Insider Selling: Cytokinetics, Incorporated (NASDAQ:CYTK) CEO Sells 5,000 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK - Get Free Report) CEO Robert I. Blum sold 5,000 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $31.22, for a total value of $156,100.00. Following the transaction, the chief executive officer now directly owns 408,108 shares in the company, valued at $12,741,131.76. This trade represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Cytokinetics Stock Down 1.7%

Shares of CYTK stock traded down $0.54 on Thursday, hitting $31.87. 67,494 shares of the stock were exchanged, compared to its average volume of 1,886,899. The business has a 50-day moving average of $35.50 and a 200 day moving average of $43.22. Cytokinetics, Incorporated has a fifty-two week low of $29.31 and a fifty-two week high of $61.38. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The firm has a market capitalization of $3.81 billion, a P/E ratio of -5.93 and a beta of 0.59.

Cytokinetics (NASDAQ:CYTK - Get Free Report) last announced its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, topping analysts' consensus estimates of ($1.41) by $0.05. The firm had revenue of $1.60 million for the quarter, compared to the consensus estimate of $2.77 million. Cytokinetics's revenue for the quarter was up 89.1% on a year-over-year basis. During the same quarter last year, the business posted ($1.33) EPS. Equities analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Hedge Funds Weigh In On Cytokinetics

A number of hedge funds have recently added to or reduced their stakes in the stock. Deep Track Capital LP increased its stake in shares of Cytokinetics by 296.9% in the 4th quarter. Deep Track Capital LP now owns 2,500,000 shares of the biopharmaceutical company's stock valued at $117,600,000 after purchasing an additional 1,870,094 shares during the last quarter. Capital International Investors bought a new stake in Cytokinetics in the 4th quarter valued at about $51,564,000. T. Rowe Price Investment Management Inc. increased its position in Cytokinetics by 11.0% in the 4th 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 buying an additional 1,062,136 shares in the last quarter. Norges Bank bought a new stake in Cytokinetics in the 4th quarter valued at about $46,556,000. Finally, Paradigm Biocapital Advisors LP bought a new stake in Cytokinetics during the first quarter worth $34,510,000.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CYTK shares. Royal Bank of Canada decreased their price target on Cytokinetics from $82.00 to $80.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Barclays dropped their price target on Cytokinetics from $55.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Citigroup decreased their price objective on Cytokinetics from $86.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Morgan Stanley set a $67.00 price target on Cytokinetics in a research note on Friday, March 7th. Finally, JMP Securities restated a "market outperform" rating and set a $78.00 target price on shares of Cytokinetics in a research report on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Cytokinetics currently has an average rating of "Moderate Buy" and an average target price of $72.31.

About Cytokinetics

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.