Insider Selling: Cytokinetics (CYTK) CEO Sells 4,000 Shares of Stock

Cytokinetics (NASDAQ:CYTK) CEO Robert I. Blum sold 4,000 shares of the business’s stock in a transaction dated Thursday, April 5th. The stock was sold at an average price of $7.52, for a total transaction of $30,080.00. Following the sale, the chief executive officer now directly owns 182,701 shares of the company’s stock, valued at $1,373,911.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Cytokinetics stock opened at $7.10 on Monday. Cytokinetics has a fifty-two week low of $6.75 and a fifty-two week high of $17.20. The stock has a market cap of $383.46, a P/E ratio of -2.74 and a beta of 1.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 8.46 and a current ratio of 8.46.

How to Become a New Pot Stock Millionaire

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.04). Cytokinetics had a negative return on equity of 96.95% and a negative net margin of 172.27%. The firm had revenue of ($0.02) million for the quarter, compared to analysts’ expectations of $4.83 million. research analysts anticipate that Cytokinetics will post -1.81 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC purchased a new position in Cytokinetics during the fourth quarter worth about $153,000. Millennium Management LLC purchased a new position in Cytokinetics during the fourth quarter worth about $218,000. Two Sigma Investments LP boosted its holdings in Cytokinetics by 258.1% during the fourth quarter. Two Sigma Investments LP now owns 113,902 shares of the biopharmaceutical company’s stock worth $928,000 after purchasing an additional 82,093 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in Cytokinetics by 62.6% during the fourth quarter. Two Sigma Advisers LP now owns 74,800 shares of the biopharmaceutical company’s stock worth $610,000 after purchasing an additional 28,800 shares during the last quarter. Finally, Ellington Management Group LLC purchased a new position in Cytokinetics during the fourth quarter worth about $128,000. Institutional investors and hedge funds own 71.41% of the company’s stock.

Several equities research analysts have recently commented on CYTK shares. HC Wainwright set a $20.00 target price on shares of Cytokinetics and gave the stock a “buy” rating in a research report on Friday, January 19th. Cowen reissued a “buy” rating and set a $11.00 target price on shares of Cytokinetics in a research report on Tuesday, February 20th. Cantor Fitzgerald set a $10.00 target price on shares of Cytokinetics and gave the stock a “hold” rating in a research report on Monday, February 12th. Morgan Stanley boosted their target price on shares of Cytokinetics from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. Finally, BidaskClub raised shares of Cytokinetics from a “strong sell” rating to a “sell” rating in a research report on Tuesday, March 6th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $15.67.

WARNING: “Insider Selling: Cytokinetics (CYTK) CEO Sells 4,000 Shares of Stock” was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this report on another domain, it was illegally copied and reposted in violation of U.S. & international copyright & trademark legislation. The correct version of this report can be read at https://www.dispatchtribunal.com/2018/04/09/insider-selling-cytokinetics-cytk-ceo-sells-4000-shares-of-stock.html.

Cytokinetics Company Profile

Cytokinetics, Inc operates as a biopharmaceutical company, which focuses on the discovery and development of muscle activators as potential treatment for debilitating diseases. It conducts a Phase 2 clinical trials program for tirasemtiv, including a Phase 2b clinical trial in patients with ALS, known as BENEFIT-ALS (Blinded Evaluation of Neuromuscular Effects and Functional Improvement with Tirasemtiv in ALS).

Insider Buying and Selling by Quarter for Cytokinetics (NASDAQ:CYTK)

Receive News & Ratings for Cytokinetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cytokinetics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply