Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) Director Wendall Wierenga sold 20,000 shares of Cytokinetics stock in a transaction on Monday, April 21st. The shares were sold at an average price of $38.46, for a total value of $769,200.00. Following the completion of the transaction, the director now owns 24,848 shares in the company, valued at $955,654.08. This represents a 44.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Cytokinetics Stock Performance
Shares of CYTK stock opened at $37.93 on Tuesday. The stock has a market cap of $4.52 billion, a PE ratio of -7.05 and a beta of 0.94. Cytokinetics, Incorporated has a 52-week low of $32.74 and a 52-week high of $68.76. The business has a 50-day simple moving average of $42.55 and a 200-day simple moving average of $47.53. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93.
Cytokinetics (NASDAQ:CYTK - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, topping the consensus estimate of ($1.29) by $0.03. The company had revenue of $16.93 million during the quarter, compared to analysts' expectations of $14.26 million. On average, equities analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current year.
Wall Street Analysts Forecast Growth
CYTK has been the subject of a number of recent research reports. JMP Securities reiterated a "market outperform" rating and issued a $78.00 target price on shares of Cytokinetics in a report on Thursday, April 10th. Stifel Nicolaus initiated coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They issued a "buy" rating and a $80.00 target price for the company. Morgan Stanley set a $67.00 price target on Cytokinetics in a research report on Friday, March 7th. Needham & Company LLC reissued a "buy" rating and issued a $72.00 price objective on shares of Cytokinetics in a research report on Tuesday, April 8th. Finally, HC Wainwright reiterated a "buy" rating and issued a $120.00 price target on shares of Cytokinetics in a research note on Monday. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $81.63.
Check Out Our Latest Report on CYTK
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Deep Track Capital LP increased its position in shares of Cytokinetics by 296.9% in the fourth quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company's stock valued at $117,600,000 after buying an additional 1,870,094 shares in the last quarter. Capital International Investors purchased a new position in Cytokinetics during the fourth quarter valued at $51,564,000. T. Rowe Price Investment Management Inc. grew its position in shares of Cytokinetics by 11.0% in the fourth 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 purchasing an additional 1,062,136 shares during the period. Norges Bank purchased a new stake in shares of Cytokinetics during the fourth quarter worth about $46,556,000. Finally, Vestal Point Capital LP raised its position in shares of Cytokinetics by 56.7% during the 4th quarter. Vestal Point Capital LP now owns 2,350,000 shares of the biopharmaceutical company's stock worth $110,544,000 after purchasing an additional 850,000 shares during the last quarter.
About Cytokinetics
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to contact@insidertrades.com.
