Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) CEO Robert I. Blum sold 15,000 shares of the company's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $40.75, for a total transaction of $611,250.00. Following the completion of the transaction, the chief executive officer now owns 427,629 shares in the company, valued at approximately $17,425,881.75. This trade represents a 3.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Cytokinetics Price Performance
Shares of Cytokinetics stock opened at $40.19 on Tuesday. Cytokinetics, Incorporated has a twelve month low of $39.81 and a twelve month high of $75.71. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28. The firm's 50-day simple moving average is $45.64 and its 200-day simple moving average is $49.42. The firm has a market cap of $4.76 billion, a P/E ratio of -7.47 and a beta of 0.95.
Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, beating analysts' consensus estimates of ($1.29) by $0.03. The firm had revenue of $16.93 million during the quarter, compared to analyst estimates of $14.26 million. As a group, research analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harvey Capital Management Inc. bought a new stake in shares of Cytokinetics during the fourth quarter worth $1,040,000. abrdn plc boosted its position in shares of Cytokinetics by 29.4% during the fourth quarter. abrdn plc now owns 450,513 shares of the biopharmaceutical company's stock worth $21,192,000 after purchasing an additional 102,457 shares in the last quarter. AlphaQuest LLC grew its stake in 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 acquiring an additional 1,135 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Cytokinetics by 1.0% in the 4th 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. Finally, Retirement Systems of Alabama increased its position in shares of Cytokinetics by 0.4% during 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.
Analyst Ratings Changes
A number of equities analysts have weighed in on CYTK shares. Citigroup began coverage on shares of Cytokinetics in a research note on Friday, February 7th. They set a "buy" rating and a $86.00 price target on the stock. JMP Securities restated a "market outperform" rating and set a $78.00 price objective on shares of Cytokinetics in a report on Friday, February 7th. 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. Evercore ISI raised shares of Cytokinetics to a "strong-buy" rating in a report on Friday, February 7th. Finally, Morgan Stanley set a $67.00 price target on Cytokinetics in a report on Friday, March 7th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $82.00.
Read Our Latest Stock Report on CYTK
Cytokinetics Company Profile
(
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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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