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an "outperform" rating in a research note on Thursday, November 21st. Royal Bank of Canada initiated coverage on shares of Cytokinetics in a research report on Friday, November 8th. They issued an "outperform" rating and a $80.00 price objective on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $78.00 price objective on shares of Cytokinetics in a research report on Wednesday, September 4th. HC Wainwright reissued a "buy" rating and issued a $120.00 target price on shares of Cytokinetics in a report on Monday, December 2nd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Cytokinetics in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $83.93.

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.

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