Cytokinetics, Inc. (NASDAQ:CYTK) CEO Robert I. Blum sold 4,000 shares of the firm’s stock in a transaction on Thursday, December 6th. The shares were sold at an average price of $7.50, for a total transaction of $30,000.00. Following the completion of the transaction, the chief executive officer now owns 152,022 shares in the company, valued at $1,140,165. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
NASDAQ:CYTK traded down $0.17 during midday trading on Friday, reaching $7.40. The stock had a trading volume of 287,270 shares, compared to its average volume of 342,075. Cytokinetics, Inc. has a 1-year low of $6.02 and a 1-year high of $10.26. The company has a current ratio of 10.57, a quick ratio of 10.58 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $413.61 million, a PE ratio of -2.86 and a beta of 2.01.
Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.11. The company had revenue of $10.64 million during the quarter, compared to the consensus estimate of $2.23 million. As a group, analysts anticipate that Cytokinetics, Inc. will post -1.96 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of CYTK. Millennium Management LLC boosted its holdings in Cytokinetics by 282.2% in the 1st quarter. Millennium Management LLC now owns 102,172 shares of the biopharmaceutical company’s stock valued at $736,000 after purchasing an additional 75,442 shares during the period. Principal Financial Group Inc. boosted its holdings in Cytokinetics by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 397,603 shares of the biopharmaceutical company’s stock valued at $2,863,000 after purchasing an additional 9,786 shares during the period. Rhumbline Advisers boosted its holdings in Cytokinetics by 9.0% in the 2nd quarter. Rhumbline Advisers now owns 119,830 shares of the biopharmaceutical company’s stock valued at $995,000 after purchasing an additional 9,918 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in Cytokinetics by 11.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 251,805 shares of the biopharmaceutical company’s stock valued at $2,090,000 after purchasing an additional 25,813 shares during the period. Finally, Swiss National Bank boosted its holdings in Cytokinetics by 15.2% in the 2nd quarter. Swiss National Bank now owns 85,400 shares of the biopharmaceutical company’s stock valued at $709,000 after purchasing an additional 11,300 shares during the period. 70.47% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on CYTK shares. BidaskClub upgraded shares of Cytokinetics from a “hold” rating to a “buy” rating in a research note on Saturday, September 8th. Morgan Stanley started coverage on shares of Cytokinetics in a research note on Monday, September 10th. They issued an “equal weight” rating and a $10.00 target price on the stock. Zacks Investment Research lowered shares of Cytokinetics from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. ValuEngine lowered shares of Cytokinetics from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. Finally, HC Wainwright lowered their target price on shares of Cytokinetics from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, October 5th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $12.83.
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Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.
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