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.
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.
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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).
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